DexCom’s (DXCM) Buy Rating Reaffirmed at Truist Financial

DexCom (NASDAQ:DXCM)‘s stock had its “buy” rating reiterated by research analysts at Truist Financial in a research report issued on Tuesday,Benzinga reports. They currently 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 target points to a potential upside of 13.30% from the stock’s previous close.

Several other research analysts also recently weighed in on DXCM. JPMorgan Chase & Co. cut their price target on DexCom from $90.00 to $75.00 and set a “neutral” rating for the company in a research note on Friday, October 31st. Robert W. Baird set a $87.00 price objective on shares of DexCom in a research report on Friday. UBS Group lowered their price objective on shares of DexCom from $106.00 to $95.00 and set a “buy” rating for the company in a report on Monday, November 3rd. Barclays reaffirmed an “underweight” rating and issued a $72.00 target price (up from $71.00) on shares of DexCom in a research note on Friday. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of DexCom in a research report on Monday, January 12th. Two investment 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 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 a consensus price target of $85.18.

DexCom Stock Up 0.8%

Shares of DexCom stock traded up $0.59 during trading on Tuesday, reaching $70.61. 1,522,757 shares of the company traded hands, compared to its average volume of 5,903,206. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.88 and a quick ratio of 1.59. The company has a 50 day moving average price of $69.12 and a 200-day moving average price of $69.39. The firm has a market capitalization of $27.54 billion, a PE ratio of 33.72, a P/E/G ratio of 1.25 and a beta of 1.49. DexCom has a 1-year low of $54.11 and a 1-year high of $93.25.

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

Hedge Funds Weigh In On DexCom

A number of institutional investors and hedge funds have recently modified their holdings of the company. J. Stern & Co. LLP grew its holdings in DexCom by 2,114.8% during the fourth quarter. J. Stern & Co. LLP now owns 1,601,973 shares of the medical device company’s stock valued at $106,323,000 after purchasing an additional 1,529,641 shares during the period. Captrust Financial Advisors increased its stake in shares of DexCom by 50.6% in the fourth quarter. Captrust Financial Advisors now owns 41,431 shares of the medical device company’s stock worth $2,750,000 after purchasing an additional 13,913 shares in the last quarter. ExodusPoint Capital Management LP raised its position in shares of DexCom by 274.3% during the 4th quarter. ExodusPoint Capital Management LP now owns 134,054 shares of the medical device company’s stock valued at $8,897,000 after purchasing an additional 98,240 shares during the period. Persistent Asset Partners Ltd purchased a new position in shares of DexCom during the 4th quarter valued at $239,000. Finally, Aster Capital Management DIFC Ltd bought a new position in DexCom in the 4th quarter worth $63,000. 97.75% of the stock is currently owned by hedge funds and other institutional investors.

DexCom Company Profile

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.