DexCom (NASDAQ:DXCM) Downgraded by Oppenheimer to "Market Perform"

Key Points

• DexCom was downgraded from an "outperform" rating to a "market perform" rating by Oppenheimer, indicating a potential shift in investment sentiment.
• Despite the downgrade, DexCom has shown strong earnings performance, reporting $0.48 EPS, which surpassed analyst expectations of $0.45.
• The company has a robust institutional presence, with nearly 98% of its stock owned by hedge funds and institutional investors.

DexCom (NASDAQ:DXCM - Get Free Report) was downgraded by stock analysts at Oppenheimer from an "outperform" rating to a "market perform" rating in a research note issued on Monday,Finviz reports.

DXCM has been the topic of several other reports. The Goldman Sachs Group started coverage on DexCom in a research report on Friday, May 30th. They issued a "buy" rating and a $104.00 target price on the stock. Raymond James Financial boosted their price target on DexCom from $99.00 to $102.00 and gave the stock a "strong-buy" rating in a report on Thursday, July 31st. Citigroup restated a "buy" rating and set a $102.00 price objective (up previously from $82.00) on shares of DexCom in a research report on Thursday, May 22nd. Morgan Stanley upped their price target on shares of DexCom from $82.00 to $89.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. Finally, Wall Street Zen downgraded DexCom from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 10th. Three analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, DexCom has an average rating of "Moderate Buy" and an average price target of $99.89.

DexCom Price Performance

Shares of NASDAQ DXCM opened at $80.51 on Monday. DexCom has a fifty-two week low of $57.52 and a fifty-two week high of $93.25. The company has a market capitalization of $31.57 billion, a price-to-earnings ratio of 55.91, a P/E/G ratio of 1.69 and a beta of 1.48. The company has a 50 day simple moving average of $81.58 and a two-hundred day simple moving average of $79.00. 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 earnings results on Wednesday, July 30th. The medical device company reported $0.48 EPS for the quarter, topping analysts' consensus estimates of $0.45 by $0.03. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. DexCom had a return on equity of 30.41% and a net margin of 13.29%.The company's quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.43 EPS. DexCom has set its FY 2025 guidance at EPS. Analysts expect that DexCom will post 2.03 EPS for the current fiscal year.

Insiders Place Their Bets

In other DexCom news, Director Mark G. Foletta sold 2,750 shares of DexCom stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $81.06, for a total transaction of $222,915.00. Following the completion of the sale, the director owned 51,121 shares of the company's stock, valued at approximately $4,143,868.26. The trade was a 5.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Michael Jon Brown sold 500 shares of the business's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $80.29, for a total value of $40,145.00. Following the sale, the executive vice president owned 94,102 shares in the company, valued at approximately $7,555,449.58. The trade was a 0.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,722 shares of company stock worth $1,306,131 over the last quarter. Company insiders own 0.32% of the company's stock.

Hedge Funds Weigh In On DexCom

A number of institutional investors have recently bought and sold shares of DXCM. Andra AP fonden purchased a new stake in DexCom in the second quarter valued at $26,000. Twin Peaks Wealth Advisors LLC acquired a new position in shares of DexCom in the 2nd quarter valued at about $26,000. Golden State Wealth Management LLC boosted its stake in shares of 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 buying an additional 264 shares during the last quarter. Zions Bancorporation National Association UT acquired a new stake in DexCom during the first quarter worth about $27,000. Finally, Anderson Financial Strategies LLC purchased a new position in DexCom during the first quarter valued at approximately $37,000. 97.75% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.