DexCom (NASDAQ:DXCM) Hits New 12-Month Low Following Analyst Downgrade

DexCom, Inc. (NASDAQ:DXCM) reached a new 52-week low during mid-day trading on Friday after Argus lowered their price target on the stock from $100.00 to $90.00. Argus currently has a buy rating on the stock. DexCom traded as low as $55.02 and last traded at $55.0870, with a volume of 2847181 shares. The stock had previously closed at $58.02.

A number of other analysts have also recently commented on DXCM. Canaccord Genuity Group set a $99.00 target price on shares of DexCom and gave the stock a “buy” rating in a research note on Friday, October 31st. TD Cowen cut their price objective on DexCom from $100.00 to $84.00 and set a “buy” rating for the company in a research note on Friday, October 31st. Raymond James Financial increased their target price on DexCom from $99.00 to $102.00 and gave the company a “strong-buy” rating in a report on Thursday, July 31st. Wall Street Zen lowered DexCom from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 10th. Finally, Cowen reiterated a “buy” rating on shares of DexCom in a research report on Friday, October 24th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $88.86.

Insider Buying and Selling

In related news, Director Mark G. Foletta sold 2,750 shares of the company’s stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $81.06, for a total value of $222,915.00. Following the completion of the sale, the director owned 51,121 shares of the company’s stock, valued at approximately $4,143,868.26. This represents a 5.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Sadie Stern sold 1,466 shares of DexCom stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $80.00, for a total transaction of $117,280.00. Following the transaction, the executive vice president directly owned 105,223 shares in the company, valued at $8,417,840. This trade represents a 1.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 5,383 shares of company stock valued at $434,274 in the last quarter. Corporate insiders own 0.32% of the company’s stock.

Institutional Trading of DexCom

A number of hedge funds and other institutional investors have recently made changes to their positions in DXCM. Vanguard Group Inc. lifted its holdings in DexCom by 2.3% in the third quarter. Vanguard Group Inc. now owns 49,456,043 shares of the medical device company’s stock valued at $3,327,897,000 after acquiring an additional 1,133,638 shares during the last quarter. Jennison Associates LLC lifted its stake in shares of DexCom by 9.4% in the 2nd quarter. Jennison Associates LLC now owns 11,517,546 shares of the medical device company’s stock valued at $1,005,367,000 after purchasing an additional 994,300 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of DexCom by 3.4% during the 2nd quarter. Geode Capital Management LLC now owns 10,766,356 shares of the medical device company’s stock worth $936,100,000 after purchasing an additional 358,617 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of DexCom by 22.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 10,123,525 shares of the medical device company’s stock worth $691,336,000 after purchasing an additional 1,868,241 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in shares of DexCom during the 1st quarter worth about $554,893,000. Institutional investors and hedge funds own 97.75% of the company’s stock.

DexCom Trading Down 5.8%

The company has a market cap of $21.32 billion, a PE ratio of 37.99, a price-to-earnings-growth ratio of 1.43 and a beta of 1.40. The company’s 50 day simple moving average is $69.65 and its two-hundred day simple moving average is $77.65. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.52 and a quick ratio of 1.35.

DexCom (NASDAQ:DXCM) last released its quarterly earnings results on Thursday, October 30th. The medical device company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.18 billion. DexCom had a net margin of 13.29% and a return on equity of 30.41%. The business’s revenue was up 21.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.45 EPS. DexCom has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that DexCom, Inc. will post 2.03 EPS for the current fiscal year.

About DexCom

DexCom, Inc, a medical device company, focuses on the design, development, and commercialization of continuous glucose monitoring (CGM) systems in the United States and internationally. The company provides its systems for use by people with diabetes, as well as for use by healthcare providers. Its products include Dexcom G6 and Dexcom G7, integrated CGM systems for diabetes management; Dexcom Share, a remote monitoring system; Dexcom Real-Time API, which enables authorized third-party software developers to integrate real-time CGM data into their digital health apps and devices; and Dexcom ONE, that is designed to replace finger stick blood glucose testing for diabetes treatment decisions.