DexCom (NASDAQ:DXCM) Lowered to “Buy” Rating by Wall Street Zen

Wall Street Zen downgraded shares of DexCom (NASDAQ:DXCM) from a strong-buy rating to a buy rating in a research note published on Sunday.

A number of other equities analysts have also recently weighed in on DXCM. TD Cowen lowered their price target on shares of DexCom from $84.00 to $75.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Sanford C. Bernstein set a $77.00 price objective on shares of DexCom in a report on Friday, May 1st. Morgan Stanley restated an “overweight” rating on shares of DexCom in a research report on Monday, January 12th. Weiss Ratings upgraded shares of DexCom from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, March 4th. Finally, Raymond James Financial set a $81.00 price target on DexCom in a research note on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.50.

DexCom Stock Performance

Shares of DXCM stock opened at $60.61 on Friday. The company has a market cap of $23.39 billion, a price-to-earnings ratio of 25.90, a price-to-earnings-growth ratio of 1.04 and a beta of 1.40. The stock has a 50 day simple moving average of $65.10 and a 200-day simple moving average of $66.29. DexCom has a 12-month low of $54.11 and a 12-month high of $89.98. The company has a current ratio of 1.95, a quick ratio of 1.64 and a debt-to-equity ratio of 0.42.

DexCom (NASDAQ:DXCM) last posted its quarterly earnings results on Thursday, April 30th. The medical device company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.09. DexCom had a return on equity of 33.33% and a net margin of 19.31%.The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the previous year, the business earned $0.32 earnings per share. The company’s revenue for the quarter was up 15.0% compared to the same quarter last year. On average, equities analysts forecast that DexCom will post 2.56 EPS for the current year.

Insider Transactions at DexCom

In other DexCom news, EVP Michael Jon Brown sold 1,700 shares of the company’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $63.04, for a total value of $107,168.00. Following the sale, the executive vice president owned 111,204 shares of the company’s stock, valued at $7,010,300.16. This represents a 1.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.28% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of DXCM. Gradient Investments LLC boosted its stake in shares of DexCom by 13.8% during the 4th quarter. Gradient Investments LLC now owns 332,006 shares of the medical device company’s stock worth $22,035,000 after purchasing an additional 40,343 shares during the last quarter. Nordea Investment Management AB raised its position in shares of DexCom by 118.6% in the fourth quarter. Nordea Investment Management AB now owns 254,315 shares of the medical device company’s stock valued at $16,988,000 after buying an additional 137,986 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of DexCom by 11.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 212,045 shares of the medical device company’s stock valued at $14,269,000 after buying an additional 21,352 shares during the period. NEOS Investment Management LLC lifted its stake in shares of DexCom by 58.7% during the third quarter. NEOS Investment Management LLC now owns 175,982 shares of the medical device company’s stock valued at $11,842,000 after buying an additional 65,066 shares during the period. Finally, Peterson Wealth Services boosted its position in DexCom by 423.6% during the third quarter. Peterson Wealth Services now owns 28,937 shares of the medical device company’s stock worth $1,947,000 after acquiring an additional 23,410 shares during the last quarter. 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.