Truist Financial Initiates Coverage on DexCom (NASDAQ:DXCM)

Truist Financial began coverage on shares of DexCom (NASDAQ:DXCM - Free Report) in a report published on Monday morning, MarketBeat reports. The firm issued a buy rating and a $102.00 price objective on the medical device company's stock.

Other equities analysts have also recently issued research reports about the company. Barclays boosted their price objective on DexCom from $90.00 to $93.00 and gave the company an "equal weight" rating in a report on Monday, May 5th. Mizuho began coverage on DexCom in a report on Thursday, April 10th. They issued an "outperform" rating and a $85.00 price objective for the company. Citigroup reaffirmed a "buy" rating and issued a $102.00 price target (up previously from $82.00) on shares of DexCom in a report on Thursday, May 22nd. Wall Street Zen raised DexCom from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Finally, Robert W. Baird reduced 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 investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, DexCom has an average rating of "Moderate Buy" and an average target price of $98.50.

DexCom Stock Performance

DexCom stock traded up $1.01 during trading hours on Monday, hitting $83.00. 3,446,203 shares of the stock traded hands, compared to its average volume of 4,346,736. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.47 and a quick ratio of 1.28. The firm's 50 day moving average price is $78.50 and its 200-day moving average price is $79.33. The stock has a market capitalization of $32.54 billion, a price-to-earnings ratio of 58.04, a P/E/G ratio of 2.30 and a beta of 1.46. DexCom has a 1 year low of $57.52 and a 1 year high of $117.91.

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 (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.01). The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.02 billion. DexCom had a net margin of 14.29% and a return on equity of 30.14%. The business's quarterly revenue was up 12.5% compared to the same quarter last year. During the same period last year, the firm earned $0.32 EPS. As a group, equities analysts expect that DexCom will post 2.03 EPS for the current fiscal year.

Insider Activity 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 stock was sold at an average price of $85.11, for a total value of $526,320.24. Following the completion of the sale, the executive vice president now owns 109,621 shares of the company's stock, valued at approximately $9,329,843.31. This trade represents a 5.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael Jon Brown sold 10,000 shares of the stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $84.28, for a total value of $842,800.00. Following the completion of the transaction, the executive vice president now owns 95,602 shares of the company's stock, valued at $8,057,336.56. The trade was a 9.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.32% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Private Trust Co. NA grew its position in DexCom by 266.3% in the fourth quarter. Private Trust Co. NA now owns 337 shares of the medical device company's stock worth $26,000 after acquiring an additional 245 shares during the period. Golden State Wealth Management LLC grew its position in DexCom by 211.2% in the first quarter. Golden State Wealth Management LLC now owns 389 shares of the medical device company's stock worth $27,000 after acquiring an additional 264 shares during the period. Zions Bancorporation National Association UT purchased a new position in DexCom in the first quarter worth approximately $27,000. Optiver Holding B.V. purchased a new position in DexCom in the fourth quarter worth approximately $33,000. Finally, TD Private Client Wealth LLC grew its position in DexCom by 62.8% in the fourth quarter. TD Private Client Wealth LLC now owns 433 shares of the medical device company's stock worth $34,000 after acquiring an additional 167 shares during the period. 97.75% of the stock is currently owned by hedge funds and other institutional investors.

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.