Truist Financial Reiterates “Buy” Rating for DexCom (NASDAQ:DXCM)

DexCom (NASDAQ:DXCM)‘s stock had its “buy” rating reissued by stock analysts at Truist Financial in a report released on Tuesday,Benzinga reports. They presently have a $80.00 price objective on the medical device company’s stock, down from their previous price objective of $82.00. Truist Financial’s price objective indicates a potential upside of 9.89% from the company’s previous close.

Several other brokerages have also recently issued reports on DXCM. TD Cowen reduced their price target on shares of DexCom from $100.00 to $84.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. Wells Fargo & Company reduced their target price on DexCom from $93.00 to $85.00 and set an “overweight” rating on the stock in a report on Friday, February 13th. Mizuho raised their target price on DexCom from $78.00 to $90.00 and gave the company an “outperform” rating in a research note on Friday, February 13th. BTIG Research reaffirmed a “buy” rating and issued a $85.00 price target on shares of DexCom in a research note on Friday, February 13th. Finally, Royal Bank Of Canada decreased their price objective on DexCom from $100.00 to $85.00 and set an “outperform” rating for the company in a report on Friday, October 31st. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, DexCom has a consensus rating of “Moderate Buy” and a consensus target price of $85.18.

DexCom Price Performance

DXCM opened at $72.80 on Tuesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.59 and a current ratio of 1.88. The stock has a market capitalization of $28.02 billion, a PE ratio of 34.67, a price-to-earnings-growth ratio of 1.37 and a beta of 1.49. The stock’s 50 day moving average price is $69.30 and its 200-day moving average price is $69.35. DexCom has a 52-week low of $54.11 and a 52-week high of $91.87.

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

Hedge Funds Weigh In On DexCom

A number of hedge funds have recently bought and sold shares of the company. Andra AP fonden purchased a new position in DexCom in the second quarter worth about $26,000. Twin Peaks Wealth Advisors LLC bought a new stake in shares of DexCom during the second quarter valued at approximately $26,000. SJS Investment Consulting Inc. lifted its position in DexCom by 4,800.0% in the 3rd quarter. SJS Investment Consulting Inc. now owns 392 shares of the medical device company’s stock valued at $26,000 after acquiring an additional 384 shares in the last quarter. Financial Consulate Inc. bought a new position in DexCom in the 3rd quarter valued at approximately $29,000. Finally, CVA Family Office LLC boosted its stake in DexCom by 48.5% during the 4th quarter. CVA Family Office LLC now owns 450 shares of the medical device company’s stock valued at $30,000 after purchasing an additional 147 shares during the last quarter. Institutional investors own 97.75% of the company’s stock.

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.