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

DexCom (NASDAQ:DXCM) had its price objective lifted by UBS Group from $102.00 to $107.00 in a research report released on Friday morning,Benzinga reports. The firm currently has a buy rating on the medical device company’s stock.

A number of other equities research analysts also recently commented on the stock. Weiss Ratings upgraded shares of DexCom from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, October 6th. Stifel Nicolaus set a $95.00 price objective on shares of DexCom and gave the company a “buy” rating in a research note on Friday, July 31st. Raymond James Financial reissued a “strong-buy” rating and set a $97.00 price objective on shares of DexCom in a research note on Friday. Benchmark raised their target price on shares of DexCom from $77.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Finally, Truist Financial set a $102.00 target price on shares of DexCom and gave the stock a “buy” rating in a research note on Friday, September 18th. Two research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $93.70.

DexCom Price Performance

DXCM opened at $82.29 on Friday. The company has a quick ratio of 1.40, a current ratio of 1.74 and a debt-to-equity ratio of 0.49. The firm has a market cap of $30.69 billion, a P/E ratio of 32.27, a PEG ratio of 1.37 and a beta of 1.45. DexCom has a 52 week low of $54.11 and a 52 week high of $92.59. The business’s fifty day simple moving average is $85.82 and its 200 day simple moving average is $74.65.

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

Insider Activity at DexCom

In other DexCom news, EVP Jereme Sylvain sold 3,638 shares of DexCom stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $83.27, for a total value of $302,936.26. Following the transaction, the executive vice president owned 146,828 shares in the company, valued at $12,226,367.56. This trade represents a 2.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 on Tuesday, September 15th. The shares were sold at an average price of $84.04, for a total transaction of $549,537.56. Following the sale, the director directly owned 29,293 shares of the company’s stock, valued at $2,461,783.72. This represents a 18.25% decrease in their ownership of the stock. 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 22,822 shares of company stock worth $1,920,193. 0.28% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Chicago Partners Investment Group LLC raised its stake in shares of DexCom by 3.9% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 10,817 shares of the medical device company’s stock valued at $843,000 after acquiring an additional 409 shares during the period. Covestor Ltd increased its holdings in DexCom by 79.6% in the third quarter. Covestor Ltd now owns 1,282 shares of the medical device company’s stock valued at $111,000 after buying an additional 568 shares during the last quarter. Caldwell Trust Co lifted its position in shares of DexCom by 1.8% in the 3rd quarter. Caldwell Trust Co now owns 13,732 shares of the medical device company’s stock worth $1,185,000 after buying an additional 241 shares during the last quarter. Rakuten Investment Management Inc. grew its position in DexCom by 8.7% in the 3rd quarter. Rakuten Investment Management Inc. now owns 101,020 shares of the medical device company’s stock worth $8,752,000 after purchasing an additional 8,108 shares during the last quarter. Finally, Factory Mutual Insurance Co. grew its position in DexCom by 4.8% in the 3rd quarter. Factory Mutual Insurance Co. now owns 563,383 shares of the medical device company’s stock valued at $48,614,000 after buying an additional 25,553 shares in the last quarter. 97.75% of the stock is owned by hedge funds and other institutional investors.

About DexCom

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.