DexCom, Inc. (NASDAQ:DXCM) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of DexCom, Inc. (NASDAQ:DXCM) have been given an average rating of “Moderate Buy” by the twenty-five ratings firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $85.2727.

A number of research analysts have recently issued reports on the stock. Truist Financial restated a “buy” rating and issued a $82.00 price target (down from $94.00) on shares of DexCom in a research report on Monday, November 3rd. Barclays reissued an “underweight” rating and issued a $72.00 target price (up previously from $71.00) on shares of DexCom in a report on Friday. TD Cowen dropped their price target on DexCom from $100.00 to $84.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. UBS Group cut their price target on DexCom from $106.00 to $95.00 and set a “buy” rating on the stock in a report on Monday, November 3rd. Finally, Royal Bank Of Canada lowered their price objective on DexCom from $100.00 to $85.00 and set an “outperform” rating for the company in a research note on Friday, October 31st.

DexCom Trading Up 7.6%

Shares of NASDAQ DXCM opened at $70.02 on Thursday. The company has a quick ratio of 1.59, a current ratio of 1.88 and a debt-to-equity ratio of 0.45. The stock’s 50 day moving average price is $69.12 and its two-hundred day moving average price is $69.39. DexCom has a 52-week low of $54.11 and a 52-week high of $93.25. The stock has a market capitalization of $26.95 billion, a P/E ratio of 33.34, a PEG ratio of 1.25 and a beta of 1.49.

DexCom (NASDAQ:DXCM) last issued its quarterly earnings results on Thursday, February 12th. The medical device company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.03. DexCom had a return on equity of 32.12% and a net margin of 17.94%.The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same period in the previous year, the business earned $0.45 EPS. The business’s quarterly revenue was up 13.1% on a year-over-year basis. On average, analysts anticipate that DexCom will post 2.03 earnings per share for the current fiscal year.

Institutional Trading of DexCom

Several hedge funds have recently bought and sold shares of the company. Jennison Associates LLC grew its stake in shares of DexCom by 9.4% during the 2nd quarter. Jennison Associates LLC now owns 11,517,546 shares of the medical device company’s stock worth $1,005,367,000 after acquiring an additional 994,300 shares in the last quarter. Marshall Wace LLP grew its position in DexCom by 260.7% in the second quarter. Marshall Wace LLP now owns 3,822,085 shares of the medical device company’s stock valued at $333,630,000 after purchasing an additional 2,762,504 shares in the last quarter. E. Ohman J or Asset Management AB increased its stake in DexCom by 400.2% in the 3rd quarter. E. Ohman J or Asset Management AB now owns 77,492 shares of the medical device company’s stock valued at $5,214,000 after buying an additional 62,000 shares during the last quarter. Zevenbergen Capital Investments LLC increased its stake in DexCom by 10.0% in the 3rd quarter. Zevenbergen Capital Investments LLC now owns 685,433 shares of the medical device company’s stock valued at $46,123,000 after buying an additional 62,098 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in DexCom by 11.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 212,045 shares of the medical device company’s stock worth $14,269,000 after buying an additional 21,352 shares in the last quarter. 97.75% of the stock is currently owned by institutional investors.

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.