Truist Financial Issues Pessimistic Forecast for DexCom (NASDAQ:DXCM) Stock Price

Key Points

• Truist Financial has reduced its target price for DexCom from $102.00 to $94.00, while maintaining a "buy" rating, indicating a potential upside of 43.80% from the current price.
• Analysts have mixed opinions on DexCom, with three rating it as a Strong Buy and fourteen as a Buy, giving an overall average rating of "Moderate Buy" and an average price target of $97.00.
• Despite recent stock performance showing a dip to $65.37, DexCom reported earnings exceeding consensus estimates, with a 15.2% year-over-year revenue increase to $1.16 billion.

DexCom (NASDAQ:DXCM - Get Free Report) had its target price cut by analysts at Truist Financial from $102.00 to $94.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the medical device company's stock. Truist Financial's target price suggests a potential upside of 43.80% from the stock's current price.

A number of other equities analysts have also commented on DXCM. William Blair raised DexCom to a "strong-buy" rating in a research note on Thursday, July 31st. Raymond James Financial upped their price objective on DexCom from $99.00 to $102.00 and gave the company a "strong-buy" rating in a research report on Thursday, July 31st. Oppenheimer downgraded DexCom from an "outperform" rating to a "market perform" rating in a research report on Monday, September 8th. Piper Sandler upped their price objective on DexCom from $90.00 to $100.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of DexCom in a research report on Wednesday, October 8th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, DexCom has an average rating of "Moderate Buy" and an average price target of $97.00.

DexCom Price Performance

DexCom stock traded down $0.84 during midday trading on Wednesday, reaching $65.37. 678,056 shares of the stock traded hands, compared to its average volume of 4,201,994. The stock's fifty day moving average is $74.01 and its 200-day moving average is $77.62. DexCom has a 12 month low of $57.52 and a 12 month high of $93.25. The stock has a market cap of $25.64 billion, a P/E ratio of 45.45, a PEG ratio of 1.37 and a beta of 1.47. The company has a quick ratio of 1.35, a current ratio of 1.52 and a debt-to-equity ratio of 0.48.

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. DexCom had a return on equity of 30.41% and a net margin of 13.29%.The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same period in the prior year, the company earned $0.43 earnings per share. The firm's revenue was up 15.2% on a year-over-year basis. DexCom has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that DexCom will post 2.03 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Sadie Stern sold 1,466 shares of the stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $80.00, for a total value of $117,280.00. Following the transaction, the executive vice president owned 105,223 shares of the company's stock, valued at $8,417,840. This represents a 1.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark G. Foletta sold 2,750 shares of the stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $81.06, for a total value of $222,915.00. Following the completion of the transaction, the director directly owned 51,121 shares in the company, valued at approximately $4,143,868.26. This trade represents a 5.10% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,849 shares of company stock valued at $564,733. Corporate insiders own 0.32% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Horizon Investments LLC raised its stake in shares of DexCom by 2.2% during the 1st quarter. Horizon Investments LLC now owns 5,608 shares of the medical device company's stock valued at $383,000 after buying an additional 123 shares during the last quarter. Wedbush Securities Inc. increased its stake in shares of DexCom by 1.2% in the 1st quarter. Wedbush Securities Inc. now owns 13,168 shares of the medical device company's stock valued at $899,000 after purchasing an additional 157 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of DexCom by 2.5% in the 3rd quarter. GAMMA Investing LLC now owns 7,043 shares of the medical device company's stock valued at $474,000 after purchasing an additional 169 shares in the last quarter. Argonautica Private Wealth Management Inc. increased its stake in shares of DexCom by 3.2% in the 1st quarter. Argonautica Private Wealth Management Inc. now owns 5,958 shares of the medical device company's stock valued at $407,000 after purchasing an additional 182 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. increased its stake in shares of DexCom by 3.2% in the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,019 shares of the medical device company's stock valued at $411,000 after purchasing an additional 187 shares in the last quarter. Institutional investors own 97.75% of the company's stock.

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.

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