DexCom (NASDAQ:DXCM) Upgraded at Barclays

Barclays upgraded shares of DexCom (NASDAQ:DXCM) to a strong-buy rating in a report published on Wednesday morning,Zacks reports.

DXCM has been the subject of a number of other reports. BTIG Research reiterated a “buy” rating and set a $90.00 price objective (up from $80.00) on shares of DexCom in a research note on Friday, July 31st. Royal Bank Of Canada restated an “outperform” rating and set a $105.00 target price (up from $90.00) on shares of DexCom in a research note on Thursday, October 1st. Wall Street Zen raised shares of DexCom from a “hold” rating to a “buy” rating in a report on Sunday, September 6th. Wells Fargo & Company upped their price target on shares of DexCom from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Finally, TD Cowen reissued a “buy” rating and issued a $95.00 price objective on shares of DexCom in a research note on Friday, September 18th. Three investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $91.96.

DexCom Price Performance

Shares of DexCom stock opened at $84.11 on Wednesday. DexCom has a one year low of $54.11 and a one year high of $92.59. The stock’s fifty day moving average is $87.54 and its 200 day moving average is $75.16. The stock has a market cap of $31.74 billion, a P/E ratio of 33.25, a P/E/G ratio of 1.41 and a beta of 1.48. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.43 and a current ratio of 1.73.

DexCom (NASDAQ:DXCM) last released its earnings results on Thursday, July 30th. The medical device company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.09. The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.29 billion. DexCom had a return on equity of 35.94% and a net margin of 20.12%. DexCom’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.48 earnings per share. Sell-side analysts anticipate that DexCom will post 2.64 earnings per share for the current year.

Insider Activity at DexCom

In other DexCom news, Director Mark G. Foletta sold 2,000 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $85.32, for a total transaction of $170,640.00. Following the completion of the sale, the director directly owned 48,852 shares of the company’s stock, valued at $4,168,052.64. This trade represents a 3.93% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Nicholas Augustinos sold 6,539 shares of the business’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $84.04, for a total transaction of $549,537.56. Following the completion of the transaction, the director directly owned 29,293 shares in the company, valued at $2,461,783.72. This trade represents a 18.25% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 49,313 shares of company stock worth $3,945,875 in the last three months. Corporate insiders own 0.28% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Reflection Asset Management purchased a new stake in shares of DexCom in the fourth quarter worth about $25,000. Ascentis Independent Advisors bought a new stake in DexCom in the 1st quarter worth approximately $25,000. Wellington Grp LLC increased its stake in DexCom by 778.7% in the 1st quarter. Wellington Grp LLC now owns 536 shares of the medical device company’s stock worth $34,000 after acquiring an additional 475 shares during the last quarter. Elevation Wealth Partners LLC raised its holdings in shares of DexCom by 61.0% during the 3rd quarter. Elevation Wealth Partners LLC now owns 401 shares of the medical device company’s stock worth $35,000 after acquiring an additional 152 shares in the last quarter. Finally, GK Wealth Management LLC purchased a new stake in shares of DexCom during the 3rd quarter worth approximately $35,000. Hedge funds and other institutional investors own 97.75% of the company’s stock.

DexCom Company Profile

DexCom, Inc (NASDAQ: DXCM) develops and commercializes continuous glucose monitoring (CGM) systems for people with diabetes. Its technology uses a small wearable sensor to measure glucose levels continuously and transmit readings to a compatible receiver, smartphone or other connected device, helping users monitor glucose trends and make more informed treatment and lifestyle decisions.

The company’s product portfolio includes the Dexcom G7 and Dexcom G6 real-time CGM systems, as well as related software and digital health tools such as Dexcom Clarity for glucose data analysis and reporting.