William Blair Comments on DexCom, Inc.’s Q3 2024 Earnings (NASDAQ:DXCM)

DexCom, Inc. (NASDAQ:DXCM) – Analysts at William Blair cut their Q3 2024 earnings per share (EPS) estimates for DexCom in a note issued to investors on Friday, July 26th. William Blair analyst M. Kaczor now expects that the medical device company will post earnings per share of $0.41 for the quarter, down from their prior forecast of $0.50. The consensus estimate for DexCom’s current full-year earnings is $1.76 per share. William Blair also issued estimates for DexCom’s Q1 2025 earnings at $0.39 EPS, Q2 2025 earnings at $0.48 EPS and Q3 2025 earnings at $0.52 EPS.

DexCom (NASDAQ:DXCM) last released its quarterly earnings results on Thursday, July 25th. The medical device company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.39 by $0.04. The company had revenue of $1 billion during the quarter, compared to analyst estimates of $1.04 billion. DexCom had a return on equity of 31.41% and a net margin of 16.95%. The firm’s revenue was up 15.3% on a year-over-year basis. During the same quarter last year, the business posted $0.34 earnings per share.

Other analysts also recently issued research reports about the stock. Royal Bank of Canada decreased their price objective on shares of DexCom from $165.00 to $145.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. UBS Group cut their price objective on shares of DexCom from $163.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, July 26th. BTIG Research cut their price objective on shares of DexCom from $156.00 to $120.00 and set a “buy” rating on the stock in a report on Friday, July 26th. Wells Fargo & Company cut their price objective on shares of DexCom from $145.00 to $80.00 and set an “overweight” rating on the stock in a report on Friday, July 26th. Finally, JPMorgan Chase & Co. lowered shares of DexCom from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $145.00 to $75.00 in a report on Friday, July 26th. Seven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, DexCom has a consensus rating of “Moderate Buy” and an average price target of $111.50.

DexCom Trading Up 3.3 %

DXCM opened at $69.70 on Monday. The firm has a market cap of $27.93 billion, a P/E ratio of 44.97, a P/E/G ratio of 1.58 and a beta of 1.16. DexCom has a 12 month low of $62.34 and a 12 month high of $142.00. The company has a current ratio of 2.82, a quick ratio of 2.48 and a debt-to-equity ratio of 1.00. The stock has a 50-day moving average of $112.79 and a 200 day moving average of $122.94.

Insiders Place Their Bets

In other news, EVP Michael Jon Brown sold 659 shares of the business’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $114.29, for a total transaction of $75,317.11. Following the sale, the executive vice president now directly owns 66,901 shares of the company’s stock, valued at $7,646,115.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Michael Jon Brown sold 659 shares of the business’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $114.29, for a total transaction of $75,317.11. Following the sale, the executive vice president now directly owns 66,901 shares of the company’s stock, valued at $7,646,115.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Sadie Stern sold 427 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $115.05, for a total transaction of $49,126.35. Following the sale, the executive vice president now directly owns 75,877 shares in the company, valued at $8,729,648.85. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,483 shares of company stock valued at $401,450. 0.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Crewe Advisors LLC acquired a new position in DexCom during the first quarter valued at $29,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in DexCom during the second quarter valued at $25,000. DSM Capital Partners LLC acquired a new position in DexCom during the fourth quarter valued at $28,000. Riverview Trust Co acquired a new position in DexCom during the first quarter valued at $32,000. Finally, Valley National Advisers Inc. raised its position in shares of DexCom by 73.0% in the fourth quarter. Valley National Advisers Inc. now owns 244 shares of the medical device company’s stock worth $30,000 after acquiring an additional 103 shares during the period. 97.75% of the stock is currently owned by institutional investors and hedge funds.

DexCom Company Profile

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.