DexCom (NASDAQ:DXCM) Rating Increased to Strong-Buy at UBS Group

DexCom (NASDAQ:DXCM) was upgraded by equities researchers at UBS Group to a “strong-buy” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

DXCM has been the topic of a number of other reports. Weiss Ratings lowered DexCom from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday. Bank of America cut their price target on DexCom from $100.00 to $80.00 and set a “buy” rating for the company in a report on Monday, May 18th. Barclays reaffirmed an “underweight” rating and set a $64.00 price objective (down from $67.00) on shares of DexCom in a research report on Monday, May 18th. Citigroup reiterated a “buy” rating and issued a $84.00 price objective (up from $79.00) on shares of DexCom in a report on Thursday, May 28th. Finally, Canaccord Genuity Group set a $82.00 price objective on shares of DexCom and gave the company a “buy” rating in a research report on Monday, May 18th. Three research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, DexCom presently has an average rating of “Moderate Buy” and an average target price of $85.40.

DexCom Trading Up 0.4%

DexCom stock opened at $75.14 on Tuesday. The stock has a 50-day simple moving average of $72.86 and a 200 day simple moving average of $69.05. The stock has a market capitalization of $28.99 billion, a P/E ratio of 32.11, a PEG ratio of 1.23 and a beta of 1.45. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.64 and a current ratio of 1.95. DexCom has a 52 week low of $54.11 and a 52 week high of $89.98.

DexCom (NASDAQ:DXCM) last released its quarterly earnings data on Thursday, April 30th. The medical device company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.09. DexCom had a return on equity of 33.33% and a net margin of 19.31%.The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the prior year, the company earned $0.32 earnings per share. The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. Analysts expect that DexCom will post 2.57 earnings per share for the current year.

Insider Activity at DexCom

In related news, insider Kevin R. Sayer sold 26,759 shares of the business’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $72.00, for a total value of $1,926,648.00. Following the completion of the sale, the insider directly owned 382,482 shares in the company, valued at $27,538,704. The trade was a 6.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jon Coleman sold 4,912 shares of the company’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $73.00, for a total value of $358,576.00. Following the completion of the transaction, the executive vice president directly owned 100,361 shares in the company, valued at approximately $7,326,353. This represents a 4.67% 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. Insiders have sold 98,506 shares of company stock valued at $7,205,258 in the last 90 days. Corporate insiders own 0.28% of the company’s stock.

Institutional Investors Weigh In On DexCom

A number of institutional investors have recently modified their holdings of DXCM. Brighton Jones LLC raised its stake in DexCom by 257.7% in the 4th quarter. Brighton Jones LLC now owns 16,582 shares of the medical device company’s stock worth $1,290,000 after purchasing an additional 11,946 shares in the last quarter. Integrated Wealth Concepts LLC grew its position in shares of DexCom by 6.3% during the 1st quarter. Integrated Wealth Concepts LLC now owns 3,329 shares of the medical device company’s stock worth $227,000 after purchasing an additional 196 shares in the last quarter. Empowered Funds LLC grew its position in shares of DexCom by 5.4% during the 1st quarter. Empowered Funds LLC now owns 8,446 shares of the medical device company’s stock worth $577,000 after purchasing an additional 436 shares in the last quarter. Focus Partners Wealth increased its holdings in shares of DexCom by 13.2% during the first quarter. Focus Partners Wealth now owns 7,218 shares of the medical device company’s stock worth $493,000 after purchasing an additional 841 shares during the period. Finally, NewEdge Advisors LLC increased its holdings in shares of DexCom by 1.4% during the second quarter. NewEdge Advisors LLC now owns 19,253 shares of the medical device company’s stock worth $1,681,000 after purchasing an additional 258 shares during the period. 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.