UBS Group Forecasts Strong Price Appreciation for DexCom (NASDAQ:DXCM) Stock

DexCom (NASDAQ:DXCM) had its price objective hoisted by research analysts at UBS Group from $102.00 to $107.00 in a report issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the medical device company’s stock. UBS Group‘s price objective would suggest a potential upside of 30.03% from the company’s current price.

A number of other analysts have also recently weighed in on the stock. Weiss Ratings raised shares of DexCom from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, October 6th. Wells Fargo & Company upped their target price on shares of DexCom from $85.00 to $90.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Piper Sandler reaffirmed an “overweight” rating and issued a $95.00 target price (up from $88.00) on shares of DexCom in a research report on Friday, July 31st. Mizuho set a $100.00 price target on shares of DexCom in a research note on Tuesday, October 13th. Finally, Barclays boosted their price target on shares of DexCom from $115.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday. Two investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, DexCom presently has a consensus rating of “Buy” and a consensus target price of $93.70.

DexCom Price Performance

DXCM stock opened at $82.29 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.74 and a quick ratio of 1.40. The firm has a market capitalization of $30.69 billion, a P/E ratio of 32.27, a P/E/G ratio of 1.37 and a beta of 1.45. The business’s 50-day moving average is $85.82 and its two-hundred day moving average is $74.65. DexCom has a 1 year low of $54.11 and a 1 year high of $92.59.

DexCom (NASDAQ:DXCM) last released its quarterly earnings data on Thursday, October 29th. The medical device company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.05. The business had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.33 billion. DexCom had a net margin of 19.42% and a return on equity of 37.77%. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.61 EPS. Analysts anticipate that DexCom will post 2.67 earnings per share for the current fiscal year.

Insider Buying and Selling at DexCom

In related news, EVP Sadie Stern sold 2,565 shares of the firm’s stock in a transaction dated Tuesday, October 27th. The stock was sold at an average price of $78.62, for a total transaction of $201,660.30. Following the transaction, the executive vice president owned 120,913 shares of the company’s stock, valued at $9,506,180.06. This trade represents a 2.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Nicholas Augustinos sold 6,539 shares of the business’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $84.04, for a total value of $549,537.56. Following the completion of the transaction, the director directly owned 29,293 shares in the company, valued at approximately $2,461,783.72. The trade was a 18.25% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 22,822 shares of company stock worth $1,920,193 over the last three months. 0.28% of the stock is currently owned by corporate insiders.

Institutional Trading of DexCom

A number of institutional investors have recently added to or reduced their stakes in DXCM. Ascentis Independent Advisors purchased a new position in DexCom in the first quarter valued at about $25,000. Latitude Advisors LLC acquired a new position in DexCom during the third quarter worth $32,000. Hilton Head Capital Partners LLC boosted its position in DexCom by 242.3% during the third quarter. Hilton Head Capital Partners LLC now owns 380 shares of the medical device company’s stock worth $33,000 after purchasing an additional 269 shares in the last quarter. Wellington Grp LLC boosted its position in DexCom by 778.7% during the first quarter. Wellington Grp LLC now owns 536 shares of the medical device company’s stock worth $34,000 after purchasing an additional 475 shares in the last quarter. Finally, Elevation Wealth Partners LLC grew its holdings in DexCom by 61.0% in the third quarter. Elevation Wealth Partners LLC now owns 401 shares of the medical device company’s stock valued at $35,000 after purchasing an additional 152 shares during the last quarter. Hedge funds and other institutional investors own 97.75% of the company’s stock.

DexCom Company Profile

DexCom, Inc develops and commercializes continuous glucose monitoring (CGM) systems for people with diabetes. Its devices use a small wearable sensor to measure glucose levels in real time and transmit readings to compatible smartphones, receivers, smartwatches, and other connected devices, helping users monitor glucose trends and make informed decisions about their health.

The company’s product portfolio includes the Dexcom G7 and Dexcom G6 CGM systems, as well as Dexcom ONE and Dexcom ONE+ products offered in select markets.