DexCom (NASDAQ:DXCM) Downgraded to Hold Rating by Wall Street Zen

Wall Street Zen downgraded shares of DexCom (NASDAQ:DXCM) from a buy rating to a hold rating in a research note issued to investors on Saturday.

Other equities analysts have also issued research reports about the stock. Truist Financial set a $93.00 target price on shares of DexCom and gave the company a “buy” rating in a report on Friday, July 31st. Royal Bank Of Canada increased their price target on DexCom from $85.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Piper Sandler reissued an “overweight” rating and issued a $95.00 price objective (up from $88.00) on shares of DexCom in a research report on Friday, July 31st. Weiss Ratings raised DexCom from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Finally, Canaccord Genuity Group set a $90.00 target price on DexCom and gave the company a “buy” rating in a research report on Monday, August 3rd. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, DexCom has an average rating of “Moderate Buy” and an average price target of $88.71.

DexCom Stock Up 1.7%

DexCom stock opened at $90.82 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.43 and a current ratio of 1.73. DexCom has a 52-week low of $54.11 and a 52-week high of $92.59. The firm has a 50 day moving average price of $79.21 and a two-hundred day moving average price of $71.60. The firm has a market cap of $34.27 billion, a price-to-earnings ratio of 35.90, a PEG ratio of 1.53 and a beta of 1.41.

DexCom (NASDAQ:DXCM) last issued its quarterly earnings results on Thursday, July 30th. The medical device company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.09. DexCom had a net margin of 20.12% and a return on equity of 35.94%. The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the previous year, the company earned $0.48 EPS. The company’s revenue for the quarter was up 13.1% on a year-over-year basis. Equities analysts predict that DexCom will post 2.64 EPS for the current year.

Insiders Place Their Bets

In other DexCom news, EVP Michael Jon Brown sold 1,700 shares of DexCom stock in a transaction on Monday, June 15th. The shares were sold at an average price of $75.55, for a total value of $128,435.00. Following the completion of the sale, the executive vice president directly owned 106,353 shares of the company’s stock, valued at approximately $8,034,969.15. The trade was a 1.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark G. Foletta sold 2,000 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $85.32, for a total transaction of $170,640.00. Following the transaction, the director owned 48,852 shares in the company, valued at $4,168,052.64. This represents a 3.93% 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. In the last three months, insiders sold 75,600 shares of company stock valued at $5,673,342. 0.28% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Corient Private Wealth LP boosted its holdings in DexCom by 3.1% in the second quarter. Corient Private Wealth LP now owns 130,738 shares of the medical device company’s stock worth $8,805,000 after acquiring an additional 3,986 shares in the last quarter. Brown Financial Advisors increased its stake in DexCom by 13.7% during the 2nd quarter. Brown Financial Advisors now owns 17,222 shares of the medical device company’s stock valued at $1,160,000 after purchasing an additional 2,080 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in DexCom during the 2nd quarter valued at $36,285,000. California State Teachers Retirement System raised its holdings in DexCom by 6,567.7% during the second quarter. California State Teachers Retirement System now owns 39,176,552 shares of the medical device company’s stock worth $2,638,541,000 after buying an additional 38,588,991 shares during the last quarter. Finally, HB Wealth Management LLC raised its holdings in DexCom by 16.5% during the second quarter. HB Wealth Management LLC now owns 8,707 shares of the medical device company’s stock worth $586,000 after buying an additional 1,233 shares during the last quarter. 97.75% of the stock is owned by institutional investors and hedge funds.

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.