DexCom (NASDAQ:DXCM) Rating Lowered to Hold at Wall Street Zen

DexCom (NASDAQ:DXCM) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

DXCM has been the topic of several other reports. Bank of America dropped their target price on DexCom from $100.00 to $80.00 and set a “buy” rating on the stock in a research note on Monday, May 18th. UBS Group set a $96.00 price target on DexCom and gave the company a “buy” rating in a research note on Tuesday, July 28th. Weiss Ratings raised DexCom from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Royal Bank Of Canada boosted their price target on DexCom from $85.00 to $90.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Finally, Citigroup restated a “buy” rating and set a $88.00 price objective (up from $84.00) on shares of DexCom in a report on Friday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.71.

DexCom Stock Performance

NASDAQ:DXCM opened at $90.82 on Friday. The stock has a market capitalization of $34.27 billion, a price-to-earnings ratio of 35.90, a PEG ratio of 1.53 and a beta of 1.41. 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 firm has a 50 day moving average of $79.21 and a 200 day moving average of $71.61.

DexCom (NASDAQ:DXCM) last released its quarterly 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. The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.29 billion. DexCom had a net margin of 20.12% and a return on equity of 35.94%. The business’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.48 earnings per share. As a group, sell-side analysts anticipate that DexCom will post 2.64 earnings per share for the current fiscal year.

Insider Activity at DexCom

In related news, EVP Michael Jon Brown sold 1,700 shares of DexCom stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $75.55, for a total transaction of $128,435.00. Following the completion of the sale, the executive vice president owned 106,353 shares of the company’s stock, valued at $8,034,969.15. The trade was a 1.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kevin R. Sayer sold 26,756 shares of the company’s stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $76.32, for a total value of $2,042,017.92. Following the completion of the sale, the insider owned 328,970 shares in the company, valued at approximately $25,106,990.40. This represents a 7.52% 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. Insiders have sold a total of 75,600 shares of company stock worth $5,673,342 in the last quarter. 0.28% of the stock is owned by insiders.

Institutional Trading of DexCom

Several large investors have recently made changes to their positions in DXCM. Corient Private Wealth LP raised its holdings in shares of DexCom by 3.1% during the second quarter. Corient Private Wealth LP now owns 130,738 shares of the medical device company’s stock worth $8,805,000 after purchasing an additional 3,986 shares during the last quarter. Brown Financial Advisors lifted its position in DexCom by 13.7% during the second quarter. Brown Financial Advisors now owns 17,222 shares of the medical device company’s stock valued at $1,160,000 after purchasing an additional 2,080 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in DexCom in the second quarter valued at $36,285,000. California State Teachers Retirement System boosted its holdings in DexCom by 6,567.7% in the second quarter. California State Teachers Retirement System now owns 39,176,552 shares of the medical device company’s stock valued at $2,638,541,000 after purchasing an additional 38,588,991 shares during the last quarter. Finally, HB Wealth Management LLC grew its position in DexCom by 16.5% during the 2nd quarter. HB Wealth Management LLC now owns 8,707 shares of the medical device company’s stock worth $586,000 after purchasing an additional 1,233 shares during the period. 97.75% of the stock is owned by hedge funds and other institutional investors.

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.