DexCom (NASDAQ:DXCM) Upgraded to "Strong-Buy" at William Blair

Key Points

• DexCom has been upgraded to a "strong-buy" rating by William Blair, reflecting positive market sentiment.
• Several analysts have revised their price targets for DexCom, with Barclays setting it at $98 and Mizuho at $100.
• DexCom reported $1.16 billion in revenue for the latest quarter, surpassing analyst expectations, and showed a year-over-year revenue growth of 15.2%.

DexCom (NASDAQ:DXCM - Get Free Report) was upgraded by equities researchers at William Blair to a "strong-buy" rating in a research note issued on Thursday,Zacks.com reports.

Several other research analysts have also issued reports on the company. Barclays raised their target price on DexCom from $93.00 to $98.00 and gave the stock an "equal weight" rating in a research report on Wednesday. Mizuho increased their price target on DexCom from $95.00 to $100.00 and gave the stock an "outperform" rating in a report on Wednesday, July 16th. Truist Financial initiated coverage on DexCom in a report on Monday, June 16th. They set a "buy" rating and a $102.00 price target for the company. Piper Sandler increased their price target on DexCom from $90.00 to $100.00 and gave the stock an "overweight" rating in a report on Thursday. Finally, Robert W. Baird decreased their price target on DexCom from $115.00 to $105.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Four equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, DexCom has an average rating of "Buy" and an average price target of $99.89.

DexCom Stock Down 1.8%

Shares of DXCM opened at $79.28 on Thursday. DexCom has a 52 week low of $57.52 and a 52 week high of $93.25. The stock has a market capitalization of $31.09 billion, a price-to-earnings ratio of 55.06, a PEG ratio of 1.71 and a beta of 1.44. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.32 and a current ratio of 1.52. The stock has a fifty day moving average of $84.57 and a 200-day moving average of $80.62.

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

Insider Buying and Selling

In other DexCom news, EVP Sadie Stern sold 6,184 shares of DexCom stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $85.11, for a total transaction of $526,320.24. Following the completion of the transaction, the executive vice president owned 109,621 shares in the company, valued at approximately $9,329,843.31. The trade was a 5.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark G. Foletta sold 2,750 shares of DexCom stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $83.13, for a total transaction of $228,607.50. Following the transaction, the director directly owned 56,621 shares in the company, valued at approximately $4,706,903.73. This represents a 4.63% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,656 shares of company stock worth $2,412,191 over the last 90 days. Company insiders own 0.32% of the company's stock.

Hedge Funds Weigh In On DexCom

Several hedge funds have recently modified their holdings of DXCM. Golden State Wealth Management LLC lifted its position in shares of DexCom by 211.2% during the 1st quarter. Golden State Wealth Management LLC now owns 389 shares of the medical device company's stock worth $27,000 after buying an additional 264 shares in the last quarter. Zions Bancorporation National Association UT bought a new stake in shares of DexCom in the 1st quarter worth approximately $27,000. Optiver Holding B.V. bought a new stake in shares of DexCom in the 4th quarter worth approximately $33,000. Anderson Financial Strategies LLC bought a new stake in shares of DexCom in the 1st quarter worth approximately $37,000. Finally, Heck Capital Advisors LLC bought a new stake in shares of DexCom in the 4th quarter worth approximately $38,000. Institutional investors 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.

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