DexCom (NASDAQ:DXCM) Rating Increased to Strong-Buy at Wall Street Zen

Key Points

• DexCom's stock rating has been upgraded from "buy" to a "strong-buy"" by Wall Street Zen, indicating increased analyst confidence in the company.
• The company reported a 15.2% year-over-year revenue growth with quarterly earnings of $0.48 per share, surpassing analysts' estimates.
• Institutional investors hold a significant majority, with 97.75% of DexCom's shares owned by hedge funds and other large investors.

DexCom (NASDAQ:DXCM - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research report issued on Saturday.

DXCM has been the subject of several other reports. Truist Financial began coverage on DexCom in a research report on Monday, June 16th. They set a "buy" rating and a $102.00 price objective for the company. Barclays upped their price objective on DexCom from $93.00 to $98.00 and gave the stock an "equal weight" rating in a research report on Wednesday. The Goldman Sachs Group initiated coverage on DexCom in a research report on Friday, May 30th. They issued a "buy" rating and a $104.00 target price for the company. Raymond James Financial lifted their price target on DexCom from $99.00 to $102.00 and gave the company a "strong-buy" rating in a research note on Thursday. Finally, Canaccord Genuity Group reissued a "buy" rating and set a $106.00 price target on shares of DexCom in a research note on Friday. Four research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $99.89.

DexCom Stock Performance

DXCM opened at $79.28 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.32 and a current ratio of 1.52. DexCom has a 52-week low of $57.52 and a 52-week high of $93.25. The firm has a market cap of $31.09 billion, a P/E ratio of 55.06, a price-to-earnings-growth ratio of 1.71 and a beta of 1.44. The business's fifty day moving average is $84.57 and its 200-day moving average is $80.62.

DexCom (NASDAQ:DXCM - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The medical device company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.03. DexCom had a return on equity of 30.41% and a net margin of 13.29%. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the prior year, the company earned $0.43 EPS. DexCom's revenue for the quarter was up 15.2% on a year-over-year basis. Sell-side analysts expect that DexCom will post 2.03 EPS for the current fiscal year.

Insiders Place Their Bets

In other DexCom news, Director Nicholas Augustinos sold 3,672 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $82.80, for a total value of $304,041.60. Following the completion of the sale, the director owned 33,411 shares of the company's stock, valued at approximately $2,766,430.80. This trade represents a 9.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Mark G. Foletta sold 2,750 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $83.13, for a total value of $228,607.50. Following the completion of the sale, the director directly owned 56,621 shares of the company's stock, valued at $4,706,903.73. This trade represents a 4.63% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,656 shares of company stock valued at $2,412,191. Company insiders own 0.32% of the company's stock.

Institutional Investors Weigh In On DexCom

Hedge funds have recently added to or reduced their stakes in the company. Golden State Wealth Management LLC grew its stake in DexCom by 211.2% in the first quarter. Golden State Wealth Management LLC now owns 389 shares of the medical device company's stock valued at $27,000 after acquiring an additional 264 shares during the period. Zions Bancorporation National Association UT purchased a new position in shares of DexCom during the first quarter valued at approximately $27,000. Optiver Holding B.V. purchased a new position in shares of DexCom during the fourth quarter valued at approximately $33,000. Heck Capital Advisors LLC purchased a new position in shares of DexCom during the fourth quarter valued at approximately $38,000. Finally, Anderson Financial Strategies LLC purchased a new position in shares of DexCom during the first quarter valued at approximately $37,000. Institutional investors and hedge funds own 97.75% of the company's stock.

DexCom Company Profile

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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