DexCom (NASDAQ:DXCM) Rating Increased to Buy at Wall Street Zen

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

Other analysts have also recently issued reports about the stock. Barclays upped their target price on shares of DexCom from $90.00 to $93.00 and gave the company an "equal weight" rating in a research report on Monday, May 5th. Cfra Research raised shares of DexCom to a "hold" rating in a research report on Friday, March 21st. The Goldman Sachs Group assumed coverage on shares of DexCom in a research report on Friday, May 30th. They issued a "buy" rating and a $104.00 price objective on the stock. Piper Sandler reduced their price objective on shares of DexCom from $100.00 to $90.00 and set an "overweight" rating on the stock in a research report on Friday, May 2nd. Finally, Canaccord Genuity Group increased their price objective on shares of DexCom from $103.00 to $106.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Four investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, DexCom presently has a consensus rating of "Moderate Buy" and an average price target of $98.32.

DexCom Price Performance

Shares of DXCM traded down $0.99 during trading hours on Friday, reaching $85.68. 2,072,291 shares of the stock traded hands, compared to its average volume of 4,331,285. 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 52-week low of $57.52 and a 52-week high of $118.80. The company's 50-day moving average price is $76.38 and its two-hundred day moving average price is $79.09. The company has a market cap of $33.60 billion, a P/E ratio of 59.92, a price-to-earnings-growth ratio of 2.30 and a beta of 1.46.

DexCom (NASDAQ:DXCM - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The medical device company reported $0.32 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 analysts' expectations of $1.02 billion. DexCom had a return on equity of 30.14% and a net margin of 14.29%. The firm's revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.32 EPS. On average, analysts anticipate that DexCom will post 2.03 earnings per share for the current year.

Insider Activity at DexCom

In related news, CEO Kevin R. Sayer sold 32,498 shares of DexCom stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $70.38, for a total transaction of $2,287,209.24. Following the transaction, the chief executive officer now directly owns 372,029 shares of the company's stock, valued at $26,183,401.02. This trade represents a 8.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Michael Jon Brown sold 13,000 shares of DexCom stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $70.38, for a total transaction of $914,940.00. Following the transaction, the executive vice president now directly owns 105,602 shares in the company, valued at approximately $7,432,268.76. The trade was a 10.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 76,110 shares of company stock valued at $5,586,695 over the last ninety days. 0.32% of the stock is owned by company insiders.

Institutional Investors Weigh In On DexCom

Several institutional investors have recently bought and sold shares of the company. Forvis Mazars Wealth Advisors LLC boosted its stake in DexCom by 0.7% in the fourth quarter. Forvis Mazars Wealth Advisors LLC now owns 17,481 shares of the medical device company's stock valued at $1,359,000 after acquiring an additional 118 shares in the last quarter. Horizon Investments LLC boosted its stake in DexCom by 2.2% in the first quarter. Horizon Investments LLC now owns 5,608 shares of the medical device company's stock valued at $383,000 after acquiring an additional 123 shares in the last quarter. Principal Securities Inc. boosted its stake in DexCom by 3.4% in the fourth quarter. Principal Securities Inc. now owns 4,069 shares of the medical device company's stock valued at $316,000 after acquiring an additional 135 shares in the last quarter. Larson Financial Group LLC boosted its stake in DexCom by 40.5% in the fourth quarter. Larson Financial Group LLC now owns 475 shares of the medical device company's stock valued at $37,000 after acquiring an additional 137 shares in the last quarter. Finally, Nia Impact Advisors LLC boosted its stake in DexCom by 1.4% in the fourth quarter. Nia Impact Advisors LLC now owns 9,850 shares of the medical device company's stock valued at $766,000 after acquiring an additional 140 shares in the last quarter. 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.