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

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

DexCom Trading Down 9.9 %

Shares of DXCM opened at $124.34 on Friday. The business has a 50-day moving average of $131.13 and a 200 day moving average of $118.30. DexCom has a fifty-two week low of $74.75 and a fifty-two week high of $142.00. The firm has a market cap of $49.24 billion, a P/E ratio of 80.22, a price-to-earnings-growth ratio of 2.37 and a beta of 1.20. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.48 and a current ratio of 2.84.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Raymond James increased their target price on shares of DexCom from $151.00 to $160.00 and gave the company a “strong-buy” rating in a research report on Friday. Canaccord Genuity Group lifted their price target on shares of DexCom from $144.00 to $145.00 and gave the company a “buy” rating in a research report on Friday. StockNews.com downgraded shares of DexCom from a “buy” rating to a “hold” rating in a research report on Tuesday. Royal Bank of Canada initiated coverage on shares of DexCom in a research report on Tuesday, March 12th. They issued an “outperform” rating and a $165.00 price target for the company. Finally, UBS Group lifted their price target on shares of DexCom from $153.00 to $163.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, DexCom currently has a consensus rating of “Moderate Buy” and a consensus target price of $141.67.

Insider Buying and Selling

In related 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 value 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 legal filing with the SEC, which is available at this hyperlink. In related 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 value 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 legal filing with the SEC, which is available at this hyperlink. Also, CEO Kevin R. Sayer sold 81,007 shares of DexCom stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $133.36, for a total value of $10,803,093.52. Following the completion of the sale, the chief executive officer now directly owns 333,526 shares of the company’s stock, valued at approximately $44,479,027.36. The disclosure for this sale can be found here. In the last 90 days, insiders sold 189,375 shares of company stock valued at $25,530,859. 0.41% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. DSM Capital Partners LLC purchased a new position in DexCom during the 4th quarter valued at about $28,000. Riverview Trust Co purchased a new position in shares of DexCom during the first quarter worth about $32,000. Valley National Advisers Inc. grew its holdings in shares of DexCom by 73.0% during the fourth quarter. Valley National Advisers Inc. now owns 244 shares of the medical device company’s stock worth $30,000 after purchasing an additional 103 shares in the last quarter. MV Capital Management Inc. grew its holdings in shares of DexCom by 99.3% during the fourth quarter. MV Capital Management Inc. now owns 277 shares of the medical device company’s stock worth $34,000 after purchasing an additional 138 shares in the last quarter. Finally, Smithfield Trust Co grew its holdings in shares of DexCom by 103.1% during the fourth quarter. Smithfield Trust Co now owns 325 shares of the medical device company’s stock worth $40,000 after purchasing an additional 165 shares in the last quarter. Hedge funds and other 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.