DexCom, Inc. (NASDAQ:DXCM) Given Consensus Rating of "Moderate Buy" by Brokerages

Key Points

• Analyst sentiment remains positive: Twenty-seven firms give DexCom a consensus “Moderate Buy” rating, with 21 buys and two strong buys. The average 12-month price target is approximately $88.71.
• Recent results exceeded expectations: DexCom reported quarterly earnings of $0.70 per share versus the $0.61 consensus estimate, while revenue reached $1.31 billion and increased 13.1% year over year.
• Shares and ownership activity: The stock opened at $82.66 after recently trading down 4.9%; insiders sold 102,506 shares worth about $7.5 million during the last quarter, while institutional investors own 97.75% of outstanding shares.

Shares of DexCom, Inc. (NASDAQ:DXCM - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the twenty-seven research firms that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, twenty-one have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $88.7083.

Several research analysts have recently issued reports on the company. Canaccord Genuity Group set a $90.00 price objective on DexCom and gave the stock a "buy" rating in a research report on Monday. William Blair upgraded DexCom to a "strong-buy" rating in a research note on Friday, May 15th. Truist Financial set a $93.00 price target on DexCom and gave the company a "buy" rating in a report on Friday, July 31st. Piper Sandler reiterated an "overweight" rating and issued a $95.00 price target (up from $88.00) on shares of DexCom in a research note on Friday, July 31st. Finally, Stifel Nicolaus set a $95.00 price objective on shares of DexCom and gave the stock a "buy" rating in a report on Friday, July 31st.

DexCom Trading Down 4.9%

NASDAQ DXCM opened at $82.66 on Thursday. DexCom has a 52 week low of $54.11 and a 52 week high of $87.85. The firm has a 50 day moving average of $73.99 and a two-hundred day moving average of $69.53. The company has a quick ratio of 1.43, a current ratio of 1.73 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $31.19 billion, a PE ratio of 32.67, a price-to-earnings-growth ratio of 1.45 and a beta of 1.41.

DexCom (NASDAQ:DXCM - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The medical device company reported $0.70 earnings per share for the quarter, beating analysts' consensus estimates of $0.61 by $0.09. The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.29 billion. DexCom had a net margin of 20.12% and a return on equity of 35.94%. The company's revenue was up 13.1% on a year-over-year basis. During the same period last year, the business earned $0.48 EPS. As a group, research analysts expect that DexCom will post 2.65 EPS for the current fiscal year.

Insider Activity at DexCom

In other DexCom news, insider Kevin R. Sayer sold 26,759 shares of the company's stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $72.00, for a total value of $1,926,648.00. Following the completion of the transaction, the insider owned 382,482 shares in the company, valued at $27,538,704. This represents a 6.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark G. Foletta sold 4,000 shares of the firm's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $74.13, for a total value of $296,520.00. Following the transaction, the director directly owned 52,852 shares in the company, valued at approximately $3,917,918.76. The trade was a 7.04% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 102,506 shares of company stock worth $7,535,898. Corporate insiders own 0.28% of the company's stock.

Institutional Trading of DexCom

Several institutional investors and hedge funds have recently made changes to their positions in DXCM. Reflection Asset Management purchased a new position in DexCom during the 4th quarter worth approximately $25,000. Ascentis Independent Advisors purchased a new stake in DexCom in the first quarter valued at approximately $25,000. MCF Advisors LLC purchased a new stake in DexCom in the fourth quarter valued at approximately $32,000. Wellington Grp LLC boosted its holdings in shares of DexCom by 778.7% in the first quarter. Wellington Grp LLC now owns 536 shares of the medical device company's stock valued at $34,000 after acquiring an additional 475 shares during the period. Finally, DV Equities LLC acquired a new stake in shares of DexCom in the fourth quarter valued at approximately $36,000. 97.75% of the stock is owned by hedge funds and other institutional investors.

DexCom Company Profile

DexCom, Inc is a medical device company that develops, manufactures and distributes continuous glucose monitoring (CGM) systems for people with diabetes. Its products are designed to provide near real-time glucose readings, trend information and alerts to help patients and clinicians manage insulin dosing and reduce hypoglycemia and hyperglycemia. The company's offerings combine wearable glucose sensors, wireless transmitters and software applications that deliver data to smartphones, dedicated receivers and cloud-based platforms for remote monitoring.

Founded in 1999 and headquartered in San Diego, California, DexCom has focused its business on advancing CGM technology and expanding clinical use beyond traditional insulin-dependent populations.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source