DexCom’s (DXCM) “Buy” Rating Reiterated at Canaccord Genuity Group

Canaccord Genuity Group reaffirmed their buy rating on shares of DexCom (NASDAQ:DXCM) in a research report sent to investors on Monday,Benzinga reports. They currently have a $106.00 target price on the medical device company’s stock.

Several other research analysts have also recently issued reports on DXCM. Wall Street Zen cut DexCom from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 10th. Argus began coverage on DexCom in a research note on Thursday, August 21st. They issued a “buy” rating and a $100.00 target price for the company. Barclays upped their price objective on DexCom from $93.00 to $98.00 and gave the company an “equal weight” rating in a report on Wednesday, July 30th. Mizuho upped their price target on DexCom from $95.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, July 16th. Finally, Raymond James Financial raised their price target on shares of DexCom from $99.00 to $102.00 and gave the company a “strong-buy” rating in a research report on Thursday, July 31st. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $98.32.

DexCom Stock Performance

Shares of DexCom stock opened at $66.08 on Monday. The company has a quick ratio of 1.35, a current ratio of 1.52 and a debt-to-equity ratio of 0.48. DexCom has a 52 week low of $57.52 and a 52 week high of $93.25. The firm has a market capitalization of $25.91 billion, a P/E ratio of 45.89, a PEG ratio of 1.41 and a beta of 1.47. The company has a 50 day moving average price of $77.16 and a 200 day moving average price of $77.94.

DexCom (NASDAQ:DXCM) last posted its quarterly earnings data on Wednesday, July 30th. The medical device company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.45 by $0.03. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.13 billion. DexCom had a net margin of 13.29% and a return on equity of 30.41%. The business’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.43 earnings per share. DexCom has set its FY 2025 guidance at EPS. Sell-side analysts expect that DexCom will post 2.03 EPS for the current year.

Insider Activity

In related news, EVP Sadie Stern sold 1,466 shares of the stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $80.00, for a total value of $117,280.00. Following the transaction, the executive vice president owned 105,223 shares of the company’s stock, valued at $8,417,840. This represents a 1.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Michael Jon Brown sold 500 shares of the company’s stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $80.29, for a total value of $40,145.00. Following the transaction, the executive vice president directly owned 94,102 shares of the company’s stock, valued at approximately $7,555,449.58. This represents a 0.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,849 shares of company stock worth $564,733. 0.32% of the stock is currently owned by company insiders.

Institutional Trading of DexCom

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nuveen LLC acquired a new position in shares of DexCom in the 1st quarter valued at $554,893,000. Norges Bank purchased a new stake in DexCom in the second quarter valued at $453,279,000. Groupama Asset Managment boosted its stake in DexCom by 79,043.1% in the second quarter. Groupama Asset Managment now owns 4,016,513 shares of the medical device company’s stock valued at $350,601,000 after acquiring an additional 4,011,438 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of DexCom by 106.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 6,605,687 shares of the medical device company’s stock worth $576,610,000 after purchasing an additional 3,410,858 shares during the last quarter. Finally, Jennison Associates LLC grew its holdings in shares of DexCom by 37.7% during the first quarter. Jennison Associates LLC now owns 10,523,246 shares of the medical device company’s stock worth $718,632,000 after purchasing an additional 2,879,489 shares during the last quarter. Institutional investors and hedge funds own 97.75% of the company’s stock.

DexCom Company Profile

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.