DexCom (NASDAQ:DXCM) Stock Price Expected to Rise, UBS Group Analyst Says

Key Points

• UBS Group raised its target price for DexCom (NASDAQ:DXCM) from $105.00 to $106.00, suggesting a potential upside of 27.37% from the last close.
• Various analysts have given DexCom a "buy" rating, with a current average rating of "Moderate Buy" and a consensus price target of $99.21.
• DexCom reported $0.48 earnings per share (EPS) for the last quarter, exceeding analysts' expectations and reflecting a 15.2% year-over-year revenue growth.

DexCom (NASDAQ:DXCM - Get Free Report) had its price objective increased by equities researchers at UBS Group from $105.00 to $106.00 in a report issued on Thursday,Benzinga reports. The firm currently has a "buy" rating on the medical device company's stock. UBS Group's target price suggests a potential upside of 33.70% from the company's current price.

A number of other equities research analysts have also recently weighed in on the stock. Morgan Stanley lifted their price target on shares of DexCom from $82.00 to $89.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. Truist Financial started coverage on shares of DexCom in a report on Monday, June 16th. They issued a "buy" rating and a $102.00 price objective for the company. Mizuho lifted their price objective on shares of DexCom from $95.00 to $100.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. Citigroup restated a "buy" rating and issued a $102.00 price objective (up previously from $82.00) on shares of DexCom in a report on Thursday, May 22nd. Finally, Wall Street Zen upgraded shares of DexCom from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Four research analysts have rated the stock with a hold rating, fifteen have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $99.89.

DexCom Trading Down 1.8%

DXCM stock traded down $1.49 during trading on Thursday, reaching $79.28. 5,238,279 shares of the stock were exchanged, compared to its average volume of 2,953,501. The company has a current ratio of 1.52, a quick ratio of 1.32 and a debt-to-equity ratio of 0.48. The business has a 50 day moving average price of $84.57 and a 200-day moving average price of $80.62. DexCom has a 1 year low of $57.52 and a 1 year high of $93.25. The firm has a market capitalization of $31.09 billion, a price-to-earnings ratio of 55.06, a P/E/G ratio of 1.71 and a beta of 1.44.

DexCom (NASDAQ:DXCM - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The medical device company reported $0.48 earnings per share 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 business had revenue of $1.16 billion during the quarter, compared to analysts' expectations of $1.13 billion. During the same period last year, the business earned $0.43 earnings per share. The business's revenue for the quarter was up 15.2% on a year-over-year basis. On average, research analysts predict that DexCom will post 2.03 earnings per share for the current year.

Insider Activity at DexCom

In other news, Director Nicholas Augustinos sold 3,672 shares of the business's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $82.80, for a total transaction of $304,041.60. Following the completion of the sale, the director owned 33,411 shares in the company, valued at approximately $2,766,430.80. The trade was a 9.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael Jon Brown sold 500 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $82.80, for a total value of $41,400.00. Following the transaction, the executive vice president owned 95,102 shares in the company, valued at $7,874,445.60. This represents a 0.52% 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. 0.32% of the stock is owned by corporate insiders.

Institutional Trading of DexCom

Large investors have recently bought and sold shares of the business. Golden State Wealth Management LLC boosted its stake in 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 purchasing an additional 264 shares during the period. Zions Bancorporation National Association UT acquired a new stake in DexCom during the 1st quarter worth $27,000. Optiver Holding B.V. acquired a new stake in DexCom during the 4th quarter worth $33,000. Anderson Financial Strategies LLC acquired a new stake in DexCom during the 1st quarter worth $37,000. Finally, Heck Capital Advisors LLC acquired a new stake in DexCom during the 4th quarter worth $38,000. Institutional investors and hedge funds 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.