DexCom (NASDAQ:DXCM) Raised to Buy at StockNews.com

StockNews.com upgraded shares of DexCom (NASDAQ:DXCM) from a hold rating to a buy rating in a research report released on Wednesday morning.

Several other brokerages have also issued reports on DXCM. Citigroup lifted their price target on DexCom from $148.00 to $161.00 and gave the company a buy rating in a research note on Wednesday, April 3rd. Royal Bank of Canada started coverage on DexCom in a research report on Tuesday, March 12th. They set an outperform rating and a $165.00 price objective on the stock. Raymond James boosted their price objective on DexCom from $151.00 to $160.00 and gave the stock a strong-buy rating in a research report on Friday, April 26th. UBS Group boosted their price objective on DexCom from $153.00 to $163.00 and gave the stock a buy rating in a research report on Wednesday, April 10th. Finally, Canaccord Genuity Group boosted their price objective on DexCom from $144.00 to $145.00 and gave the stock a buy rating in a research report on Friday, April 26th. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $141.67.

DexCom Price Performance

DexCom stock opened at $128.37 on Wednesday. The stock’s fifty day moving average price is $132.11 and its two-hundred day moving average price is $119.96. DexCom has a one year low of $74.75 and a one year high of $142.00. The company has a debt-to-equity ratio of 1.08, a current ratio of 2.90 and a quick ratio of 2.53. The firm has a market cap of $51.05 billion, a PE ratio of 82.82, a price-to-earnings-growth ratio of 2.15 and a beta of 1.23.

DexCom (NASDAQ:DXCM) last issued its quarterly earnings results on Thursday, April 25th. The medical device company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.05. DexCom had a return on equity of 31.01% and a net margin of 16.82%. The company had revenue of $921.00 million for the quarter, compared to analyst estimates of $911.20 million. As a group, research analysts expect that DexCom will post 1.77 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Jereme M. Sylvain sold 3,363 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $116.73, for a total value of $392,562.99. Following the transaction, the chief financial officer now directly owns 71,142 shares of the company’s stock, valued at approximately $8,304,405.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Jereme M. Sylvain sold 3,363 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $116.73, for a total value of $392,562.99. Following the transaction, the chief financial officer now directly owns 71,142 shares of the company’s stock, valued at approximately $8,304,405.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael Jon Brown sold 629 shares of the business’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $126.25, for a total value of $79,411.25. Following the completion of the transaction, the executive vice president now directly owns 68,212 shares in the company, valued at $8,611,765. The disclosure for this sale can be found here. In the last three months, insiders have sold 190,004 shares of company stock valued at $25,610,270. 0.41% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Capital World Investors increased its holdings in DexCom by 130.7% during the 4th quarter. Capital World Investors now owns 9,278,685 shares of the medical device company’s stock worth $1,151,392,000 after purchasing an additional 5,256,092 shares in the last quarter. Norges Bank bought a new stake in DexCom during the 4th quarter worth approximately $540,178,000. Artisan Partners Limited Partnership increased its holdings in DexCom by 164.8% during the 4th quarter. Artisan Partners Limited Partnership now owns 5,900,308 shares of the medical device company’s stock worth $732,169,000 after purchasing an additional 3,672,471 shares in the last quarter. Capital Research Global Investors increased its holdings in DexCom by 21.4% during the 4th quarter. Capital Research Global Investors now owns 15,296,032 shares of the medical device company’s stock worth $1,898,085,000 after purchasing an additional 2,695,296 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new position in shares of DexCom in the fourth quarter valued at approximately $231,773,000. 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.