StockNews.com Upgrades DexCom (NASDAQ:DXCM) to Buy

DexCom (NASDAQ:DXCM) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday.

Other research analysts also recently issued research reports about the company. Robert W. Baird lifted their price target on DexCom from $80.00 to $82.00 and gave the stock a “neutral” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. downgraded shares of DexCom from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $145.00 to $75.00 in a report on Friday, July 26th. UBS Group dropped their price objective on shares of DexCom from $163.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, July 26th. Oppenheimer cut their price objective on DexCom from $150.00 to $115.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. Finally, Royal Bank of Canada lowered their target price on DexCom from $165.00 to $145.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. Six analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $112.25.

DexCom Price Performance

DexCom stock traded down $1.04 during mid-day trading on Tuesday, reaching $68.66. The company had a trading volume of 3,241,257 shares, compared to its average volume of 3,804,817. The stock’s 50-day simple moving average is $76.37 and its 200-day simple moving average is $108.46. DexCom has a 1 year low of $62.34 and a 1 year high of $142.00. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.82 and a quick ratio of 2.48. The company has a market capitalization of $27.30 billion, a P/E ratio of 44.30, a P/E/G ratio of 2.12 and a beta of 1.18.

DexCom (NASDAQ:DXCM) last released its quarterly earnings data on Thursday, July 25th. The medical device company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.04. The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $1.04 billion. DexCom had a return on equity of 31.41% and a net margin of 16.95%. DexCom’s quarterly revenue was up 15.3% on a year-over-year basis. During the same period last year, the business posted $0.34 EPS. On average, equities analysts predict that DexCom will post 1.69 EPS for the current year.

Insiders Place Their Bets

In related news, COO Jacob Steven Leach sold 746 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $69.15, for a total value of $51,585.90. Following the sale, the chief operating officer now directly owns 264,915 shares of the company’s stock, valued at $18,318,872.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Sadie Stern sold 426 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $69.15, for a total value of $29,457.90. Following the transaction, the executive vice president now directly owns 75,451 shares in the company, valued at approximately $5,217,436.65. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Jacob Steven Leach sold 746 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $69.15, for a total value of $51,585.90. Following the sale, the chief operating officer now owns 264,915 shares of the company’s stock, valued at approximately $18,318,872.25. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,483 shares of company stock valued at $201,708. Insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Team Hewins LLC lifted its stake in shares of DexCom by 3.4% during the first quarter. Team Hewins LLC now owns 2,555 shares of the medical device company’s stock worth $354,000 after purchasing an additional 83 shares in the last quarter. Bleakley Financial Group LLC raised its position in shares of DexCom by 1.3% in the 1st quarter. Bleakley Financial Group LLC now owns 6,856 shares of the medical device company’s stock valued at $951,000 after purchasing an additional 87 shares in the last quarter. Capital Insight Partners LLC boosted its stake in shares of DexCom by 2.5% during the 2nd quarter. Capital Insight Partners LLC now owns 3,690 shares of the medical device company’s stock valued at $418,000 after buying an additional 90 shares during the last quarter. Gulf International Bank UK Ltd grew its position in shares of DexCom by 0.3% during the first quarter. Gulf International Bank UK Ltd now owns 32,075 shares of the medical device company’s stock worth $4,448,000 after buying an additional 93 shares in the last quarter. Finally, Harbor Investment Advisory LLC increased its stake in shares of DexCom by 13.1% in the first quarter. Harbor Investment Advisory LLC now owns 864 shares of the medical device company’s stock worth $120,000 after buying an additional 100 shares during the last quarter. 97.75% of the stock is owned by institutional investors and hedge funds.

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.