DexCom (NASDAQ:DXCM) Earns Buy Rating from Canaccord Genuity Group

Key Points

• Canaccord Genuity Group has reaffirmed a "buy" rating for DexCom (NASDAQ:DXCM) with a price target of $106.00, indicating a potential upside of 60.19% from its current price.
• DexCom's stock performed poorly, trading down 1.4% to $66.17 during Monday's trading session, significantly below its 50-day moving average of $78.27.
• The company reported a quarterly earnings per share of $0.48, beating estimates, with a year-over-year revenue increase of 15.2% to $1.16 billion.

DexCom (NASDAQ:DXCM - Get Free Report)'s stock had its "buy" rating reaffirmed by equities research analysts at Canaccord Genuity Group in a research note issued to investors on Monday,Benzinga reports. They presently have a $106.00 price objective on the medical device company's stock. Canaccord Genuity Group's target price points to a potential upside of 60.19% from the stock's current price.

DXCM has been the subject of several other reports. Piper Sandler lifted their target price on shares of DexCom from $90.00 to $100.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. UBS Group lifted their target price on shares of DexCom from $105.00 to $106.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Raymond James Financial boosted their price objective on shares of DexCom from $99.00 to $102.00 and gave the stock a "strong-buy" rating in a report on Thursday, July 31st. Mizuho boosted their price objective on shares of DexCom from $95.00 to $100.00 and gave the stock an "outperform" rating in a report on Wednesday, July 16th. Finally, Morgan Stanley boosted their price objective on shares of DexCom from $82.00 to $89.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, DexCom currently has a consensus rating of "Moderate Buy" and an average price target of $99.11.

DexCom Stock Down 1.4%

DexCom stock traded down $0.93 during trading hours on Monday, hitting $66.17. 826,282 shares of the stock traded hands, compared to its average volume of 4,159,558. The firm's 50-day moving average price is $78.27 and its two-hundred day moving average price is $78.13. The company has a current ratio of 1.52, a quick ratio of 1.35 and a debt-to-equity ratio of 0.48. The company has a market cap of $25.95 billion, a PE ratio of 45.87, a PEG ratio of 1.41 and a beta of 1.48. DexCom has a one year low of $57.52 and a one year high of $93.25.

DexCom (NASDAQ:DXCM - Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $1.16 billion for the quarter, compared to analysts' expectations of $1.13 billion. DexCom had a return on equity of 30.41% and a net margin of 13.29%.The business's revenue was up 15.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.43 EPS. DexCom has set its FY 2025 guidance at EPS. On average, research analysts forecast that DexCom will post 2.03 EPS for the current year.

Insider Activity at DexCom

In other news, Director Mark G. Foletta sold 2,750 shares of the business's stock in a transaction on Friday, August 15th. The shares were 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 $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 is available at this link. Also, EVP Sadie Stern sold 1,466 shares of the company's stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $80.00, for a total transaction of $117,280.00. Following the completion of the transaction, the executive vice president directly owned 105,223 shares of the company's stock, valued at $8,417,840. This represents a 1.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,849 shares of company stock valued at $564,733 in the last quarter. 0.32% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of DexCom by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 48,322,405 shares of the medical device company's stock valued at $4,218,063,000 after buying an additional 866,506 shares in the last quarter. Jennison Associates LLC raised its position in DexCom by 9.4% in the 2nd quarter. Jennison Associates LLC now owns 11,517,546 shares of the medical device company's stock worth $1,005,367,000 after purchasing an additional 994,300 shares during the period. Geode Capital Management LLC raised its position in DexCom by 3.4% in the 2nd quarter. Geode Capital Management LLC now owns 10,766,356 shares of the medical device company's stock worth $936,100,000 after purchasing an additional 358,617 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in DexCom by 22.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 10,123,525 shares of the medical device company's stock worth $691,336,000 after purchasing an additional 1,868,241 shares during the period. Finally, Nuveen LLC purchased a new stake in DexCom in the 1st quarter worth about $554,893,000. Institutional investors own 97.75% of the company's stock.

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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