Research Analysts Set Expectations for DexCom, Inc.’s Q2 2024 Earnings (NASDAQ:DXCM)

DexCom, Inc. (NASDAQ:DXCM) – Equities research analysts at Leerink Partnrs cut their Q2 2024 earnings per share estimates for shares of DexCom in a research report issued to clients and investors on Thursday, April 25th. Leerink Partnrs analyst M. Kratky now anticipates that the medical device company will post earnings of $0.45 per share for the quarter, down from their previous forecast of $0.47. The consensus estimate for DexCom’s current full-year earnings is $1.78 per share. Leerink Partnrs also issued estimates for DexCom’s Q2 2025 earnings at $0.55 EPS, Q4 2025 earnings at $0.73 EPS, FY2025 earnings at $2.24 EPS and FY2028 earnings at $3.74 EPS.

DexCom (NASDAQ:DXCM) last released its earnings results on Thursday, April 25th. The medical device company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.05. The company had revenue of $921.00 million during the quarter, compared to the consensus estimate of $911.20 million. DexCom had a return on equity of 31.01% and a net margin of 16.82%.

Other equities analysts have also recently issued research reports about the company. Royal Bank of Canada initiated coverage on DexCom in a research note on Tuesday, March 12th. They issued an “outperform” rating and a $165.00 price objective for the company. Raymond James lifted their price objective on DexCom from $151.00 to $160.00 and gave the company a “strong-buy” rating in a research note on Friday, April 26th. Canaccord Genuity Group lifted their price objective on DexCom from $144.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, April 26th. UBS Group lifted their price objective on DexCom from $153.00 to $163.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Finally, StockNews.com upgraded DexCom from a “hold” rating to a “buy” rating in a research note on Wednesday. Two investment 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $141.67.

DexCom Stock Performance

NASDAQ DXCM opened at $127.39 on Monday. The company has a market cap of $50.66 billion, a P/E ratio of 82.19, a P/E/G ratio of 2.11 and a beta of 1.20. 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 stock has a 50-day moving average of $131.49 and a two-hundred day moving average of $119.53. DexCom has a 1-year low of $74.75 and a 1-year high of $142.00.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. DSM Capital Partners LLC acquired a new position in DexCom during the fourth quarter worth $28,000. Riverview Trust Co acquired a new stake in DexCom in the first quarter valued at $32,000. Valley National Advisers Inc. grew its holdings in DexCom by 73.0% in the fourth quarter. Valley National Advisers Inc. now owns 244 shares of the medical device company’s stock valued at $30,000 after purchasing an additional 103 shares during the last quarter. MV Capital Management Inc. grew its holdings in DexCom by 99.3% in the fourth quarter. MV Capital Management Inc. now owns 277 shares of the medical device company’s stock valued at $34,000 after purchasing an additional 138 shares during the last quarter. Finally, Smithfield Trust Co grew its holdings in DexCom by 103.1% in the fourth quarter. Smithfield Trust Co now owns 325 shares of the medical device company’s stock valued at $40,000 after purchasing an additional 165 shares during the last quarter. Institutional investors and hedge funds own 97.75% of the company’s stock.

Insider Buying and Selling

In other DexCom news, EVP Matthew Vincent Dolan sold 1,990 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $137.81, for a total value of $274,241.90. Following the completion of the sale, the executive vice president now owns 42,377 shares in the company, valued at $5,839,974.37. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, CEO Kevin R. Sayer sold 81,007 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $133.36, for a total value of $10,803,093.52. Following the transaction, the chief executive officer now owns 333,526 shares of the company’s stock, valued at $44,479,027.36. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Matthew Vincent Dolan sold 1,990 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $137.81, for a total value of $274,241.90. Following the completion of the transaction, the executive vice president now directly owns 42,377 shares in the company, valued at approximately $5,839,974.37. The disclosure for this sale can be found here. Insiders sold a total of 189,375 shares of company stock worth $25,530,859 over the last 90 days. 0.41% of the stock is owned by insiders.

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.