DexCom (NASDAQ:DXCM) Cut to Hold at Wall Street Zen

DexCom (NASDAQ:DXCM - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Sunday.

DXCM has been the subject of a number of other reports. Cfra Research raised DexCom to a "hold" rating in a research note on Friday, March 21st. The Goldman Sachs Group began coverage on DexCom in a research note on Friday, May 30th. They set a "buy" rating and a $104.00 price objective for the company. Truist Financial began coverage on DexCom in a research note on Monday, June 16th. They set a "buy" rating and a $102.00 price objective for the company. Barclays lifted their price objective on DexCom from $90.00 to $93.00 and gave the stock an "equal weight" rating in a research note on Monday, May 5th. Finally, Canaccord Genuity Group lifted their price objective on DexCom from $103.00 to $106.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Five research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $98.50.

DexCom Stock Up 1.5%

NASDAQ DXCM opened at $86.33 on Friday. The stock has a fifty day moving average of $81.70 and a 200-day moving average of $79.59. The stock has a market capitalization of $33.85 billion, a P/E ratio of 64.43, a price-to-earnings-growth ratio of 1.84 and a beta of 1.46. DexCom has a 52 week low of $57.52 and a 52 week high of $117.19. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.32 and a current ratio of 1.50.

DexCom (NASDAQ:DXCM - Get Free Report) last released its earnings results on Thursday, May 1st. The medical device company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.01). DexCom had a net margin of 12.90% and a return on equity of 30.05%. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same period last year, the business posted $0.32 earnings per share. The firm's quarterly revenue was up 12.5% on a year-over-year basis. On average, equities research analysts forecast that DexCom will post 2.03 EPS for the current year.

Insider Activity

In related news, Director Mark G. Foletta sold 2,750 shares of the company's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $83.13, for a total transaction of $228,607.50. Following the sale, the director now owns 56,621 shares in the company, valued at approximately $4,706,903.73. This represents a 4.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Michael Jon Brown sold 500 shares of the stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $82.80, for a total value of $41,400.00. Following the transaction, the executive vice president now directly owns 95,102 shares of the company's stock, valued at $7,874,445.60. This trade represents a 0.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 25,724 shares of company stock worth $2,157,034 over the last three months. Corporate insiders own 0.32% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of DXCM. Nuveen LLC acquired a new position in DexCom during the first quarter valued at approximately $554,893,000. Norges Bank acquired a new position in DexCom during the fourth quarter valued at approximately $385,367,000. Jennison Associates LLC boosted its position in DexCom by 37.7% during the first quarter. Jennison Associates LLC now owns 10,523,246 shares of the medical device company's stock valued at $718,632,000 after purchasing an additional 2,879,489 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in DexCom by 171.0% during the first quarter. Massachusetts Financial Services Co. MA now owns 3,194,829 shares of the medical device company's stock valued at $218,175,000 after purchasing an additional 2,015,971 shares during the last quarter. Finally, Federated Hermes Inc. boosted its position in DexCom by 2,371.4% during the first quarter. Federated Hermes Inc. now owns 1,994,732 shares of the medical device company's stock valued at $136,220,000 after purchasing an additional 1,914,019 shares during the last quarter. 97.75% of the stock is owned by institutional investors and hedge funds.

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.

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