DexCom (NASDAQ:DXCM) Stock Rating Upgraded by Benchmark

DexCom (NASDAQ:DXCM) was upgraded by analysts at Benchmark to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

Several other research firms have also commented on DXCM. Raymond James Financial set a $81.00 target price on DexCom in a report on Friday, May 1st. Weiss Ratings upgraded shares of DexCom from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, March 4th. Evercore upgraded shares of DexCom from an “in-line” rating to an “outperform” rating and set a $90.00 price target for the company in a research report on Tuesday, March 24th. Piper Sandler reiterated an “overweight” rating on shares of DexCom in a report on Thursday, February 5th. Finally, Wall Street Zen downgraded shares of DexCom from a “strong-buy” rating to a “buy” rating in a report on Sunday. Three analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have issued 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 a consensus price target of $83.22.

DexCom Price Performance

Shares of DXCM opened at $61.14 on Monday. The firm 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. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.95 and a quick ratio of 1.64. DexCom has a 1-year low of $54.11 and a 1-year high of $89.98. The company’s fifty day moving average price is $64.30 and its 200-day moving average price is $66.09.

DexCom (NASDAQ:DXCM) last announced its quarterly earnings data 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. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.17 billion. DexCom had a net margin of 19.31% and a return on equity of 33.33%. The business’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.32 earnings per share. On average, equities research analysts predict that DexCom will post 2.56 EPS for the current year.

Insider Buying and Selling at DexCom

In other news, EVP Michael Jon Brown sold 1,700 shares of the firm’s stock in a transaction on 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 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.28% of the company’s stock.

Institutional Investors Weigh In On DexCom

A number of hedge funds and other institutional investors have recently modified their holdings of DXCM. Brighton Jones LLC raised its stake in DexCom by 257.7% during the 4th quarter. Brighton Jones LLC now owns 16,582 shares of the medical device company’s stock worth $1,290,000 after acquiring an additional 11,946 shares in the last quarter. Integrated Wealth Concepts LLC increased its stake in DexCom by 6.3% in the first quarter. Integrated Wealth Concepts LLC now owns 3,329 shares of the medical device company’s stock valued at $227,000 after purchasing an additional 196 shares during the period. Empowered Funds LLC increased its stake in DexCom by 5.4% in the first quarter. Empowered Funds LLC now owns 8,446 shares of the medical device company’s stock valued at $577,000 after purchasing an additional 436 shares during the period. Focus Partners Wealth increased its stake in DexCom by 13.2% in the first quarter. Focus Partners Wealth now owns 7,218 shares of the medical device company’s stock valued at $493,000 after purchasing an additional 841 shares during the period. Finally, NewEdge Advisors LLC increased its stake in shares of DexCom by 1.4% during the second quarter. NewEdge Advisors LLC now owns 19,253 shares of the medical device company’s stock worth $1,681,000 after acquiring an additional 258 shares during the period. 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.