DexCom (NASDAQ:DXCM) Upgraded to Strong-Buy at Benchmark

Benchmark upgraded shares of DexCom (NASDAQ:DXCM) to a strong-buy rating in a research note issued to investors on Monday,Zacks.com reports.

Other equities analysts also recently issued research reports about the company. Sanford C. Bernstein set a $77.00 target price on DexCom in a research report on Friday, May 1st. TD Cowen dropped their price target on DexCom from $84.00 to $75.00 and set a “buy” rating for the company in a report on Friday, May 1st. Weiss Ratings raised DexCom from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, March 4th. Mizuho set a $75.00 price target on DexCom in a report on Friday, May 1st. Finally, Barclays set a $67.00 price target on DexCom and gave the company an “underweight” rating in a report on Friday, May 1st. Three research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $83.22.

DexCom Price Performance

DexCom stock opened at $61.14 on Monday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.95 and a quick ratio of 1.64. The company has a market capitalization of $23.59 billion, a PE ratio of 26.13, a price-to-earnings-growth ratio of 1.02 and a beta of 1.40. DexCom has a one year low of $54.11 and a one year high of $89.98. The business has a 50 day simple moving average of $64.30 and a 200 day simple moving average of $66.09.

DexCom (NASDAQ:DXCM) last posted its earnings results on Thursday, April 30th. The medical device company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.47 by $0.09. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.17 billion. DexCom had a return on equity of 33.33% and a net margin of 19.31%.DexCom’s revenue was up 15.0% on a year-over-year basis. During the same quarter last year, the company earned $0.32 EPS. On average, sell-side analysts forecast that DexCom will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling

In other DexCom news, EVP Michael Jon Brown sold 1,700 shares of the stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $63.04, for a total value of $107,168.00. Following the transaction, the executive vice president directly owned 111,204 shares in the company, valued at approximately $7,010,300.16. This trade represents a 1.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in DexCom by 2.3% in the 3rd 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. Geode Capital Management LLC boosted its position in DexCom by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 11,006,183 shares of the medical device company’s stock valued at $727,842,000 after buying an additional 42,411 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in DexCom by 6.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,999,057 shares of the medical device company’s stock valued at $530,897,000 after buying an additional 516,526 shares during the last quarter. Norges Bank bought a new position in DexCom in the 4th quarter valued at $483,356,000. Finally, Invesco Ltd. boosted its position in DexCom by 14.8% in the 4th quarter. Invesco Ltd. now owns 5,315,367 shares of the medical device company’s stock valued at $352,781,000 after buying an additional 686,228 shares during the last quarter. 97.75% of the stock is currently owned by 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.