DexCom (NASDAQ:DXCM) Stock Price Up 10.3% - Still a Buy?

Shares of DexCom, Inc. (NASDAQ:DXCM - Get Free Report) rose 10.3% during mid-day trading on Tuesday . The company traded as high as $88.10 and last traded at $88.03. Approximately 6,837,395 shares traded hands during trading, an increase of 56% from the average daily volume of 4,373,434 shares. The stock had previously closed at $79.84.

Wall Street Analyst Weigh In

DXCM has been the subject of a number of analyst reports. Wall Street Zen raised DexCom from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. Cfra Research raised DexCom to a "hold" rating in a research note on Friday, March 21st. Canaccord Genuity Group increased their target price on DexCom from $103.00 to $106.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Truist Financial initiated coverage on DexCom in a research note on Monday, June 16th. They set a "buy" rating and a $102.00 target price for the company. Finally, Barclays increased their target price on DexCom from $90.00 to $93.00 and gave the stock an "equal weight" rating in a research note on Monday, May 5th. Four investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $98.50.

DexCom Stock Performance

The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.32 and a current ratio of 1.50. The company has a market cap of $33.85 billion, a P/E ratio of 64.43, a P/E/G ratio of 1.81 and a beta of 1.46. The firm has a 50 day moving average price of $81.70 and a 200-day moving average price of $79.59.

DexCom (NASDAQ:DXCM - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The medical device company reported $0.32 earnings per share for the quarter, missing analysts' consensus estimates of $0.33 by ($0.01). DexCom had a net margin of 12.90% and a return on equity of 30.05%. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the previous year, the business posted $0.32 earnings per share. The firm's revenue was up 12.5% on a year-over-year basis. On average, research analysts predict that DexCom, Inc. will post 2.03 EPS for the current year.

Insiders Place Their Bets

In related news, Director Nicholas Augustinos sold 2,618 shares of the business's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $81.69, for a total value of $213,864.42. Following the sale, the director now owns 37,083 shares of the company's stock, valued at $3,029,310.27. The trade was a 6.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael Jon Brown sold 10,000 shares of the business's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $84.28, for a total value of $842,800.00. Following the completion of the sale, the executive vice president now directly owns 95,602 shares in the company, valued at approximately $8,057,336.56. This represents a 9.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 25,724 shares of company stock valued at $2,157,034 in the last three months. Company insiders own 0.32% of the company's stock.

Hedge Funds Weigh In On DexCom

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Brighton Jones LLC raised its position in shares of DexCom by 257.7% during the fourth quarter. Brighton Jones LLC now owns 16,582 shares of the medical device company's stock worth $1,290,000 after acquiring an additional 11,946 shares during the last quarter. Bank Pictet & Cie Europe AG raised its position in shares of DexCom by 1.8% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 111,063 shares of the medical device company's stock worth $8,637,000 after acquiring an additional 2,010 shares during the last quarter. Private Advisor Group LLC raised its position in shares of DexCom by 33.8% during the fourth quarter. Private Advisor Group LLC now owns 15,149 shares of the medical device company's stock worth $1,178,000 after acquiring an additional 3,831 shares during the last quarter. Rothschild Investment LLC raised its position in shares of DexCom by 250.5% during the fourth quarter. Rothschild Investment LLC now owns 750 shares of the medical device company's stock worth $58,000 after acquiring an additional 536 shares during the last quarter. Finally, Los Angeles Capital Management LLC raised its position in shares of DexCom by 1,104.7% during the fourth quarter. Los Angeles Capital Management LLC now owns 81,091 shares of the medical device company's stock worth $6,306,000 after acquiring an additional 74,360 shares during the last quarter. Institutional investors and hedge funds 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.