DexCom (NASDAQ:DXCM) Upgraded by Wall Street Zen to Buy Rating

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

Several other analysts also recently commented on the stock. Bank of America decreased their price objective on shares of DexCom from $100.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday, May 18th. Barclays reiterated an “underweight” rating and issued a $64.00 price target (down from $67.00) on shares of DexCom in a research note on Monday, May 18th. Robert W. Baird set a $105.00 price target on DexCom in a report on Friday, July 31st. Stifel Nicolaus set a $95.00 price objective on DexCom and gave the company a “buy” rating in a research report on Friday, July 31st. Finally, Raymond James Financial restated a “strong-buy” rating and issued a $94.00 price objective on shares of DexCom in a research report on Friday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $88.71.

DexCom Stock Performance

Shares of NASDAQ:DXCM opened at $87.90 on Friday. The stock has a 50 day moving average of $81.24 and a 200 day moving average of $72.36. The company has a market cap of $33.17 billion, a PE ratio of 34.74, a price-to-earnings-growth ratio of 1.47 and a beta of 1.42. DexCom has a 12-month low of $54.11 and a 12-month high of $92.59. The company has a current ratio of 1.73, a quick ratio of 1.43 and a debt-to-equity ratio of 0.47.

DexCom (NASDAQ:DXCM) last released its earnings results on Thursday, July 30th. The medical device company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.09. DexCom had a net margin of 20.12% and a return on equity of 35.94%. The company 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 EPS. The firm’s revenue was up 13.1% compared to the same quarter last year. As a group, equities research analysts expect that DexCom will post 2.64 EPS for the current year.

Insider Activity at DexCom

In other DexCom news, EVP Michael Brown sold 1,700 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $75.55, for a total value of $128,435.00. Following the sale, the executive vice president owned 106,353 shares in the company, valued at $8,034,969.15. The trade was a 1.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark G. Foletta sold 4,000 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $74.13, for a total transaction of $296,520.00. Following the transaction, the director directly owned 52,852 shares of the company’s stock, valued at $3,917,918.76. This trade represents a 7.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 65,777 shares of company stock worth $4,950,714 in the last three months. Insiders own 0.28% of the company’s stock.

Institutional Investors Weigh In On DexCom

A number of hedge funds have recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB raised its holdings in shares of DexCom by 15.4% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,147 shares of the medical device company’s stock worth $77,000 after purchasing an additional 153 shares during the period. V Square Quantitative Management LLC boosted its holdings in shares of DexCom by 1.8% in the 1st quarter. V Square Quantitative Management LLC now owns 9,618 shares of the medical device company’s stock valued at $604,000 after buying an additional 172 shares during the period. Essex Financial Services Inc. boosted its holdings in shares of DexCom by 5.7% in the 1st quarter. Essex Financial Services Inc. now owns 3,256 shares of the medical device company’s stock valued at $204,000 after buying an additional 175 shares during the period. Keel Point LLC grew its position in shares of DexCom by 3.1% during the 4th quarter. Keel Point LLC now owns 6,473 shares of the medical device company’s stock valued at $430,000 after buying an additional 193 shares during the last quarter. Finally, Integrated Wealth Concepts LLC grew its position in shares of DexCom by 6.3% during the 1st quarter. Integrated Wealth Concepts LLC now owns 3,329 shares of the medical device company’s stock valued at $227,000 after buying an additional 196 shares during the last quarter. 97.75% of the stock is currently owned by hedge funds and other institutional investors.

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.