DexCom (NASDAQ:DXCM) Reaches New 12-Month High After Analyst Upgrade

DexCom, Inc. (NASDAQ:DXCM) hit a new 52-week high during mid-day trading on Monday after Royal Bank Of Canada raised their price target on the stock from $85.00 to $90.00. Royal Bank Of Canada currently has an outperform rating on the stock. DexCom traded as high as $84.82 and last traded at $84.82, with a volume of 7248 shares changing hands. The stock had previously closed at $83.45.

Other research analysts also recently issued reports about the company. Benchmark lifted their price objective on DexCom from $77.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday. Mizuho increased their target price on DexCom from $90.00 to $95.00 and gave the company an “outperform” rating in a report on Friday. UBS Group set a $96.00 price target on DexCom and gave the stock a “buy” rating in a research report on Tuesday, July 28th. Canaccord Genuity Group set a $82.00 price target on DexCom and gave the stock a “buy” rating in a report on Monday, May 18th. Finally, Bank of America reduced their price objective on DexCom from $100.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday, May 18th. Two 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 stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.12.

Insider Activity at DexCom

In related news, insider Kevin R. Sayer sold 26,759 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $72.00, for a total value of $1,926,648.00. Following the completion of the sale, the insider directly owned 382,482 shares in the company, valued at approximately $27,538,704. The trade was a 6.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Jon Brown sold 1,700 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $75.55, for a total transaction of $128,435.00. Following the transaction, the executive vice president directly owned 106,353 shares of the company’s stock, valued at $8,034,969.15. This trade represents a 1.57% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 98,506 shares of company stock worth $7,205,258. Corporate insiders own 0.28% of the company’s stock.

Institutional Trading of DexCom

Several large investors have recently bought and sold shares of the company. Reflection Asset Management purchased a new position in DexCom in the fourth quarter valued at about $25,000. Ascentis Independent Advisors purchased a new stake in DexCom during the 1st quarter worth approximately $25,000. MCF Advisors LLC acquired a new position in shares of DexCom in the 4th quarter valued at approximately $32,000. Wellington Grp LLC grew its position in shares of DexCom by 778.7% during the first quarter. Wellington Grp LLC now owns 536 shares of the medical device company’s stock worth $34,000 after buying an additional 475 shares in the last quarter. Finally, DV Equities LLC bought a new stake in shares of DexCom in the fourth quarter worth $36,000. Institutional investors and hedge funds own 97.75% of the company’s stock.

DexCom Trading Up 1.6%

The firm has a market cap of $32.01 billion, a P/E ratio of 33.53, a price-to-earnings-growth ratio of 1.36 and a beta of 1.41. The business’s 50 day moving average is $73.14 and its 200-day moving average is $69.19. The company has a quick ratio of 1.43, a current ratio of 1.73 and a debt-to-equity ratio of 0.47.

DexCom (NASDAQ:DXCM) last posted its quarterly earnings data on Thursday, July 30th. The medical device company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.09. The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.29 billion. DexCom had a net margin of 20.12% and a return on equity of 35.94%. The firm’s revenue was up 13.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.48 EPS. As a group, analysts forecast that DexCom, Inc. will post 2.6 earnings per share for the current fiscal 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.