Argus Issues Positive Forecast for DexCom (NASDAQ:DXCM) Stock Price

DexCom (NASDAQ:DXCM) had its price objective upped by stock analysts at Argus from $86.00 to $96.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the medical device company’s stock. Argus’ price target indicates a potential upside of 10.94% from the stock’s current price.

A number of other research analysts have also issued reports on the stock. William Blair upgraded shares of DexCom to a “strong-buy” rating in a report on Friday, May 15th. Robert W. Baird set a $105.00 target price on shares of DexCom in a research note on Friday. JPMorgan Chase & Co. increased their price target on DexCom from $65.00 to $82.00 and gave the stock a “neutral” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft initiated coverage on DexCom in a research report on Tuesday, June 23rd. They issued a “buy” rating and a $86.00 price objective for the company. Finally, Truist Financial set a $93.00 target price on DexCom and gave the company a “buy” rating in a research note on Friday. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $88.71.

DexCom Price Performance

DexCom stock traded down $0.78 during mid-day trading on Tuesday, hitting $86.53. 980,893 shares of the company were exchanged, compared to its average volume of 5,261,203. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.73 and a quick ratio of 1.43. The business’s 50 day simple moving average is $73.44 and its two-hundred day simple moving average is $69.31. The company has a market capitalization of $32.65 billion, a P/E ratio of 34.16, a PEG ratio of 1.36 and a beta of 1.41. DexCom has a 12-month low of $54.11 and a 12-month high of $87.85.

DexCom (NASDAQ:DXCM) last issued its quarterly earnings data on Thursday, July 30th. The medical device company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.09. The business had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.29 billion. DexCom had a return on equity of 35.94% and a net margin of 20.12%.The business’s revenue was up 13.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.48 earnings per share. Analysts forecast that DexCom will post 2.6 earnings per share for the current fiscal year.

Insider Activity at DexCom

In related news, Director Bridgette P. Heller sold 1,012 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $60.01, for a total value of $60,730.12. Following the transaction, the director directly owned 25,007 shares of the company’s stock, valued at approximately $1,500,670.07. This trade represents a 3.89% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kevin R. Sayer sold 26,756 shares of DexCom stock in a transaction on Monday, July 20th. The shares were sold at an average price of $76.32, for a total value of $2,042,017.92. Following the completion of the transaction, the insider owned 328,970 shares in the company, valued at $25,106,990.40. The trade was a 7.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 98,506 shares of company stock worth $7,205,258. 0.28% of the stock is owned by corporate insiders.

Institutional Trading of DexCom

A number of institutional investors have recently modified their holdings of the company. SWS Partners acquired a new position in DexCom during the second quarter valued at approximately $2,896,000. Tema ETFs LLC raised its stake in shares of DexCom by 14.2% in the 2nd quarter. Tema ETFs LLC now owns 21,664 shares of the medical device company’s stock valued at $1,459,000 after acquiring an additional 2,688 shares during the period. E. Ohman J or Asset Management AB raised its stake in shares of DexCom by 18.9% in the 2nd quarter. E. Ohman J or Asset Management AB now owns 113,204 shares of the medical device company’s stock valued at $7,624,000 after acquiring an additional 18,012 shares during the period. Paladin Wealth LLC lifted its holdings in shares of DexCom by 17.4% during the 2nd quarter. Paladin Wealth LLC now owns 9,338 shares of the medical device company’s stock valued at $629,000 after acquiring an additional 1,386 shares in the last quarter. Finally, Arista Wealth Management LLC purchased a new stake in DexCom during the 2nd quarter worth $337,000. Hedge funds and other institutional investors own 97.75% of the company’s stock.

About DexCom

DexCom, Inc is a medical device company that develops, manufactures and distributes continuous glucose monitoring (CGM) systems for people with diabetes. Its products are designed to provide near real-time glucose readings, trend information and alerts to help patients and clinicians manage insulin dosing and reduce hypoglycemia and hyperglycemia. The company’s offerings combine wearable glucose sensors, wireless transmitters and software applications that deliver data to smartphones, dedicated receivers and cloud-based platforms for remote monitoring.

Founded in 1999 and headquartered in San Diego, California, DexCom has focused its business on advancing CGM technology and expanding clinical use beyond traditional insulin-dependent populations.