DexCom (NASDAQ:DXCM) Rating Lowered to Underweight at Barclays

DexCom (NASDAQ:DXCM) was downgraded by equities researchers at Barclays from an “equal weight” rating to an “underweight” rating in a note issued to investors on Monday. They presently have a $71.00 target price on the medical device company’s stock. Barclays‘s price target would suggest a potential upside of 5.34% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. BTIG Research cut their price objective on DexCom from $109.00 to $85.00 and set a “buy” rating for the company in a report on Friday, October 31st. Stifel Nicolaus started coverage on shares of DexCom in a research note on Tuesday, October 21st. They issued a “buy” rating and a $85.00 price objective on the stock. Truist Financial restated a “buy” rating and set a $82.00 target price (down from $94.00) on shares of DexCom in a research report on Monday, November 3rd. Evercore ISI began coverage on shares of DexCom in a report on Tuesday, November 25th. They set an “in-line” rating and a $68.00 price target on the stock. Finally, UBS Group dropped their target price on shares of DexCom from $106.00 to $95.00 and set a “buy” rating for the company in a research report on Monday, November 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, DexCom presently has an average rating of “Moderate Buy” and a consensus target price of $86.30.

DexCom Price Performance

Shares of NASDAQ DXCM opened at $67.40 on Monday. The company has a fifty day moving average price of $63.92 and a 200 day moving average price of $72.00. The firm has a market cap of $26.29 billion, a PE ratio of 37.44, a PEG ratio of 1.21 and a beta of 1.48. The company has a current ratio of 1.56, a quick ratio of 1.38 and a debt-to-equity ratio of 0.45. DexCom has a 1-year low of $54.11 and a 1-year high of $93.25.

DexCom (NASDAQ:DXCM) last announced its quarterly earnings results on Thursday, October 30th. The medical device company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. DexCom had a net margin of 15.96% and a return on equity of 30.65%. The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter last year, the company posted $0.45 earnings per share. The company’s revenue for the quarter was up 21.6% compared to the same quarter last year. Research analysts predict that DexCom will post 2.03 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Jacob Steven Leach purchased 18,200 shares of the firm’s stock in a transaction dated Monday, November 10th. The shares were acquired at an average price of $55.04 per share, with a total value of $1,001,728.00. Following the purchase, the chief operating officer directly owned 331,697 shares of the company’s stock, valued at $18,256,602.88. The trade was a 5.81% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Richard Alexander Collins sold 3,948 shares of DexCom stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $55.17, for a total value of $217,811.16. Following the transaction, the director owned 37,994 shares of the company’s stock, valued at $2,096,128.98. This represents a 9.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 7,866 shares of company stock worth $448,177. 0.32% of the stock is currently owned by insiders.

Institutional Trading of DexCom

Several hedge funds and other institutional investors have recently modified their holdings of DXCM. SWS Partners acquired a new stake in shares of DexCom during the 2nd quarter worth about $1,661,000. Baader Bank Aktiengesellschaft acquired a new position in DexCom in the 2nd quarter worth $393,000. Jennison Associates LLC grew its position in shares of DexCom by 9.4% during the second quarter. Jennison Associates LLC now owns 11,517,546 shares of the medical device company’s stock worth $1,005,367,000 after buying an additional 994,300 shares in the last quarter. Mn Services Vermogensbeheer B.V. boosted its holdings in DexCom by 4.9% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 146,600 shares of the medical device company’s stock worth $12,797,000 after purchasing an additional 6,800 shares during the period. Finally, Assenagon Asset Management S.A. boosted its position in DexCom by 85.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,208,255 shares of the medical device company’s stock valued at $105,469,000 after purchasing an additional 557,576 shares during the period. Institutional investors and hedge funds 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.