DexCom (NASDAQ:DXCM) Trading 6.7% Higher After Analyst Upgrade

DexCom, Inc. (NASDAQ:DXCM) shares rose 6.7% during mid-day trading on Thursday after Mizuho raised their price target on the stock from $85.00 to $90.00. Mizuho currently has an outperform rating on the stock. DexCom traded as high as $78.00 and last traded at $77.63. 549,032 shares were traded during mid-day trading, a decline of 90% from the average session volume of 5,237,604 shares. The stock had previously closed at $72.73.

Other research analysts have also issued reports about the company. Citigroup reissued a “buy” rating and set a $84.00 price target (up from $79.00) on shares of DexCom in a research report on Thursday, May 28th. Canaccord Genuity Group set a $82.00 target price on DexCom and gave the company a “buy” rating in a research note on Monday, May 18th. Sanford C. Bernstein set a $77.00 target price on DexCom in a report on Friday, May 1st. Barclays reissued an “underweight” rating and issued a $64.00 price target (down from $67.00) on shares of DexCom in a research report on Monday, May 18th. Finally, Wall Street Zen cut shares of DexCom from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 10th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, DexCom presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.08.

Insider Activity

In other news, EVP Jon Coleman sold 4,912 shares of the stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $73.00, for a total transaction of $358,576.00. Following the transaction, the executive vice president owned 100,361 shares in the company, valued at $7,326,353. This represents a 4.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark G. Foletta sold 4,000 shares of the firm’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $74.13, for a total transaction of $296,520.00. Following the transaction, the director owned 52,852 shares in the company, valued at $3,917,918.76. This represents a 7.04% 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. In the last 90 days, insiders have sold 71,750 shares of company stock valued at $5,163,241. 0.28% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On DexCom

Institutional investors have recently bought and sold shares of the stock. Reflection Asset Management acquired a new position in shares of DexCom during the 4th quarter valued at about $25,000. Ascentis Independent Advisors acquired a new stake in DexCom in the 1st quarter worth approximately $25,000. CVA Family Office LLC lifted its holdings in DexCom by 48.5% in the 4th quarter. CVA Family Office LLC now owns 450 shares of the medical device company’s stock worth $30,000 after purchasing an additional 147 shares during the last quarter. MCF Advisors LLC bought a new stake in DexCom during the fourth quarter worth approximately $32,000. Finally, ORG Partners LLC boosted its position in DexCom by 124.3% during the fourth quarter. ORG Partners LLC now owns 507 shares of the medical device company’s stock worth $34,000 after purchasing an additional 281 shares during the period. 97.75% of the stock is currently owned by institutional investors.

DexCom Stock Performance

The company has a market cap of $29.98 billion, a price-to-earnings ratio of 33.20, a P/E/G ratio of 1.22 and a beta of 1.45. 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 firm has a fifty day simple moving average of $70.49 and a 200 day simple moving average of $68.60.

DexCom (NASDAQ:DXCM) last issued its quarterly earnings data on Thursday, April 30th. The medical device company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.09. DexCom had a net margin of 19.31% and a return on equity of 33.33%. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the previous year, the company earned $0.32 earnings per share. DexCom’s revenue for the quarter was up 15.0% on a year-over-year basis. On average, sell-side analysts expect that DexCom, Inc. will post 2.57 earnings per share for the current fiscal year.

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.