DexCom (NASDAQ:DXCM) Stock Price Expected to Rise, Truist Financial Analyst Says

DexCom (NASDAQ:DXCM) had its target price increased by Truist Financial from $80.00 to $87.00 in a report issued on Thursday, MarketBeat.com reports. The firm presently has a “buy” rating on the medical device company’s stock. Truist Financial’s target price points to a potential upside of 13.50% from the stock’s current price.

Several other research firms have also recently weighed in on DXCM. Citigroup restated a “buy” rating and set a $84.00 target price (up from $79.00) on shares of DexCom in a research note on Thursday, May 28th. Bank of America dropped their price target on shares of DexCom from $100.00 to $80.00 and set a “buy” rating on the stock in a research note on Monday, May 18th. UBS Group set a $95.00 price objective on shares of DexCom in a report on Wednesday, June 10th. TD Cowen restated a “buy” rating and set a $95.00 price objective (up from $75.00) on shares of DexCom in a research report on Wednesday, June 10th. Finally, William Blair upgraded shares of DexCom to a “strong-buy” rating in a research report on Friday, May 15th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $85.36.

DexCom Stock Down 1.7%

DexCom stock opened at $76.65 on Thursday. DexCom has a 1-year low of $54.11 and a 1-year high of $89.98. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.95 and a quick ratio of 1.64. The stock has a market cap of $29.58 billion, a PE ratio of 32.76, a P/E/G ratio of 1.28 and a beta of 1.45. The stock’s fifty day moving average is $71.16 and its two-hundred day moving average is $68.73.

DexCom (NASDAQ:DXCM) last announced its quarterly earnings results on Thursday, April 30th. The medical device company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.09. DexCom had a return on equity of 33.33% and a net margin of 19.31%.The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the previous year, the business earned $0.32 EPS. DexCom’s revenue for the quarter was up 15.0% on a year-over-year basis. On average, sell-side analysts expect that DexCom will post 2.57 EPS for the current fiscal year.

Insider Transactions at DexCom

In other DexCom news, EVP Jon Coleman sold 4,911 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $74.13, for a total value of $364,052.43. Following the completion of the sale, the executive vice president owned 95,450 shares in the company, valued at approximately $7,075,708.50. The trade was a 4.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark G. Foletta sold 4,000 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $74.13, for a total value of $296,520.00. Following the completion of the sale, the director directly owned 52,852 shares of the company’s stock, valued at $3,917,918.76. The trade was a 7.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 71,750 shares of company stock worth $5,163,241. Insiders own 0.28% of the company’s stock.

Hedge Funds Weigh In On DexCom

A number of institutional investors have recently modified their holdings of the business. Reflection Asset Management purchased a new position in DexCom during the 4th quarter worth $25,000. Ascentis Independent Advisors acquired a new position in DexCom in the first quarter valued at $25,000. CVA Family Office LLC raised its holdings in shares of DexCom by 48.5% in the fourth quarter. CVA Family Office LLC now owns 450 shares of the medical device company’s stock valued at $30,000 after buying an additional 147 shares during the last quarter. MCF Advisors LLC purchased a new stake in shares of DexCom in the fourth quarter valued at about $32,000. Finally, ORG Partners LLC boosted its stake in shares of DexCom by 124.3% during the fourth quarter. ORG Partners LLC now owns 507 shares of the medical device company’s stock worth $34,000 after buying an additional 281 shares during the period. 97.75% of the stock is 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.