Bank of America Issues Pessimistic Forecast for DexCom (NASDAQ:DXCM) Stock Price

DexCom (NASDAQ:DXCM) had its price objective lowered by investment analysts at Bank of America from $100.00 to $80.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the medical device company’s stock. Bank of America‘s price objective would suggest a potential upside of 24.46% from the company’s current price.

Several other research analysts have also commented on DXCM. Wells Fargo & Company dropped their price objective on shares of DexCom from $93.00 to $85.00 and set an “overweight” rating for the company in a research note on Friday, February 13th. Evercore upgraded DexCom from an “in-line” rating to an “outperform” rating and set a $90.00 target price for the company in a research report on Tuesday, March 24th. BTIG Research reiterated a “buy” rating and set a $85.00 target price on shares of DexCom in a research report on Monday, March 9th. Truist Financial reiterated a “buy” rating and set a $80.00 target price (down from $82.00) on shares of DexCom in a research report on Tuesday, February 17th. Finally, Canaccord Genuity Group set a $82.00 target price on DexCom in a research report on Monday. Three analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $82.21.

DexCom Trading Up 4.3%

NASDAQ DXCM traded up $2.65 on Monday, hitting $64.28. 5,059,238 shares of the stock were exchanged, compared to its average volume of 5,045,384. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.64 and a current ratio of 1.95. The stock has a fifty day moving average price of $63.46 and a two-hundred day moving average price of $65.85. The firm has a market capitalization of $24.80 billion, a P/E ratio of 27.43, a P/E/G ratio of 1.06 and a beta of 1.40. DexCom has a 52-week low of $54.11 and a 52-week high of $89.98.

DexCom (NASDAQ:DXCM) last posted its quarterly earnings data on Thursday, April 30th. The medical device company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.47 by $0.09. The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.17 billion. DexCom had a net margin of 19.31% and a return on equity of 33.33%. DexCom’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.32 earnings per share. Research analysts forecast that DexCom will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling at DexCom

In related news, EVP Michael Jon Brown sold 1,700 shares of the company’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $63.04, for a total value of $107,168.00. Following the completion of the sale, the executive vice president directly owned 111,204 shares of the company’s stock, valued at $7,010,300.16. This represents a 1.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bridgette P. Heller sold 1,012 shares of the company’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $60.01, for a total transaction of $60,730.12. Following the completion of the sale, the director directly owned 25,007 shares of the company’s stock, valued at approximately $1,500,670.07. This trade represents a 3.89% 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. Over the last quarter, insiders have sold 4,412 shares of company stock valued at $278,143. Corporate insiders own 0.28% of the company’s stock.

Hedge Funds Weigh In On DexCom

A number of large investors have recently added to or reduced their stakes in DXCM. Reflection Asset Management bought a new position in DexCom in the fourth quarter worth about $25,000. Ascentis Independent Advisors bought a new position in DexCom in the first quarter worth about $25,000. CVA Family Office LLC raised its holdings in DexCom by 48.5% in the fourth quarter. CVA Family Office LLC now owns 450 shares of the medical device company’s stock worth $30,000 after purchasing an additional 147 shares in the last quarter. MCF Advisors LLC bought a new position in DexCom in the fourth quarter worth about $32,000. Finally, ORG Partners LLC raised its holdings in DexCom by 124.3% in the fourth quarter. ORG Partners LLC now owns 507 shares of the medical device company’s stock worth $34,000 after purchasing an additional 281 shares in the last quarter. 97.75% of the stock is currently owned by 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.