Argus Initiates Coverage on DexCom (NASDAQ:DXCM)

Key Points

• Argus Research has initiated coverage on DexCom, setting a "buy" rating and a price target of $100.00, which implies a potential upside of 22.44% from its current price.
• DexCom reported quarterly earnings of $0.48 per share, exceeding expectations, and revealed a revenue of $1.16 billion, indicating a 15.2% year-over-year growth.
• The majority consensus rating on DexCom is "Moderate Buy," with 19 analysts giving it a "Buy" or "Strong Buy" rating, while the stock has a current market cap of $32.03 billion.

Research analysts at Argus initiated coverage on shares of DexCom (NASDAQ:DXCM - Get Free Report) in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports. The firm set a "buy" rating and a $100.00 price target on the medical device company's stock. Argus' price target indicates a potential upside of 21.57% from the stock's previous close.

Several other analysts also recently weighed in on DXCM. Oppenheimer upped their price target on DexCom from $95.00 to $102.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. The Goldman Sachs Group started coverage on DexCom in a report on Friday, May 30th. They issued a "buy" rating and a $104.00 target price on the stock. William Blair upgraded DexCom to a "strong-buy" rating in a report on Thursday, July 31st. Truist Financial began coverage on shares of DexCom in a research note on Monday, June 16th. They issued a "buy" rating and a $102.00 price target on the stock. Finally, Wall Street Zen downgraded shares of DexCom from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 10th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $99.89.

DexCom Stock Up 2.0%

Shares of DexCom stock traded up $1.64 during trading on Thursday, hitting $82.26. The company's stock had a trading volume of 3,666,928 shares, compared to its average volume of 4,009,486. DexCom has a 52 week low of $57.52 and a 52 week high of $93.25. The company has a market capitalization of $32.26 billion, a PE ratio of 57.13, a P/E/G ratio of 1.72 and a beta of 1.43. The company has a fifty day simple moving average of $82.81 and a two-hundred day simple moving average of $79.83. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.35 and a current ratio of 1.52.

DexCom (NASDAQ:DXCM - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The medical device company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.45 by $0.03. DexCom had a net margin of 13.29% and a return on equity of 30.41%. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the previous year, the firm posted $0.43 earnings per share. DexCom's quarterly revenue was up 15.2% on a year-over-year basis. DexCom has set its FY 2025 guidance at EPS. Equities research analysts predict that DexCom will post 2.03 earnings per share for the current year.

Insider Activity at DexCom

In related news, EVP Michael Jon Brown sold 500 shares of the stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $80.29, for a total transaction of $40,145.00. Following the transaction, the executive vice president owned 94,102 shares in the company, valued at $7,555,449.58. This represents a 0.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Nicholas Augustinos sold 3,672 shares of DexCom stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $82.80, for a total transaction of $304,041.60. Following the completion of the sale, the director directly owned 33,411 shares of the company's stock, valued at approximately $2,766,430.80. This trade represents a 9.90% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,906 shares of company stock worth $1,832,451 over the last quarter. 0.32% of the stock is currently owned by insiders.

Hedge Funds Weigh In On DexCom

Several hedge funds and other institutional investors have recently modified their holdings of DXCM. Golden State Wealth Management LLC raised its position in DexCom by 211.2% in the first quarter. Golden State Wealth Management LLC now owns 389 shares of the medical device company's stock worth $27,000 after acquiring an additional 264 shares during the period. Private Trust Co. NA increased its stake in shares of DexCom by 99.4% in the 1st quarter. Private Trust Co. NA now owns 672 shares of the medical device company's stock worth $46,000 after purchasing an additional 335 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in DexCom by 29.3% in the 1st quarter. Farther Finance Advisors LLC now owns 3,100 shares of the medical device company's stock worth $209,000 after purchasing an additional 702 shares during the period. Dynamic Advisor Solutions LLC raised its holdings in DexCom by 34.2% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 5,235 shares of the medical device company's stock worth $357,000 after purchasing an additional 1,333 shares during the period. Finally, Stonebridge Financial Group LLC lifted its position in DexCom by 944.5% during the first quarter. Stonebridge Financial Group LLC now owns 3,217 shares of the medical device company's stock valued at $220,000 after purchasing an additional 2,909 shares in the last quarter. 97.75% of the stock is owned by institutional investors.

DexCom Company Profile

DexCom, Inc, a medical device company, focuses on the design, development, and commercialization of continuous glucose monitoring (CGM) systems in the United States and internationally. The company provides its systems for use by people with diabetes, as well as for use by healthcare providers. Its products include Dexcom G6 and Dexcom G7, integrated CGM systems for diabetes management; Dexcom Share, a remote monitoring system; Dexcom Real-Time API, which enables authorized third-party software developers to integrate real-time CGM data into their digital health apps and devices; and Dexcom ONE, that is designed to replace finger stick blood glucose testing for diabetes treatment decisions.