DexCom (NASDAQ:DXCM) Shares Gap Up Following Analyst Upgrade

DexCom, Inc. (NASDAQ:DXCM - Get Free Report)'s share price gapped up before the market opened on Friday after Barclays raised their price target on the stock from $90.00 to $93.00. The stock had previously closed at $70.26, but opened at $75.26. Barclays currently has an equal weight rating on the stock. DexCom shares last traded at $80.13, with a volume of 2,557,890 shares trading hands.

DXCM has been the subject of several other research reports. Baird R W upgraded shares of DexCom from a "hold" rating to a "strong-buy" rating in a report on Thursday, January 16th. Wells Fargo & Company restated an "overweight" rating on shares of DexCom in a report on Saturday, March 8th. Canaccord Genuity Group lifted their price target on DexCom from $103.00 to $106.00 and gave the company a "buy" rating in a report on Friday. Morgan Stanley boosted their price target on DexCom from $75.00 to $82.00 and gave the stock an "equal weight" rating in a research report on Friday, February 14th. Finally, Robert W. Baird dropped their price objective on DexCom from $115.00 to $105.00 and set an "outperform" rating on the stock in a research report on Friday. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $98.11.

Insiders Place Their Bets

In related news, EVP Jereme M. Sylvain sold 7,000 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $73.83, for a total transaction of $516,810.00. Following the sale, the executive vice president now directly owns 135,482 shares of the company's stock, valued at $10,002,636.06. This trade represents a 4.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jacob Steven Leach sold 14,076 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $70.38, for a total value of $990,668.88. Following the completion of the transaction, the chief operating officer now directly owns 313,497 shares of the company's stock, valued at $22,063,918.86. The trade was a 4.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,926 shares of company stock valued at $4,734,384. 0.32% of the stock is owned by company insiders.

Hedge Funds Weigh In On DexCom

Institutional investors have recently made changes to their positions in the company. Watts Gwilliam & Co. LLC purchased a new position in DexCom in the fourth quarter valued at $3,334,000. Congress Asset Management Co. grew its position in shares of DexCom by 5,456.9% during the 4th quarter. Congress Asset Management Co. now owns 1,356,941 shares of the medical device company's stock valued at $105,529,000 after acquiring an additional 1,332,522 shares during the period. Janney Montgomery Scott LLC increased its stake in shares of DexCom by 2,226.6% in the 4th quarter. Janney Montgomery Scott LLC now owns 232,543 shares of the medical device company's stock valued at $18,085,000 after purchasing an additional 222,548 shares in the last quarter. First Hawaiian Bank raised its holdings in DexCom by 556.1% in the 4th quarter. First Hawaiian Bank now owns 23,159 shares of the medical device company's stock worth $1,801,000 after purchasing an additional 19,629 shares during the period. Finally, Proficio Capital Partners LLC purchased a new position in DexCom during the fourth quarter worth approximately $5,812,000. 97.75% of the stock is owned by hedge funds and other institutional investors.

DexCom Stock Performance

The company has a market capitalization of $32.00 billion, a price-to-earnings ratio of 57.07, a price-to-earnings-growth ratio of 2.30 and a beta of 1.43. The firm has a fifty day simple moving average of $71.27 and a 200 day simple moving average of $76.93. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.47 and a quick ratio of 1.28.

DexCom (NASDAQ:DXCM - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The medical device company reported $0.32 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.33 by ($0.01). The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.02 billion. DexCom had a net margin of 14.29% and a return on equity of 30.14%. DexCom's revenue was up 12.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.32 EPS. On average, analysts anticipate that DexCom, Inc. will post 2.03 earnings per share for the current fiscal year.

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.