Leerink Partnrs Issues Positive Estimate for DexCom Earnings

Key Points

• Leerink Partnrs has raised its FY2028 earnings per share (EPS) estimate for DexCom to $3.83, slightly up from a prior estimate of $3.82.
• In its latest quarterly results, DexCom reported a profit of $0.48 per share, exceeding the consensus estimate of $0.45, alongside a 15.2% revenue increase year-over-year.
• Analyst ratings for DexCom have generally been positive, with multiple firms raising price targets and maintaining "buy" or "overweight" ratings amid a strong consensus rating of "Moderate Buy."

DexCom, Inc. (NASDAQ:DXCM - Free Report) - Analysts at Leerink Partnrs increased their FY2028 EPS estimates for shares of DexCom in a research note issued on Wednesday, July 30th. Leerink Partnrs analyst M. Kratky now expects that the medical device company will earn $3.83 per share for the year, up from their prior estimate of $3.82. The consensus estimate for DexCom's current full-year earnings is $2.03 per share. Leerink Partnrs also issued estimates for DexCom's FY2029 earnings at $4.41 EPS.

DexCom (NASDAQ:DXCM - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The medical device company reported $0.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.45 by $0.03. DexCom had a net margin of 13.29% and a return on equity of 30.41%. The company had revenue of $1.16 billion during the quarter, compared to analysts' expectations of $1.13 billion. During the same quarter in the prior year, the company posted $0.43 EPS. The business's revenue was up 15.2% on a year-over-year basis.

Several other equities research analysts have also weighed in on the stock. Wall Street Zen raised shares of DexCom from a "buy" rating to a "strong-buy" rating in a report on Saturday. Raymond James Financial upped their target price on shares of DexCom from $99.00 to $102.00 and gave the stock a "strong-buy" rating in a report on Thursday. Mizuho upped their target price on shares of DexCom from $95.00 to $100.00 and gave the stock an "outperform" rating in a report on Wednesday, July 16th. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $106.00 target price on shares of DexCom in a report on Friday. Finally, William Blair raised shares of DexCom to a "strong-buy" rating in a report on Thursday. Four investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $99.89.

DexCom Price Performance

Shares of DXCM stock traded down $1.49 during mid-day trading on Friday, reaching $79.28. The company's stock had a trading volume of 5,238,279 shares, compared to its average volume of 2,953,501. DexCom has a 1-year low of $57.52 and a 1-year high of $93.25. The company has a market cap of $31.09 billion, a P/E ratio of 55.06, a PEG ratio of 1.68 and a beta of 1.43. 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 firm's 50-day moving average is $84.57 and its two-hundred day moving average is $80.63.

Insider Buying and Selling at DexCom

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

Institutional Trading of DexCom

A number of hedge funds have recently modified their holdings of DXCM. Golden State Wealth Management LLC raised its position in shares of DexCom by 211.2% in the 1st quarter. Golden State Wealth Management LLC now owns 389 shares of the medical device company's stock valued at $27,000 after acquiring an additional 264 shares during the period. Zions Bancorporation National Association UT acquired a new stake in shares of DexCom in the 1st quarter valued at approximately $27,000. Optiver Holding B.V. acquired a new stake in shares of DexCom in the 4th quarter valued at approximately $33,000. Anderson Financial Strategies LLC acquired a new stake in shares of DexCom in the 1st quarter valued at approximately $37,000. Finally, Heck Capital Advisors LLC acquired a new stake in DexCom during the 4th quarter worth approximately $38,000. 97.75% of the stock is currently owned by institutional investors and hedge funds.

DexCom Company Profile

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.