UBS Group Issues Positive Forecast for DexCom (NASDAQ:DXCM) Stock Price

DexCom (NASDAQ:DXCM) had its target price increased by stock analysts at UBS Group from $102.00 to $107.00 in a report released on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the medical device company’s stock. UBS Group‘s price objective would indicate a potential upside of 30.03% from the company’s current price.

DXCM has been the topic of several other reports. Robert W. Baird set a $105.00 target price on shares of DexCom in a research report on Friday, July 31st. Weiss Ratings upgraded shares of DexCom from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, October 6th. Argus upped their price target on DexCom from $86.00 to $96.00 and gave the stock a “buy” rating in a report on Tuesday, August 4th. Truist Financial set a $102.00 price target on DexCom and gave the stock a “buy” rating in a report on Friday, September 18th. Finally, Mizuho set a $100.00 price objective on DexCom in a research note on Tuesday, October 13th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, DexCom presently has a consensus rating of “Buy” and an average target price of $93.70.

DexCom Price Performance

DexCom stock opened at $82.29 on Friday. The company has a market cap of $30.69 billion, a P/E ratio of 32.27, a price-to-earnings-growth ratio of 1.37 and a beta of 1.45. DexCom has a one year low of $54.11 and a one year high of $92.59. The business has a fifty day moving average of $85.82 and a two-hundred day moving average of $74.65. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.40 and a current ratio of 1.74.

DexCom (NASDAQ:DXCM) last posted its quarterly earnings results on Thursday, October 29th. The medical device company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.05. The business had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.33 billion. DexCom had a net margin of 19.42% and a return on equity of 37.77%. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.61 EPS. As a group, analysts predict that DexCom will post 2.67 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Sadie Stern sold 2,565 shares of the company’s stock in a transaction that occurred on Tuesday, October 27th. The shares were sold at an average price of $78.62, for a total transaction of $201,660.30. Following the transaction, the executive vice president owned 120,913 shares of the company’s stock, valued at approximately $9,506,180.06. This represents a 2.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Nicholas Augustinos sold 6,539 shares of the firm’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $84.04, for a total transaction of $549,537.56. Following the sale, the director owned 29,293 shares in the company, valued at approximately $2,461,783.72. This trade represents a 18.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 22,822 shares of company stock worth $1,920,193. 0.28% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Latitude Advisors LLC acquired a new position in DexCom in the third quarter valued at $32,000. Hilton Head Capital Partners LLC lifted its holdings in shares of DexCom by 242.3% during the 3rd quarter. Hilton Head Capital Partners LLC now owns 380 shares of the medical device company’s stock worth $33,000 after acquiring an additional 269 shares during the period. Ascentis Independent Advisors acquired a new stake in shares of DexCom in the first quarter worth approximately $25,000. Elevation Wealth Partners LLC grew its holdings in DexCom by 61.0% in the third quarter. Elevation Wealth Partners LLC now owns 401 shares of the medical device company’s stock valued at $35,000 after purchasing an additional 152 shares during the period. Finally, GK Wealth Management LLC acquired a new position in DexCom during the third quarter worth approximately $35,000. Hedge funds and other institutional investors own 97.75% of the company’s stock.

About DexCom

DexCom, Inc develops and commercializes continuous glucose monitoring (CGM) systems for people with diabetes. Its devices use a small wearable sensor to measure glucose levels in real time and transmit readings to compatible smartphones, receivers, smartwatches, and other connected devices, helping users monitor glucose trends and make informed decisions about their health.

The company’s product portfolio includes the Dexcom G7 and Dexcom G6 CGM systems, as well as Dexcom ONE and Dexcom ONE+ products offered in select markets.