DexCom (NASDAQ:DXCM) Shares Up 6.7% After Analyst Upgrade

DexCom, Inc. (NASDAQ:DXCM)’s share price traded up 6.7% on Thursday after Mizuho raised their price target on the stock from $85.00 to $90.00. Mizuho currently has an outperform rating on the stock. DexCom traded as high as $78.00 and last traded at $77.63. 549,032 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 5,237,604 shares. The stock had previously closed at $72.73.

Several other analysts have also weighed in on DXCM. Benchmark reiterated a “buy” rating on shares of DexCom in a research report on Tuesday, June 23rd. Barclays restated an “underweight” rating and issued a $64.00 target price (down from $67.00) on shares of DexCom in a research note on Monday, May 18th. Wall Street Zen lowered shares of DexCom from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 10th. Sanford C. Bernstein set a $77.00 price objective on DexCom in a report on Friday, May 1st. Finally, Stifel Nicolaus set a $90.00 price target on DexCom and gave the company a “buy” rating in a research note on Friday, June 5th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $85.08.

Insider Activity at DexCom

In other news, EVP Jon Coleman sold 4,912 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $73.00, for a total transaction of $358,576.00. Following the completion of the transaction, the executive vice president directly owned 100,361 shares of the company’s stock, valued at $7,326,353. This represents a 4.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bridgette P. Heller sold 1,012 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $60.01, for a total value of $60,730.12. Following the transaction, the director directly owned 25,007 shares of the company’s stock, valued at approximately $1,500,670.07. This trade represents a 3.89% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 71,750 shares of company stock valued at $5,163,241 over the last ninety days. Company insiders own 0.28% of the company’s stock.

Hedge Funds Weigh In On DexCom

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

DexCom Stock Performance

The stock’s fifty day moving average price is $70.49 and its two-hundred day moving average price is $68.60. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.64 and a current ratio of 1.95. The company has a market cap of $29.98 billion, a P/E ratio of 33.20, a P/E/G ratio of 1.22 and a beta of 1.45.

DexCom (NASDAQ:DXCM) last issued its quarterly earnings results on Thursday, April 30th. The medical device company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.09. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.17 billion. DexCom had a return on equity of 33.33% and a net margin of 19.31%.The company’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.32 EPS. As a group, equities analysts predict that DexCom, Inc. will post 2.57 earnings per share for the current year.

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.