DexCom (NASDAQ:DXCM) Coverage Initiated at Deutsche Bank Aktiengesellschaft

Key Points

• Deutsche Bank initiated coverage on DexCom with a buy rating and a $86 price target, implying about 24.5% upside from the current share price.
• Wall Street sentiment remains broadly positive overall, with MarketBeat showing a Moderate Buy consensus and an average target price of $84.88, though there are still some mixed calls, including an underweight rating from Barclays.
• DexCom recently reported strong quarterly results, beating earnings and revenue estimates with $0.56 EPS and $1.19 billion in revenue, while insiders have also been selling shares in recent weeks.

Analysts at Deutsche Bank Aktiengesellschaft began coverage on shares of DexCom (NASDAQ:DXCM - Get Free Report) in a note issued to investors on Tuesday. The firm set a "buy" rating and a $86.00 price target on the medical device company's stock. Deutsche Bank Aktiengesellschaft's target price points to a potential upside of 24.51% from the company's current price.

Several other equities analysts have also issued reports on DXCM. Barclays restated an "underweight" rating and set a $64.00 target price (down from $67.00) on shares of DexCom in a research report on Monday, May 18th. Citigroup reiterated a "buy" rating and issued a $84.00 price target (up from $79.00) on shares of DexCom in a research report on Thursday, May 28th. Evercore raised shares of DexCom from an "in-line" rating to an "outperform" rating and set a $90.00 price objective on the stock in a research note on Tuesday, March 24th. Benchmark started coverage on shares of DexCom in a report on Monday, May 11th. They set a "buy" rating and a $77.00 price objective for the company. Finally, Wall Street Zen downgraded shares of DexCom from a "strong-buy" rating to a "buy" rating in a research note on Sunday, May 10th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $84.88.

DexCom Price Performance

DXCM opened at $69.07 on Tuesday. The company has a fifty day moving average price of $67.13 and a two-hundred day moving average price of $67.98. The firm has a market capitalization of $26.65 billion, a PE ratio of 29.52, a P/E/G ratio of 1.13 and a beta of 1.45. DexCom has a 52 week low of $54.11 and a 52 week high of $89.98. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.64 and a current ratio of 1.95.

DexCom (NASDAQ:DXCM - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The medical device company reported $0.56 earnings per share for the quarter, beating analysts' consensus estimates of $0.47 by $0.09. DexCom had a return on equity of 33.33% and a net margin of 19.31%.The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the prior year, the business posted $0.32 EPS. The firm's quarterly revenue was up 15.0% on a year-over-year basis. As a group, analysts anticipate that DexCom will post 2.58 earnings per share for the current year.

Insider Buying and Selling at DexCom

In other DexCom news, insider Kevin R. Sayer sold 26,759 shares of the company's stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $72.00, for a total transaction of $1,926,648.00. Following the completion of the transaction, the insider owned 382,482 shares of the company's stock, valued at $27,538,704. This represents a 6.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jon Coleman sold 4,912 shares of the firm's stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $73.00, for a total transaction of $358,576.00. Following the transaction, the executive vice president directly owned 100,361 shares of the company's stock, valued at $7,326,353. This represents a 4.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 46,694 shares of company stock valued at $3,343,977 in the last 90 days. 0.28% of the stock is currently owned by corporate insiders.

Institutional Trading of DexCom

A number of institutional investors have recently made changes to their positions in DXCM. Brighton Jones LLC lifted its position in DexCom by 257.7% during the 4th quarter. Brighton Jones LLC now owns 16,582 shares of the medical device company's stock worth $1,290,000 after buying an additional 11,946 shares in the last quarter. Integrated Wealth Concepts LLC grew its holdings in shares of DexCom by 6.3% in the 1st quarter. Integrated Wealth Concepts LLC now owns 3,329 shares of the medical device company's stock valued at $227,000 after acquiring an additional 196 shares in the last quarter. Empowered Funds LLC increased its position in shares of DexCom by 5.4% in the first quarter. Empowered Funds LLC now owns 8,446 shares of the medical device company's stock valued at $577,000 after acquiring an additional 436 shares during the last quarter. Focus Partners Wealth increased its position in shares of DexCom by 13.2% in the first quarter. Focus Partners Wealth now owns 7,218 shares of the medical device company's stock valued at $493,000 after acquiring an additional 841 shares during the last quarter. Finally, NewEdge Advisors LLC increased its position in shares of DexCom by 1.4% in the second quarter. NewEdge Advisors LLC now owns 19,253 shares of the medical device company's stock valued at $1,681,000 after acquiring an additional 258 shares during the last quarter. Institutional investors own 97.75% of the company's stock.

About DexCom

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.

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