DexCom (NASDAQ:DXCM) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of DexCom (NASDAQ:DXCM) from a hold rating to a buy rating in a research note released on Sunday,Wall Street Zen reports.

Other equities analysts also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of DexCom in a research note on Tuesday, June 23rd. They set a “buy” rating and a $86.00 price objective for the company. TD Cowen reaffirmed a “buy” rating on shares of DexCom in a research report on Friday, July 31st. Mizuho increased their price objective on DexCom from $90.00 to $95.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Stifel Nicolaus set a $95.00 price objective on DexCom and gave the stock a “buy” rating in a research report on Friday, July 31st. Finally, Argus boosted their target price on DexCom from $86.00 to $96.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $88.71.

DexCom Stock Performance

Shares of DXCM stock opened at $84.53 on Friday. The company has a market capitalization of $31.90 billion, a P/E ratio of 33.41, a PEG ratio of 1.47 and a beta of 1.42. DexCom has a fifty-two week low of $54.11 and a fifty-two week high of $92.59. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.43 and a current ratio of 1.73. The stock has a 50 day moving average price of $81.95 and a two-hundred day moving average price of $72.57.

DexCom (NASDAQ:DXCM) last issued its 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 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 analysts’ expectations of $1.29 billion. During the same quarter last year, the business earned $0.48 earnings per share. The business’s revenue was up 13.1% on a year-over-year basis. Analysts expect that DexCom will post 2.64 earnings per share for the current year.

Insider Activity at DexCom

In other DexCom news, Director Mark G. Foletta sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The stock was 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 approximately $4,168,052.64. This represents a 3.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Brown sold 1,700 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $75.55, for a total value of $128,435.00. Following the completion of the transaction, the executive vice president directly owned 106,353 shares of the company’s stock, valued at $8,034,969.15. This represents a 1.57% 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. Over the last ninety days, insiders have sold 65,777 shares of company stock valued at $4,950,714. 0.28% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On DexCom

A number of institutional investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System grew its position in shares of DexCom by 6,567.7% in the 2nd 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 period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in DexCom by 15.6% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,261,876 shares of the medical device company’s stock valued at $758,487,000 after acquiring an additional 1,515,702 shares during the period. Geode Capital Management LLC boosted its stake in DexCom by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 11,006,183 shares of the medical device company’s stock worth $727,842,000 after acquiring an additional 42,411 shares in the last quarter. Norges Bank bought a new stake in DexCom during the fourth quarter worth about $483,356,000. Finally, Invesco Ltd. grew its holdings in DexCom by 14.8% in the fourth quarter. Invesco Ltd. now owns 5,315,367 shares of the medical device company’s stock worth $352,781,000 after purchasing an additional 686,228 shares during the period. Institutional investors own 97.75% of the company’s stock.

DexCom Company Profile

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.