DexCom (NASDAQ:DXCM) Upgraded to “Buy” by StockNews.com

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

A number of other research analysts have also recently commented on DXCM. Stifel Nicolaus upped their target price on shares of DexCom from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. JPMorgan Chase & Co. cut shares of DexCom from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $145.00 to $75.00 in a research report on Friday, July 26th. Robert W. Baird upped 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. Oppenheimer dropped their price objective on DexCom from $150.00 to $115.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. Finally, Baird R W lowered DexCom from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 26th. Six analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $112.25.

DexCom Trading Down 1.5 %

Shares of NASDAQ DXCM traded down $1.04 during midday trading on Tuesday, reaching $68.66. 3,241,257 shares of the stock were exchanged, compared to its average volume of 3,804,817. DexCom has a twelve month low of $62.34 and a twelve month high of $142.00. The stock has a market capitalization of $27.30 billion, a P/E ratio of 44.30, a PEG ratio of 2.12 and a beta of 1.18. The company has a 50 day simple moving average of $76.37 and a 200 day simple moving average of $108.46. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.48 and a current ratio of 2.82.

DexCom (NASDAQ:DXCM) last posted its earnings results on Thursday, July 25th. The medical device company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.04. DexCom had a return on equity of 31.41% and a net margin of 16.95%. The company had revenue of $1 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter last year, the firm earned $0.34 earnings per share. The firm’s quarterly revenue was up 15.3% compared to the same quarter last year. As a group, equities analysts expect that DexCom will post 1.69 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Michael Jon Brown sold 659 shares of the business’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $114.29, for a total transaction of $75,317.11. Following the completion of the transaction, the executive vice president now owns 66,901 shares in the company, valued at $7,646,115.29. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, COO Jacob Steven Leach sold 746 shares of the company’s stock in a transaction 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 completion of the transaction, the chief operating officer now owns 264,915 shares in the company, valued at approximately $18,318,872.25. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Michael Jon Brown sold 659 shares of the company’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $114.29, for a total transaction of $75,317.11. Following the completion of the transaction, the executive vice president now owns 66,901 shares of the company’s stock, valued at approximately $7,646,115.29. The disclosure for this sale can be found here. Insiders sold 2,483 shares of company stock worth $201,708 over the last 90 days. 0.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Capital World Investors lifted its stake in shares of DexCom by 130.7% in 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 acquiring an additional 5,256,092 shares during the period. Capital Research Global Investors lifted its holdings in shares of DexCom by 21.4% in the 4th quarter. Capital Research Global Investors now owns 15,296,032 shares of the medical device company’s stock valued at $1,898,085,000 after buying an additional 2,695,296 shares during the period. Sands Capital Management LLC lifted its holdings in shares of DexCom by 10.2% in the 4th quarter. Sands Capital Management LLC now owns 15,058,806 shares of the medical device company’s stock valued at $1,868,647,000 after buying an additional 1,398,136 shares during the period. Congress Asset Management Co. MA boosted its stake in shares of DexCom by 2,076.3% in the fourth quarter. Congress Asset Management Co. MA now owns 1,126,382 shares of the medical device company’s stock valued at $139,773,000 after buying an additional 1,074,626 shares in the last quarter. Finally, Winslow Capital Management LLC grew its holdings in DexCom by 26.5% during the fourth quarter. Winslow Capital Management LLC now owns 2,347,459 shares of the medical device company’s stock worth $291,296,000 after acquiring an additional 491,942 shares during the period. Institutional investors and hedge funds own 97.75% of the company’s stock.

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.