Benchmark Upgrades DexCom (NASDAQ:DXCM) to “Strong-Buy”

DexCom (NASDAQ:DXCM) was upgraded by Benchmark to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

Other equities analysts have also recently issued reports about the stock. TD Cowen cut their target price on shares of DexCom from $84.00 to $75.00 and set a “buy” rating for the company in a research note on Friday, May 1st. Evercore upgraded DexCom from an “in-line” rating to an “outperform” rating and set a $90.00 target price on the stock in a research note on Tuesday, March 24th. Robert W. Baird set a $80.00 price objective on DexCom in a research note on Friday, May 1st. BTIG Research reissued a “buy” rating and set a $85.00 price objective on shares of DexCom in a report on Monday, March 9th. Finally, Mizuho set a $75.00 price target on shares of DexCom in a research report on Friday, May 1st. Three research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $83.22.

DexCom Stock Up 3.1%

Shares of DXCM opened at $61.14 on Monday. The business’s 50 day moving average is $64.30 and its 200 day moving average is $66.09. The company has a market capitalization of $23.59 billion, a PE ratio of 26.13, a price-to-earnings-growth ratio of 1.02 and a beta of 1.40. DexCom has a 12-month low of $54.11 and a 12-month high of $89.98. The company has a current ratio of 1.95, a quick ratio of 1.64 and a debt-to-equity ratio of 0.42.

DexCom (NASDAQ:DXCM) last posted its quarterly earnings results on Thursday, April 30th. The medical device company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.09. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.17 billion. DexCom had a return on equity of 33.33% and a net margin of 19.31%.The firm’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.32 EPS. Research analysts expect that DexCom will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling at DexCom

In other news, EVP Michael Jon Brown sold 1,700 shares of the stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $63.04, for a total value of $107,168.00. Following the completion of the sale, the executive vice president directly owned 111,204 shares in the company, valued at $7,010,300.16. This represents a 1.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.28% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On DexCom

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Reflection Asset Management acquired a new stake in shares of DexCom during the fourth quarter valued at about $25,000. Ascentis Independent Advisors purchased a new position in shares of DexCom during the 1st quarter worth approximately $25,000. CVA Family Office LLC increased its holdings in DexCom by 48.5% in the 4th quarter. CVA Family Office LLC now owns 450 shares of the medical device company’s stock valued at $30,000 after purchasing an additional 147 shares during the last quarter. MCF Advisors LLC acquired a new stake in DexCom in the 4th quarter valued at approximately $32,000. Finally, ORG Partners LLC raised its position in DexCom by 124.3% in the fourth quarter. ORG Partners LLC now owns 507 shares of the medical device company’s stock valued at $34,000 after purchasing an additional 281 shares during the period. Hedge funds and other institutional investors own 97.75% of the company’s stock.

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.