DexCom (NASDAQ:DXCM) Stock Rating Upgraded by Barclays

Key Points

• Barclays upgraded DexCom to “strong buy,” adding to an overall analyst consensus of “Buy.” The stock has a consensus price target of $91.96, with three Strong Buy, 19 Buy, and two Hold ratings.
• DexCom reported quarterly EPS of $0.70, beating estimates of $0.61, while revenue rose 13.1% year over year to $1.31 billion. Shares opened at $84.30, compared with a 52-week range of $54.11 to $92.59.
• Company insiders sold 49,313 shares worth approximately $3.95 million over the past three months, while institutional investors hold a substantial 97.75% of outstanding shares.

DexCom (NASDAQ:DXCM - Get Free Report) was upgraded by research analysts at Barclays to a "strong-buy" rating in a research report issued on Wednesday, Zacks reports.

A number of other brokerages also recently issued reports on DXCM. Benchmark boosted their price objective on DexCom from $77.00 to $82.00 and gave the company a "buy" rating in a research note on Friday, July 31st. Truist Financial set a $102.00 price target on shares of DexCom and gave the company a "buy" rating in a report on Friday, September 18th. Piper Sandler reiterated an "overweight" rating and issued a $95.00 price target (up from $88.00) on shares of DexCom in a research report on Friday, July 31st. Wells Fargo & Company increased their price objective on shares of DexCom from $85.00 to $90.00 and gave the stock an "overweight" rating in a research note on Friday, July 31st. Finally, TD Cowen reissued a "buy" rating and issued a $95.00 price objective on shares of DexCom in a research note on Friday, September 18th. Three analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $91.96.

DexCom Price Performance

NASDAQ DXCM opened at $84.30 on Wednesday. The company has a market capitalization of $31.81 billion, a PE ratio of 33.32, a price-to-earnings-growth ratio of 1.40 and a beta of 1.48. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.43 and a current ratio of 1.73. The business's fifty day moving average is $87.33 and its 200 day moving average is $74.97. DexCom has a fifty-two week low of $54.11 and a fifty-two week high of $92.59.

DexCom (NASDAQ:DXCM - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The medical device company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.09. DexCom had a return on equity of 35.94% and a net margin of 20.12%.The business had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the previous year, the company posted $0.48 earnings per share. DexCom's revenue for the quarter was up 13.1% on a year-over-year basis. Sell-side analysts predict that DexCom will post 2.64 earnings per share for the current year.

Insider Buying and Selling at DexCom

In other news, EVP Jereme Sylvain sold 3,638 shares of the stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $83.27, for a total transaction of $302,936.26. Following the completion of the transaction, the executive vice president directly owned 146,828 shares in the company, valued at approximately $12,226,367.56. This represents a 2.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Sadie Stern sold 2,565 shares of the firm's stock in a transaction on Monday, September 28th. The shares were sold at an average price of $86.15, for a total transaction of $220,974.75. Following the completion of the transaction, the executive vice president directly owned 123,478 shares of the company's stock, valued at approximately $10,637,629.70. This trade represents a 2.04% decrease in their ownership of the stock. 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. Insiders have sold a total of 49,313 shares of company stock worth $3,945,875 over the last three months. 0.28% of the stock is owned by company insiders.

Hedge Funds Weigh In On DexCom

Several institutional investors have recently bought and sold shares of DXCM. Reflection Asset Management bought a new stake in shares of DexCom in the 4th quarter worth about $25,000. Ascentis Independent Advisors bought a new position in shares of DexCom in the 1st quarter valued at about $25,000. Elevation Wealth Partners LLC grew its position in DexCom by 61.0% in the third quarter. Elevation Wealth Partners LLC now owns 401 shares of the medical device company's stock worth $35,000 after acquiring an additional 152 shares in the last quarter. Wellington Grp LLC grew its position in DexCom by 778.7% in the first quarter. Wellington Grp LLC now owns 536 shares of the medical device company's stock worth $34,000 after acquiring an additional 475 shares in the last quarter. Finally, Cassaday & Co Wealth Management LLC bought a new stake in DexCom during the first quarter worth approximately $44,000. Institutional investors own 97.75% of the company's stock.

About DexCom

DexCom, Inc NASDAQ: DXCM develops and commercializes continuous glucose monitoring (CGM) systems for people with diabetes. Its technology uses a small wearable sensor to measure glucose levels continuously and transmit readings to a compatible receiver, smartphone or other connected device, helping users monitor glucose trends and make more informed treatment and lifestyle decisions.

The company's product portfolio includes the Dexcom G7 and Dexcom G6 real-time CGM systems, as well as related software and digital health tools such as Dexcom Clarity for glucose data analysis and reporting.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.