DexCom (NASDAQ:DXCM) Reaches New 52-Week High After Analyst Upgrade

DexCom, Inc. (NASDAQ:DXCM) reached a new 52-week high during trading on Monday after Royal Bank Of Canada raised their price target on the stock from $85.00 to $90.00. Royal Bank Of Canada currently has an outperform rating on the stock. DexCom traded as high as $84.82 and last traded at $84.82, with a volume of 7248 shares trading hands. The stock had previously closed at $83.45.

DXCM has been the topic of a number of other research reports. Citigroup reaffirmed a “buy” rating and set a $88.00 price objective (up from $84.00) on shares of DexCom in a research report on Friday. Mizuho boosted their target price on DexCom from $90.00 to $95.00 and gave the stock an “outperform” rating in a research note on Friday. Raymond James Financial restated a “strong-buy” rating and set a $94.00 price target on shares of DexCom in a report on Friday. Piper Sandler reaffirmed an “overweight” rating and issued a $95.00 price target (up from $88.00) on shares of DexCom in a research report on Friday. Finally, JPMorgan Chase & Co. lifted their price objective on DexCom from $65.00 to $82.00 and gave the company a “neutral” rating in a research note on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $88.12.

Insiders Place Their Bets

In other DexCom news, Director Bridgette P. Heller sold 1,012 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $60.01, for a total value of $60,730.12. Following the completion of the sale, the director owned 25,007 shares of the company’s stock, valued at approximately $1,500,670.07. This trade represents a 3.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Jon Brown sold 1,700 shares of the business’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $75.55, for a total transaction of $128,435.00. Following the sale, the executive vice president owned 106,353 shares in the company, valued at $8,034,969.15. The trade was a 1.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 98,506 shares of company stock valued at $7,205,258. Corporate insiders own 0.28% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Trust Co. of Vermont grew its holdings in shares of DexCom by 14.8% in the 4th quarter. Trust Co. of Vermont now owns 1,122 shares of the medical device company’s stock worth $74,000 after acquiring an additional 145 shares during the period. MassMutual Private Wealth & Trust FSB raised its holdings in DexCom by 15.4% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,147 shares of the medical device company’s stock worth $77,000 after purchasing an additional 153 shares during the last quarter. V Square Quantitative Management LLC boosted its position in DexCom by 1.8% during the first quarter. V Square Quantitative Management LLC now owns 9,618 shares of the medical device company’s stock worth $604,000 after purchasing an additional 172 shares in the last quarter. Essex Financial Services Inc. boosted its position in DexCom by 5.7% during the first quarter. Essex Financial Services Inc. now owns 3,256 shares of the medical device company’s stock worth $204,000 after purchasing an additional 175 shares in the last quarter. Finally, Keel Point LLC grew its holdings in DexCom by 3.1% in the fourth quarter. Keel Point LLC now owns 6,473 shares of the medical device company’s stock valued at $430,000 after purchasing an additional 193 shares during the last quarter. 97.75% of the stock is currently owned by institutional investors and hedge funds.

DexCom Price Performance

The company has a market cap of $32.01 billion, a price-to-earnings ratio of 33.53, a price-to-earnings-growth ratio of 1.36 and a beta of 1.41. The company has a fifty day simple moving average of $73.14 and a two-hundred day simple moving average of $69.19. The company has a quick ratio of 1.43, a current ratio of 1.73 and a debt-to-equity ratio of 0.47.

DexCom (NASDAQ:DXCM) last released its quarterly earnings results on Thursday, July 30th. The medical device company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.09. DexCom had a return on equity of 35.94% and a net margin of 20.12%.The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the previous year, the company posted $0.48 EPS. The business’s revenue was up 13.1% on a year-over-year basis. On average, equities research analysts anticipate that DexCom, Inc. will post 2.6 earnings per share for the current fiscal year.

About DexCom

DexCom, Inc is a medical device company that develops, manufactures and distributes continuous glucose monitoring (CGM) systems for people with diabetes. Its products are designed to provide near real-time glucose readings, trend information and alerts to help patients and clinicians manage insulin dosing and reduce hypoglycemia and hyperglycemia. The company’s offerings combine wearable glucose sensors, wireless transmitters and software applications that deliver data to smartphones, dedicated receivers and cloud-based platforms for remote monitoring.

Founded in 1999 and headquartered in San Diego, California, DexCom has focused its business on advancing CGM technology and expanding clinical use beyond traditional insulin-dependent populations.