DexCom (NASDAQ:DXCM) Announces Earnings Results, Beats Estimates By $0.05 EPS

DexCom (NASDAQ:DXCM) posted its quarterly earnings results on Thursday. The medical device company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05, reports. DexCom had a return on equity of 31.38% and a net margin of 16.82%. The business had revenue of $921.00 million during the quarter, compared to the consensus estimate of $911.20 million. DexCom updated its FY 2024 guidance to EPS.

DexCom Stock Performance

Shares of DXCM stock opened at $124.34 on Friday. The company has a market capitalization of $49.24 billion, a price-to-earnings ratio of 80.22, a P/E/G ratio of 2.37 and a beta of 1.20. DexCom has a 1-year low of $74.75 and a 1-year high of $142.00. The company has a current ratio of 2.84, a quick ratio of 2.48 and a debt-to-equity ratio of 1.18. The stock’s fifty day simple moving average is $131.13 and its 200-day simple moving average is $118.30.

Analyst Ratings Changes

Several equities analysts have recently issued reports on DXCM shares. Citigroup boosted their price objective on DexCom from $148.00 to $161.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Raymond James boosted their price objective on DexCom from $151.00 to $160.00 and gave the stock a “strong-buy” rating in a research report on Friday. Royal Bank of Canada started coverage on DexCom in a research report on Tuesday, March 12th. They set an “outperform” rating and a $165.00 price objective for the company. Canaccord Genuity Group boosted their price objective on DexCom from $144.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday. Finally, StockNews.com downgraded DexCom from a “buy” rating to a “hold” rating in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $141.67.

Insider Buying and Selling

In other DexCom news, EVP Matthew Vincent Dolan sold 1,990 shares of DexCom stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $137.81, for a total transaction of $274,241.90. Following the transaction, the executive vice president now owns 42,377 shares of the company’s stock, valued at approximately $5,839,974.37. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other DexCom news, EVP Matthew Vincent Dolan sold 1,990 shares of DexCom stock in a transaction on Monday, April 15th. The shares were sold at an average price of $137.81, for a total transaction of $274,241.90. Following the completion of the sale, the executive vice president now owns 42,377 shares of the company’s stock, valued at approximately $5,839,974.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Jereme M. Sylvain sold 3,363 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $116.73, for a total transaction of $392,562.99. Following the transaction, the chief financial officer now owns 71,142 shares in the company, valued at $8,304,405.66. The disclosure for this sale can be found here. In the last ninety days, insiders sold 189,375 shares of company stock valued at $25,530,859. Corporate insiders own 0.41% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of DXCM. Cary Street Partners Investment Advisory LLC raised its holdings in DexCom by 11.1% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 1,153 shares of the medical device company’s stock valued at $108,000 after buying an additional 115 shares in the last quarter. CX Institutional acquired a new position in shares of DexCom during the 4th quarter valued at about $286,000. abrdn plc raised its stake in shares of DexCom by 21.1% in the 4th quarter. abrdn plc now owns 380,535 shares of the medical device company’s stock valued at $47,221,000 after acquiring an additional 66,348 shares in the last quarter. Cerity Partners LLC lifted its holdings in DexCom by 5,791.0% in the 4th quarter. Cerity Partners LLC now owns 463,973 shares of the medical device company’s stock worth $57,574,000 after purchasing an additional 456,097 shares during the last quarter. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in DexCom during the fourth quarter valued at approximately $57,000. Institutional investors own 97.75% of the company’s stock.

About DexCom

DexCom, Inc, a medical device company, focuses on the design, development, and commercialization of continuous glucose monitoring (CGM) systems in the United States and internationally. The company provides its systems for use by people with diabetes, as well as for use by healthcare providers. Its products include Dexcom G6 and Dexcom G7, integrated CGM systems for diabetes management; Dexcom Share, a remote monitoring system; Dexcom Real-Time API, which enables authorized third-party software developers to integrate real-time CGM data into their digital health apps and devices; and Dexcom ONE, that is designed to replace finger stick blood glucose testing for diabetes treatment decisions.