DexCom (NASDAQ:DXCM) Cut to Underweight at Barclays

Barclays cut shares of DexCom (NASDAQ:DXCM) from an equal weight rating to an underweight rating in a report issued on Monday morning, MarketBeat reports. They currently have $71.00 price objective on the medical device company’s stock, down from their prior price objective of $80.00.

Other research analysts have also recently issued reports about the company. Evercore ISI started coverage on DexCom in a report on Tuesday, November 25th. They issued an “in-line” rating and a $68.00 price target on the stock. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $86.00 price target (up from $84.00) on shares of DexCom in a research note on Friday, January 9th. Mizuho lifted their target price on DexCom from $75.00 to $78.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 17th. Truist Financial reaffirmed a “buy” rating and set a $82.00 target price (down from $94.00) on shares of DexCom in a research report on Monday, November 3rd. Finally, Wall Street Zen downgraded shares of DexCom from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 16th. Three equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $86.30.

DexCom Price Performance

NASDAQ DXCM opened at $69.70 on Monday. The business’s fifty day moving average is $64.52 and its 200 day moving average is $71.78. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.38 and a current ratio of 1.56. DexCom has a fifty-two week low of $54.11 and a fifty-two week high of $93.25. The company has a market capitalization of $27.18 billion, a PE ratio of 38.72, a price-to-earnings-growth ratio of 1.27 and a beta of 1.48.

DexCom (NASDAQ:DXCM) last announced its quarterly earnings data on Thursday, October 30th. The medical device company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.18 billion. DexCom had a return on equity of 30.65% and a net margin of 15.96%.The firm’s revenue was up 21.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.45 EPS. Sell-side analysts predict that DexCom will post 2.03 earnings per share for the current year.

Insider Buying and Selling

In other DexCom news, COO Jacob Steven Leach bought 18,200 shares of the company’s stock in a transaction dated Monday, November 10th. The shares were purchased at an average cost of $55.04 per share, for a total transaction of $1,001,728.00. Following the transaction, the chief operating officer directly owned 331,697 shares of the company’s stock, valued at approximately $18,256,602.88. The trade was a 5.81% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Richard Alexander Collins sold 2,906 shares of the company’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $59.05, for a total value of $171,599.30. Following the transaction, the director directly owned 35,088 shares of the company’s stock, valued at approximately $2,071,946.40. The trade was a 7.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 7,866 shares of company stock valued at $448,177 over the last ninety days. Company insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On DexCom

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in DexCom by 2.3% in the third quarter. Vanguard Group Inc. now owns 49,456,043 shares of the medical device company’s stock valued at $3,327,897,000 after buying an additional 1,133,638 shares during the last quarter. Jennison Associates LLC boosted its holdings in DexCom by 9.4% in the second quarter. Jennison Associates LLC now owns 11,517,546 shares of the medical device company’s stock valued at $1,005,367,000 after purchasing an additional 994,300 shares in the last quarter. Geode Capital Management LLC boosted its stake in DexCom by 3.4% in the second quarter. Geode Capital Management LLC now owns 10,766,356 shares of the medical device company’s stock valued at $936,100,000 after acquiring an additional 358,617 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in DexCom by 106.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 6,605,687 shares of the medical device company’s stock worth $576,610,000 after buying an additional 3,410,858 shares during the period. Finally, Norges Bank acquired a new position in shares of DexCom in the 2nd quarter valued at $453,279,000. 97.75% of the stock is currently owned by institutional investors and hedge funds.

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.