DexCom (NASDAQ:DXCM) Stock Rating Raised to Strong-Buy at Barclays

Barclays upgraded shares of DexCom (NASDAQ:DXCM) to a strong-buy rating in a research report released on Wednesday morning,Zacks reports.

Other equities research analysts have also issued reports about the company. Citigroup reiterated a “buy” rating and issued a $88.00 price objective (up from $84.00) on shares of DexCom in a research report on Friday, July 31st. Robert W. Baird set a $105.00 price target on shares of DexCom in a report on Friday, July 31st. Weiss Ratings raised shares of DexCom from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday. BTIG Research restated a “buy” rating and issued a $90.00 price objective (up from $80.00) on shares of DexCom in a report on Friday, July 31st. Finally, Stifel Nicolaus set a $95.00 target price on shares of DexCom and gave the stock a “buy” rating in a research report on Friday, July 31st. Three analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $91.96.

DexCom Stock Up 1.1%

Shares of NASDAQ DXCM opened at $84.30 on Wednesday. The firm’s fifty day moving average is $87.33 and its 200 day moving average is $74.97. DexCom has a 52 week low of $54.11 and a 52 week high of $92.59. The company has a quick ratio of 1.43, a current ratio of 1.73 and a debt-to-equity ratio of 0.47. The company has a market cap of $31.81 billion, a price-to-earnings ratio of 33.32, a PEG ratio of 1.40 and a beta of 1.48.

DexCom (NASDAQ:DXCM) last announced its quarterly earnings results on Thursday, July 30th. The medical device company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.09. DexCom had a net margin of 20.12% and a return on equity of 35.94%. The business had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter in the prior year, the company posted $0.48 EPS. The firm’s revenue for the quarter was up 13.1% compared to the same quarter last year. On average, equities research analysts expect that DexCom will post 2.64 earnings per share for the current year.

Insider Transactions at DexCom

In other news, EVP Jereme M. Sylvain sold 3,638 shares of the firm’s stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $83.27, for a total transaction of $302,936.26. Following the completion of the transaction, the executive vice president directly owned 146,828 shares in the company, valued at $12,226,367.56. This trade represents a 2.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing 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, EVP Sadie Stern sold 2,565 shares of DexCom stock in a transaction dated Monday, September 28th. The stock was sold at an average price of $86.15, for a total value of $220,974.75. Following the completion of the transaction, the executive vice president directly owned 123,478 shares of the company’s stock, valued at approximately $10,637,629.70. This represents a 2.04% 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. In the last 90 days, insiders sold 49,313 shares of company stock valued at $3,945,875. 0.28% of the stock is currently owned by corporate insiders.

Institutional Trading of DexCom

A number of institutional investors and hedge funds have recently bought and sold shares of DXCM. Legal & General Group Plc bought a new position in shares of DexCom during the second quarter valued at $173,237,000. Deutsche Bank AG purchased a new stake in shares of DexCom during the second quarter valued at $164,035,000. Employees Provident Fund Board bought a new stake in DexCom in the 4th quarter worth about $145,352,000. J. Stern & Co. LLP increased its holdings in DexCom by 2,114.8% in the 4th quarter. J. Stern & Co. LLP now owns 1,601,973 shares of the medical device company’s stock worth $106,323,000 after buying an additional 1,529,641 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in DexCom by 15.6% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,261,876 shares of the medical device company’s stock worth $758,487,000 after buying an additional 1,515,702 shares during the last quarter. 97.75% of the stock is currently owned by institutional investors.

About DexCom

DexCom, Inc (NASDAQ: DXCM) develops and commercializes continuous glucose monitoring (CGM) systems for people with diabetes. Its technology uses a small wearable sensor to measure glucose levels continuously and transmit readings to a compatible receiver, smartphone or other connected device, helping users monitor glucose trends and make more informed treatment and lifestyle decisions.

The company’s product portfolio includes the Dexcom G7 and Dexcom G6 real-time CGM systems, as well as related software and digital health tools such as Dexcom Clarity for glucose data analysis and reporting.