DexCom’s (DXCM) “Buy” Rating Reiterated at Truist Financial

Truist Financial reissued their buy rating on shares of DexCom (NASDAQ:DXCM) in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has a $82.00 target price on the medical device company’s stock, down from their prior target price of $94.00.

Several other brokerages have also recently weighed in on DXCM. Piper Sandler set a $75.00 price objective on DexCom and gave the stock a “buy” rating in a research note on Friday, October 31st. Mizuho lifted their target price on DexCom from $95.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, July 16th. Wall Street Zen lowered DexCom from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 10th. Royal Bank Of Canada lowered their price target on DexCom from $100.00 to $85.00 and set an “outperform” rating for the company in a research report on Friday, October 31st. Finally, Stifel Nicolaus initiated coverage on shares of DexCom in a research report on Tuesday, October 21st. They set a “buy” rating and a $85.00 price objective on the stock. Three research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $89.33.

DexCom Trading Down 3.1%

Shares of DXCM opened at $59.28 on Monday. The stock has a market capitalization of $23.12 billion, a PE ratio of 41.17, a P/E/G ratio of 1.43 and a beta of 1.40. The company’s fifty day moving average is $69.99 and its 200 day moving average is $77.78. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.35 and a current ratio of 1.52. DexCom has a fifty-two week low of $56.44 and a fifty-two week high of $93.25.

DexCom (NASDAQ:DXCM) last posted its earnings results on Thursday, October 30th. The medical device company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.18 billion. DexCom had a net margin of 13.29% and a return on equity of 30.41%. The business’s quarterly revenue was up 21.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.45 EPS. DexCom has set its FY 2025 guidance at EPS. Sell-side analysts expect that DexCom will post 2.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Mark G. Foletta sold 2,750 shares of the firm’s stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $81.06, for a total value of $222,915.00. Following the transaction, the director owned 51,121 shares of the company’s stock, valued at $4,143,868.26. This trade represents a 5.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Sadie Stern sold 1,466 shares of the business’s stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $80.00, for a total transaction of $117,280.00. Following the completion of the sale, the executive vice president directly owned 105,223 shares of the company’s stock, valued at approximately $8,417,840. This trade represents a 1.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 5,383 shares of company stock worth $434,274. 0.32% of the stock is currently owned by company insiders.

Institutional Trading of DexCom

Several institutional investors and hedge funds have recently modified their holdings of the stock. Nuveen LLC purchased a new position in DexCom during the 1st quarter worth $554,893,000. Norges Bank bought a new position in shares of DexCom during the 2nd quarter worth $453,279,000. Groupama Asset Managment increased its stake in shares of DexCom by 79,043.1% during the second quarter. Groupama Asset Managment now owns 4,016,513 shares of the medical device company’s stock valued at $350,601,000 after buying an additional 4,011,438 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of DexCom by 106.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 6,605,687 shares of the medical device company’s stock valued at $576,610,000 after acquiring an additional 3,410,858 shares in the last quarter. Finally, Jennison Associates LLC raised its holdings in shares of DexCom by 37.7% in the first quarter. Jennison Associates LLC now owns 10,523,246 shares of the medical device company’s stock valued at $718,632,000 after acquiring an additional 2,879,489 shares in the last quarter. Institutional investors own 97.75% of the company’s stock.

About DexCom

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.