Wall Street Zen Downgrades DexCom (NASDAQ:DXCM) to Buy

Wall Street Zen lowered shares of DexCom (NASDAQ:DXCMFree Report) from a strong-buy rating to a buy rating in a report released on Sunday morning.

Several other brokerages have also recently weighed in on DXCM. Barclays lifted their price target on DexCom from $93.00 to $98.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 30th. Mizuho lifted their price target on DexCom from $95.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, July 16th. Truist Financial began coverage on DexCom in a research report on Monday, June 16th. They set a “buy” rating and a $102.00 price target for the company. Raymond James Financial lifted their price target on DexCom from $99.00 to $102.00 and gave the company a “strong-buy” rating in a research report on Thursday, July 31st. Finally, Piper Sandler lifted their price target on DexCom from $90.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, July 31st. Four research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $99.89.

Read Our Latest Stock Report on DXCM

DexCom Trading Up 3.2%

Shares of NASDAQ:DXCM opened at $78.86 on Friday. DexCom has a 52-week low of $57.52 and a 52-week high of $93.25. The stock has a market cap of $30.92 billion, a price-to-earnings ratio of 54.76, a PEG ratio of 1.65 and a beta of 1.43. The company has a quick ratio of 1.35, a current ratio of 1.52 and a debt-to-equity ratio of 0.48. The business has a 50-day moving average price of $83.68 and a 200-day moving average price of $80.27.

DexCom (NASDAQ:DXCMGet Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The medical device company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.03. DexCom had a return on equity of 30.41% and a net margin of 13.29%. The firm 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 posted $0.43 earnings per share. The company’s revenue for the quarter was up 15.2% compared to the same quarter last year. Equities analysts predict that DexCom will post 2.03 EPS for the current year.

Insider Transactions at DexCom

In other news, Director Mark G. Foletta sold 2,750 shares of DexCom stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $83.13, for a total value of $228,607.50. Following the sale, the director directly owned 56,621 shares of the company’s stock, valued at $4,706,903.73. The trade was a 4.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Michael Jon Brown sold 500 shares of DexCom 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 completion of the sale, the executive vice president directly owned 95,102 shares in the company, valued at $7,874,445.60. This represents a 0.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 28,656 shares of company stock valued at $2,412,191. Insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On DexCom

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Horizon Investments LLC boosted its position 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 worth $383,000 after acquiring an additional 123 shares in the last quarter. Nia Impact Advisors LLC boosted its position in shares of DexCom by 1.4% in the 4th quarter. Nia Impact Advisors LLC now owns 9,850 shares of the medical device company’s stock valued at $766,000 after purchasing an additional 140 shares during the period. Covestor Ltd boosted its position in shares of DexCom by 15.6% in the 4th quarter. Covestor Ltd now owns 1,109 shares of the medical device company’s stock valued at $86,000 after purchasing an additional 150 shares during the period. Wedbush Securities Inc. raised its stake in DexCom by 1.2% during the 1st quarter. Wedbush Securities Inc. now owns 13,168 shares of the medical device company’s stock valued at $899,000 after acquiring an additional 157 shares during the last quarter. Finally, Argonautica Private Wealth Management Inc. raised its stake in DexCom by 3.2% during 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 acquiring an additional 182 shares during the last quarter. Institutional investors and hedge funds own 97.75% of the company’s stock.

About DexCom

(Get Free Report)

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.

See Also

Analyst Recommendations for DexCom (NASDAQ:DXCM)

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