Wall Street Zen Upgrades DexCom (NASDAQ:DXCM) to "Buy"

DexCom (NASDAQ:DXCM - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued on Friday.

DXCM has been the topic of several other reports. Citigroup reissued a "buy" rating and set a $102.00 price target (up from $82.00) on shares of DexCom in a research note on Thursday, May 22nd. Cfra Research upgraded shares of DexCom to a "hold" rating in a report on Friday, March 21st. Barclays lifted their price target on shares of DexCom from $90.00 to $93.00 and gave the company an "equal weight" rating in a report on Monday, May 5th. Wells Fargo & Company restated an "overweight" rating on shares of DexCom in a report on Saturday, March 8th. Finally, Canaccord Genuity Group boosted their target price on shares of DexCom from $103.00 to $106.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Four analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, DexCom presently has an average rating of "Moderate Buy" and a consensus price target of $98.32.

DexCom Price Performance

Shares of DXCM stock traded up $0.93 during trading hours on Friday, reaching $86.67. The stock had a trading volume of 2,422,601 shares, compared to its average volume of 4,335,033. The stock's fifty day simple moving average is $76.38 and its 200 day simple moving average is $79.04. The company has a current ratio of 1.47, a quick ratio of 1.28 and a debt-to-equity ratio of 0.59. DexCom has a 12 month low of $57.52 and a 12 month high of $118.80. The firm has a market capitalization of $33.98 billion, a PE ratio of 60.61, a PEG ratio of 2.30 and a beta of 1.46.

DexCom (NASDAQ:DXCM - Get Free Report) last announced its earnings results on Thursday, May 1st. The medical device company reported $0.32 earnings per share for the quarter, missing analysts' consensus estimates of $0.33 by ($0.01). The company had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.02 billion. DexCom had a net margin of 14.29% and a return on equity of 30.14%. The company's revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.32 earnings per share. On average, equities research analysts predict that DexCom will post 2.03 EPS for the current year.

Insider Activity

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 completion of the sale, the executive vice president now directly owns 109,621 shares of the company's stock, valued at approximately $9,329,843.31. This represents a 5.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Jereme M. Sylvain sold 7,000 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $73.83, for a total transaction of $516,810.00. Following the completion of the sale, the executive vice president now directly owns 135,482 shares of the company's stock, valued at $10,002,636.06. This represents a 4.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 83,110 shares of company stock valued at $6,103,505 in the last quarter. 0.32% of the stock is currently owned by insiders.

Institutional Trading of DexCom

Institutional investors and hedge funds have recently bought and sold shares of the stock. Private Trust Co. NA increased its holdings in DexCom by 266.3% in the 4th quarter. Private Trust Co. NA now owns 337 shares of the medical device company's stock valued at $26,000 after acquiring an additional 245 shares during the last quarter. Golden State Wealth Management LLC boosted its stake in shares of 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 bought a new stake in DexCom during the 1st quarter valued at about $27,000. Optiver Holding B.V. bought a new stake in DexCom during the 4th quarter valued at about $33,000. Finally, TD Private Client Wealth LLC lifted its holdings in DexCom by 62.8% during the 4th quarter. TD Private Client Wealth LLC now owns 433 shares of the medical device company's stock valued at $34,000 after buying an additional 167 shares in the last quarter. 97.75% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.