DexCom (NASDAQ:DXCM) Stock Price Expected to Rise, Argus Analyst Says

Key Points

• Argus raised DexCom’s price target to $96 from $86 and maintained a “buy” rating, implying about 10.9% upside from the reported $86.53 share price.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and average price target of $88.71; multiple firms recently reiterated or upgraded their bullish views.
• DexCom exceeded quarterly expectations, reporting $0.70 in earnings per share versus a $0.61 consensus estimate and $1.31 billion in revenue, up 13.1% year over year.

DexCom (NASDAQ:DXCM - Get Free Report) had its price objective increased by analysts at Argus from $86.00 to $96.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the medical device company's stock. Argus' target price points to a potential upside of 10.94% from the company's current price.

Several other equities research analysts also recently weighed in on the company. Deutsche Bank Aktiengesellschaft initiated coverage on DexCom in a report on Tuesday, June 23rd. They issued a "buy" rating and a $86.00 price objective for the company. Royal Bank Of Canada lifted their target price on shares of DexCom from $85.00 to $90.00 and gave the company an "outperform" rating in a report on Friday. TD Cowen reiterated a "buy" rating on shares of DexCom in a research report on Friday. Benchmark increased their price target on shares of DexCom from $77.00 to $82.00 and gave the stock a "buy" rating in a research note on Friday. Finally, Raymond James Financial reissued a "strong-buy" rating and set a $94.00 price objective on shares of DexCom in a research report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, DexCom has a consensus rating of "Moderate Buy" and a consensus target price of $88.71.

DexCom Stock Down 0.9%

Shares of DexCom stock traded down $0.78 during trading hours on Tuesday, hitting $86.53. The company had a trading volume of 980,893 shares, compared to its average volume of 5,261,203. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.73 and a quick ratio of 1.43. The company's 50-day moving average is $73.44 and its two-hundred day moving average is $69.31. The company has a market cap of $32.65 billion, a P/E ratio of 34.16, a price-to-earnings-growth ratio of 1.36 and a beta of 1.41. DexCom has a twelve month low of $54.11 and a twelve month high of $87.85.

DexCom (NASDAQ:DXCM - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The medical device company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.61 by $0.09. The firm had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.29 billion. DexCom had a net margin of 20.12% and a return on equity of 35.94%. DexCom's revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period last year, the business earned $0.48 EPS. Analysts anticipate that DexCom will post 2.6 earnings per share for the current fiscal year.

Insider Activity at DexCom

In other DexCom news, insider Kevin R. Sayer sold 26,756 shares of the business's stock in a transaction on Monday, July 20th. The shares were sold at an average price of $76.32, for a total transaction of $2,042,017.92. Following the sale, the insider directly owned 328,970 shares in the company, valued at approximately $25,106,990.40. The trade was a 7.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Jon Brown sold 1,700 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $75.55, for a total transaction of $128,435.00. Following the completion of the transaction, the executive vice president owned 106,353 shares of the company's stock, valued at $8,034,969.15. This represents a 1.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 98,506 shares of company stock worth $7,205,258. 0.28% of the stock is currently owned by insiders.

Institutional Investors Weigh In On DexCom

Several institutional investors have recently modified their holdings of the company. Reflection Asset Management acquired a new stake in DexCom in the fourth quarter valued at $25,000. Ascentis Independent Advisors acquired a new position in shares of DexCom during the 1st quarter worth $25,000. MCF Advisors LLC purchased a new stake in shares of DexCom in the 4th quarter worth about $32,000. Wellington Grp LLC boosted its position in shares of DexCom by 778.7% in the 1st quarter. Wellington Grp LLC now owns 536 shares of the medical device company's stock worth $34,000 after buying an additional 475 shares in the last quarter. Finally, DV Equities LLC acquired a new stake in DexCom in the 4th quarter valued at about $36,000. Hedge funds and other institutional investors own 97.75% of the company's stock.

About DexCom

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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