DexCom (NASDAQ:DXCM) Price Target Raised to $87.00 at Truist Financial

Key Points

• Truist Financial raised DexCom’s price target from $80 to $87 and kept a buy rating, implying about 11.8% upside from the prior close.
• The stock has broad Wall Street support, with a consensus rating of Moderate Buy and an average price target of $85.36, even though some analysts remain cautious, including Barclays with an underweight rating.
• DexCom recently reported better-than-expected quarterly results, with EPS of $0.56 versus estimates of $0.47 and revenue of $1.19 billion, up 15% year over year.

DexCom (NASDAQ:DXCM - Get Free Report) had its price target increased by research analysts at Truist Financial from $80.00 to $87.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a "buy" rating on the medical device company's stock. Truist Financial's target price would suggest a potential upside of 11.77% from the company's previous close.

DXCM has been the subject of several other research reports. Barclays restated an "underweight" rating and issued a $64.00 price objective (down from $67.00) on shares of DexCom in a research report on Monday, May 18th. Stifel Nicolaus set a $90.00 price target on shares of DexCom and gave the company a "buy" rating in a research note on Friday, June 5th. Benchmark reaffirmed a "buy" rating on shares of DexCom in a research note on Tuesday, June 23rd. Robert W. Baird set a $80.00 target price on DexCom in a report on Friday, May 1st. Finally, Sanford C. Bernstein set a $77.00 price target on DexCom in a research report on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $85.36.

DexCom Price Performance

NASDAQ:DXCM traded up $5.11 during trading hours on Thursday, reaching $77.84. The company had a trading volume of 2,578,264 shares, compared to its average volume of 5,253,163. The company has a quick ratio of 1.64, a current ratio of 1.95 and a debt-to-equity ratio of 0.42. The stock has a 50-day moving average of $70.49 and a two-hundred day moving average of $68.60. DexCom has a one year low of $54.11 and a one year high of $89.98. The firm has a market capitalization of $30.04 billion, a PE ratio of 33.26, a PEG ratio of 1.22 and a beta of 1.45.

DexCom (NASDAQ:DXCM - Get Free Report) last announced its earnings results on Thursday, April 30th. The medical device company reported $0.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.47 by $0.09. The business had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.17 billion. DexCom had a net margin of 19.31% and a return on equity of 33.33%. The firm's revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter last year, the company posted $0.32 EPS. Analysts forecast that DexCom will post 2.57 earnings per share for the current year.

Insider Buying and Selling

In other DexCom news, Director Bridgette P. Heller sold 1,012 shares of the firm's stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $60.01, for a total transaction of $60,730.12. Following the transaction, the director owned 25,007 shares in the company, valued at $1,500,670.07. This trade represents a 3.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark G. Foletta sold 4,000 shares of the business's stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $74.13, for a total value of $296,520.00. Following the completion of the transaction, the director directly owned 52,852 shares of the company's stock, valued at approximately $3,917,918.76. This trade represents a 7.04% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 71,750 shares of company stock valued at $5,163,241 in the last quarter. Corporate insiders own 0.28% of the company's stock.

Institutional Trading of DexCom

Several institutional investors and hedge funds have recently modified their holdings of the business. Tema ETFs LLC raised its holdings in DexCom by 14.2% in the 2nd quarter. Tema ETFs LLC now owns 21,664 shares of the medical device company's stock valued at $1,459,000 after buying an additional 2,688 shares during the last quarter. E. Ohman J or Asset Management AB raised its position in shares of DexCom by 18.9% in the 2nd quarter. E. Ohman J or Asset Management AB now owns 113,204 shares of the medical device company's stock worth $7,624,000 after acquiring an additional 18,012 shares in the last quarter. Paladin Wealth LLC increased its stake in shares of DexCom by 17.4% in the 2nd quarter. Paladin Wealth LLC now owns 9,338 shares of the medical device company's stock valued at $629,000 after acquiring an additional 1,386 shares in the last quarter. Arista Wealth Management LLC acquired a new stake in DexCom in the second quarter valued at approximately $337,000. Finally, Sax Wealth Advisors LLC lifted its holdings in shares of DexCom by 46.1% in the second quarter. Sax Wealth Advisors LLC now owns 17,001 shares of the medical device company's stock valued at $1,068,000 after purchasing an additional 5,364 shares in the last quarter. 97.75% of the stock is currently owned by institutional investors.

DexCom Company Profile

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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