Analysts Set DexCom, Inc. (NASDAQ:DXCM) Price Target at $98.72

Key Points

• Analysts have given DexCom, Inc. (NASDAQ:DXCM) a consensus rating of "Moderate Buy", with fourteen out of twenty research firms issuing buy recommendations.
• The average target price for DexCom shares is $98.72, based on recent updates from brokers covering the stock.
• In its latest quarterly earnings report, DexCom reported $1.04 billion in revenue, exceeding analyst estimates, but missed EPS expectations slightly with $0.32 earnings per share.

DexCom, Inc. (NASDAQ:DXCM - Get Free Report) has received an average rating of "Moderate Buy" from the twenty analysts that are covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $99.00.

A number of equities analysts have recently commented on DXCM shares. Morgan Stanley boosted their price objective on DexCom from $82.00 to $89.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Mizuho upped their price target on DexCom from $95.00 to $100.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. Truist Financial started coverage on DexCom in a report on Monday, June 16th. They issued a "buy" rating and a $102.00 price target for the company. Wall Street Zen raised DexCom from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Finally, Citigroup reaffirmed a "buy" rating and issued a $102.00 price target (up from $82.00) on shares of DexCom in a report on Thursday, May 22nd.

Insider Activity at DexCom

In other DexCom news, Director Mark G. Foletta sold 2,750 shares of the firm's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $83.13, for a total value of $228,607.50. Following the completion of the transaction, the director directly owned 56,621 shares of the company's stock, valued at $4,706,903.73. This trade represents a 4.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael Jon Brown sold 500 shares of the firm's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $82.80, for a total transaction of $41,400.00. Following the sale, the executive vice president owned 95,102 shares in the company, valued at approximately $7,874,445.60. This trade represents a 0.52% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,656 shares of company stock worth $2,412,191. 0.32% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On DexCom

A number of large investors have recently added to or reduced their stakes in DXCM. Golden State Wealth Management LLC increased its position in shares of DexCom by 211.2% during the first quarter. Golden State Wealth Management LLC now owns 389 shares of the medical device company's stock valued at $27,000 after buying an additional 264 shares during the period. Private Trust Co. NA increased its position in shares of DexCom by 99.4% during the first quarter. Private Trust Co. NA now owns 672 shares of the medical device company's stock valued at $46,000 after buying an additional 335 shares during the period. Farther Finance Advisors LLC increased its position in shares of DexCom by 29.3% during the first quarter. Farther Finance Advisors LLC now owns 3,100 shares of the medical device company's stock valued at $209,000 after buying an additional 702 shares during the period. Dynamic Advisor Solutions LLC increased its position in shares of DexCom by 34.2% during the first quarter. Dynamic Advisor Solutions LLC now owns 5,235 shares of the medical device company's stock valued at $357,000 after buying an additional 1,333 shares during the period. Finally, Stonebridge Financial Group LLC increased its position in shares of 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 buying an additional 2,909 shares during the period. Hedge funds and other institutional investors own 97.75% of the company's stock.

DexCom Trading Down 0.3%

DXCM traded down $0.29 on Friday, hitting $89.06. The company had a trading volume of 4,506,327 shares, compared to its average volume of 2,498,674. The firm has a market cap of $34.92 billion, a P/E ratio of 66.46, a PEG ratio of 1.91 and a beta of 1.44. DexCom has a 1 year low of $57.52 and a 1 year high of $93.25. The company's fifty day moving average price is $84.75 and its 200 day moving average price is $80.62. The company has a current ratio of 1.50, a quick ratio of 1.32 and a debt-to-equity ratio of 0.55.

DexCom (NASDAQ:DXCM - Get Free Report) last released its earnings results on Wednesday, July 30th. The medical device company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.03. DexCom had a return on equity of 30.05% and a net margin of 12.90%. The business's quarterly revenue was up 15.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.43 earnings per share. As a group, equities analysts expect that DexCom will post 2.03 earnings per share for the current year.

About DexCom

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.