DexCom (NASDAQ:DXCM) Announces Quarterly Earnings Results

Key Points

• DexCom exceeded quarterly expectations: The continuous glucose monitoring company reported adjusted earnings of $0.73 per share, above the $0.68 consensus estimate, while revenue reached $1.34 billion versus $1.33 billion expected.
• Shares rose following the results: DexCom stock gained $1.31 to $79.93, with a market capitalization of approximately $30.16 billion.
• Analysts remain bullish: The stock has a consensus “Buy” rating and an average price target of $92.43, although insiders sold a combined 26,822 shares worth about $2.25 million over the last quarter.

DexCom (NASDAQ:DXCM - Get Free Report) released its quarterly earnings results on Thursday. The medical device company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.68 by $0.05, FiscalAI reports. The business had revenue of $1.34 billion for the quarter, compared to analysts' expectations of $1.33 billion. DexCom had a return on equity of 35.94% and a net margin of 20.12%.

DexCom Price Performance

DexCom stock traded up $1.31 on Thursday, reaching $79.93. The company's stock had a trading volume of 5,907,540 shares, compared to its average volume of 5,004,530. DexCom has a twelve month low of $54.11 and a twelve month high of $92.59. The company has a market cap of $30.16 billion, a price-to-earnings ratio of 31.59, a PEG ratio of 1.31 and a beta of 1.48. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.43 and a current ratio of 1.73. The business's fifty day moving average price is $86.18 and its 200 day moving average price is $74.54.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company upped their price objective on shares of DexCom from $85.00 to $90.00 and gave the stock an "overweight" rating in a report on Friday, July 31st. Truist Financial set a $102.00 target price on DexCom and gave the company a "buy" rating in a report on Friday, September 18th. Mizuho set a $100.00 price target on shares of DexCom in a report on Tuesday, October 13th. Stifel Nicolaus set a $95.00 target price on DexCom and gave the company a "buy" rating in a research note on Friday, July 31st. Finally, TD Cowen reaffirmed a "buy" rating and set a $95.00 price objective on shares of DexCom in a research report on Friday, September 18th. Three investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $92.43.

Insider Activity at DexCom

In other news, EVP Sadie Stern sold 2,565 shares of the company's stock in a transaction on Tuesday, October 27th. The stock was sold at an average price of $78.62, for a total transaction of $201,660.30. Following the transaction, the executive vice president owned 120,913 shares of the company's stock, valued at $9,506,180.06. This represents a 2.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Brown sold 1,700 shares of DexCom stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $85.48, for a total transaction of $145,316.00. Following the sale, the executive vice president owned 98,185 shares of the company's stock, valued at approximately $8,392,853.80. This represents a 1.70% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 26,822 shares of company stock valued at $2,250,833 over the last quarter. 0.28% of the stock is currently owned by corporate insiders.

DexCom Company Profile

DexCom, Inc develops and commercializes continuous glucose monitoring (CGM) systems for people with diabetes. Its devices use a small wearable sensor to measure glucose levels in real time and transmit readings to compatible smartphones, receivers, smartwatches, and other connected devices, helping users monitor glucose trends and make informed decisions about their health.

The company's product portfolio includes the Dexcom G7 and Dexcom G6 CGM systems, as well as Dexcom ONE and Dexcom ONE+ products offered in select markets.

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