DexCom (NASDAQ:DXCM) Upgraded to "Outperform" at Evercore

Key Points

• Evercore upgraded DexCom to "Outperform" and set a $90 price target, implying roughly a 36.5% upside from the stock's current level.
• Analyst consensus is broadly positive, with 2 Strong Buy, 18 Buy, 3 Hold and 1 Sell ratings and a MarketBeat consensus price target of $86.50 ("Moderate Buy").
• Recent quarter showed an earnings beat—$0.68 EPS vs. $0.65 expected and $1.26B revenue (up 13.1% YoY); the shares trade near $65.94 with a market cap of about $25.4B and a P/E around 31.

DexCom (NASDAQ:DXCM - Get Free Report) was upgraded by research analysts at Evercore from an "in-line" rating to an "outperform" rating in a research report issued to clients and investors on Tuesday,Finviz reports. The firm currently has a $90.00 price target on the medical device company's stock. Evercore's price target would indicate a potential upside of 36.49% from the company's current price.

Other research analysts have also issued research reports about the stock. Wells Fargo & Company reduced their price objective on shares of DexCom from $93.00 to $85.00 and set an "overweight" rating on the stock in a research note on Friday, February 13th. Mizuho increased their target price on shares of DexCom from $78.00 to $90.00 and gave the stock an "outperform" rating in a report on Friday, February 13th. Canaccord Genuity Group set a $95.00 price target on shares of DexCom and gave the stock a "buy" rating in a research report on Friday, February 13th. Robert W. Baird set a $87.00 price target on shares of DexCom in a report on Friday, February 13th. Finally, BTIG Research restated a "buy" rating and issued a $85.00 price objective on shares of DexCom in a research report on Monday, March 9th. Two research analysts have rated the stock with a Strong Buy rating, eighteen 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 data from MarketBeat, DexCom presently has an average rating of "Moderate Buy" and a consensus price target of $86.50.

DexCom Trading Down 1.5%

NASDAQ DXCM opened at $65.94 on Tuesday. DexCom has a 12 month low of $54.11 and a 12 month high of $89.98. The stock has a 50-day simple moving average of $70.40 and a 200 day simple moving average of $67.93. The company has a current ratio of 1.88, a quick ratio of 1.59 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $25.38 billion, a PE ratio of 31.40, a P/E/G ratio of 1.30 and a beta of 1.48.

DexCom (NASDAQ:DXCM - Get Free Report) last issued its earnings results on Thursday, February 12th. The medical device company reported $0.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.65 by $0.03. The firm had revenue of $1.26 billion for the quarter, compared to analysts' expectations of $1.25 billion. DexCom had a return on equity of 32.12% and a net margin of 17.94%.The company's revenue was up 13.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.45 earnings per share. Research analysts forecast that DexCom will post 2.03 EPS for the current year.

Insider Transactions at DexCom

In other DexCom news, EVP Michael Jon Brown sold 1,700 shares of the business's stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $64.85, for a total value of $110,245.00. Following the sale, the executive vice president owned 112,904 shares in the company, valued at approximately $7,321,824.40. The trade was a 1.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.32% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Brighton Jones LLC increased its position in shares of DexCom by 257.7% during the 4th quarter. Brighton Jones LLC now owns 16,582 shares of the medical device company's stock worth $1,290,000 after purchasing an additional 11,946 shares during the last quarter. Integrated Wealth Concepts LLC grew its stake in shares of DexCom by 6.3% in the first quarter. Integrated Wealth Concepts LLC now owns 3,329 shares of the medical device company's stock valued at $227,000 after buying an additional 196 shares in the last quarter. Empowered Funds LLC grew its stake in shares of DexCom by 5.4% in the first quarter. Empowered Funds LLC now owns 8,446 shares of the medical device company's stock valued at $577,000 after buying an additional 436 shares in the last quarter. Focus Partners Wealth increased its holdings in DexCom by 13.2% during the first quarter. Focus Partners Wealth now owns 7,218 shares of the medical device company's stock worth $493,000 after buying an additional 841 shares during the last quarter. Finally, Rockefeller Capital Management L.P. bought a new stake in DexCom during the second quarter worth $876,000. 97.75% of the stock is owned by institutional investors and hedge funds.

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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