DexCom’s (DXCM) “Buy” Rating Reiterated at TD Cowen

TD Cowen reiterated their buy rating on shares of DexCom (NASDAQ:DXCM) in a report issued on Friday,Benzinga reports. They currently have a $95.00 price target on the medical device company’s stock.

DXCM has been the subject of several other reports. Truist Financial set a $102.00 price target on shares of DexCom and gave the stock a “buy” rating in a research note on Friday. Stifel Nicolaus set a $95.00 price objective on shares of DexCom and gave the stock a “buy” rating in a research note on Friday, July 31st. UBS Group set a $96.00 price objective on shares of DexCom and gave the stock a “buy” rating in a report on Tuesday, July 28th. Wells Fargo & Company raised their target price on shares of DexCom from $85.00 to $90.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. Finally, Weiss Ratings upgraded shares of DexCom from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $89.08.

DexCom Stock Performance

DexCom stock opened at $89.35 on Friday. DexCom has a fifty-two week low of $54.11 and a fifty-two week high of $92.59. The stock’s 50 day simple moving average is $84.10 and its two-hundred day simple moving average is $73.28. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.43 and a current ratio of 1.73. The stock has a market cap of $33.72 billion, a price-to-earnings ratio of 35.32, a PEG ratio of 1.50 and a beta of 1.42.

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

Insider Activity at DexCom

In related news, EVP Michael Brown sold 1,700 shares of the stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $84.04, for a total transaction of $142,868.00. Following the sale, the executive vice president directly owned 99,885 shares of the company’s stock, valued at approximately $8,394,335.40. This represents a 1.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jereme M. Sylvain sold 3,638 shares of DexCom stock in a transaction dated 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 of the company’s stock, valued at $12,226,367.56. This trade represents a 2.42% decrease in their ownership of the stock. 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 sold a total of 73,504 shares of company stock worth $5,651,332 in the last ninety days. 0.28% of the stock is currently owned by company insiders.

Institutional Trading of DexCom

Several institutional investors have recently added to or reduced their stakes in DXCM. Reflection Asset Management purchased a new stake in shares of DexCom during the fourth quarter valued at $25,000. Ascentis Independent Advisors purchased a new position in DexCom in the 1st quarter worth about $25,000. MCF Advisors LLC purchased a new position in DexCom in the 4th quarter worth about $32,000. Wellington Grp LLC lifted its stake in DexCom by 778.7% during the 1st quarter. Wellington Grp LLC now owns 536 shares of the medical device company’s stock valued at $34,000 after acquiring an additional 475 shares during the period. Finally, Cassaday & Co Wealth Management LLC bought a new position in DexCom during the 1st quarter valued at about $44,000. 97.75% of the stock is currently owned by hedge funds and other institutional investors.

DexCom Company Profile

DexCom, Inc develops and commercializes continuous glucose monitoring (CGM) systems that measure glucose levels in real time. Its technology is designed to help people with diabetes monitor glucose trends and make more informed treatment and lifestyle decisions without relying solely on traditional fingerstick testing.

The company’s products include the Dexcom G7 and Dexcom G6 CGM systems, which use a small wearable sensor, transmitter or integrated sensor, and mobile applications to display glucose data.