DexCom (NASDAQ:DXCM) Shares Gap Up Following Analyst Upgrade

DexCom, Inc. (NASDAQ:DXCM)’s share price gapped up prior to trading on Friday after Canaccord Genuity Group raised their price target on the stock from $103.00 to $106.00. The stock had previously closed at $70.26, but opened at $75.26. Canaccord Genuity Group currently has a buy rating on the stock. DexCom shares last traded at $80.13, with a volume of 2,557,890 shares changing hands.

Other analysts have also recently issued research reports about the company. Robert W. Baird dropped their price objective on DexCom from $115.00 to $105.00 and set an “outperform” rating on the stock in a report on Friday. Mizuho assumed coverage on shares of DexCom in a research note on Thursday, April 10th. They issued an “outperform” rating and a $85.00 target price on the stock. Redburn Atlantic upgraded shares of DexCom from a “neutral” rating to a “buy” rating and boosted their price target for the company from $85.00 to $115.00 in a research report on Monday, February 3rd. Cfra Research raised shares of DexCom to a “hold” rating in a report on Friday, March 21st. Finally, Wells Fargo & Company restated an “overweight” rating on shares of DexCom in a research note on Saturday, March 8th. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $99.22.

Insider Activity

In other DexCom news, CEO Kevin R. Sayer sold 32,498 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $70.38, for a total transaction of $2,287,209.24. Following the sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jereme M. Sylvain sold 7,000 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $73.83, for a total value of $516,810.00. Following the completion of the transaction, the executive vice president now directly owns 135,482 shares of the company’s stock, valued at approximately $10,002,636.06. This trade represents a 4.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,926 shares of company stock valued at $4,734,384 in the last ninety days. Corporate insiders own 0.32% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. World Investment Advisors LLC purchased a new stake in DexCom in the 3rd quarter worth $2,351,000. Wilmington Savings Fund Society FSB bought a new stake in DexCom in the 3rd quarter worth approximately $381,000. Tidal Investments LLC boosted its position in shares of DexCom by 68.0% during the 3rd quarter. Tidal Investments LLC now owns 36,742 shares of the medical device company’s stock valued at $2,463,000 after acquiring an additional 14,872 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its holdings in shares of DexCom by 42.3% in the third quarter. B. Riley Wealth Advisors Inc. now owns 5,590 shares of the medical device company’s stock valued at $370,000 after purchasing an additional 1,662 shares in the last quarter. Finally, Versant Capital Management Inc bought a new stake in DexCom in the fourth quarter worth $25,000. 97.75% of the stock is currently owned by institutional investors.

DexCom Trading Up 16.2 %

The company has a quick ratio of 1.28, a current ratio of 1.47 and a debt-to-equity ratio of 0.59. The stock’s 50 day moving average is $71.46 and its 200-day moving average is $76.82. The company has a market cap of $32.00 billion, a PE ratio of 57.08, a P/E/G ratio of 2.30 and a beta of 1.50.

DexCom (NASDAQ:DXCM) last released 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 company’s revenue was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.32 EPS. As a group, sell-side analysts anticipate that DexCom, Inc. will post 2.03 EPS for the current year.

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.