DexCom (NASDAQ:DXCM) Now Covered by Analysts at Deutsche Bank Aktiengesellschaft

Research analysts at Deutsche Bank Aktiengesellschaft initiated coverage on shares of DexCom (NASDAQ:DXCM) in a note issued to investors on Tuesday. The brokerage set a “buy” rating and a $86.00 price target on the medical device company’s stock. Deutsche Bank Aktiengesellschaft’s price target suggests a potential upside of 24.51% from the company’s current price.

A number of other research analysts also recently commented on DXCM. William Blair raised shares of DexCom to a “strong-buy” rating in a research report on Friday, May 15th. Stifel Nicolaus set a $90.00 target price on shares of DexCom and gave the company a “buy” rating in a report on Friday, June 5th. Citigroup reaffirmed a “buy” rating and issued a $84.00 target price (up from $79.00) on shares of DexCom in a report on Thursday, May 28th. Barclays reiterated an “underweight” rating and issued a $64.00 target price (down from $67.00) on shares of DexCom in a research note on Monday, May 18th. Finally, Canaccord Genuity Group set a $82.00 price target on DexCom and gave the stock a “buy” rating in a report on Monday, May 18th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, DexCom currently has an average rating of “Moderate Buy” and an average price target of $84.88.

DexCom Price Performance

NASDAQ:DXCM opened at $69.07 on Tuesday. DexCom has a 1-year low of $54.11 and a 1-year high of $89.98. The company has a current ratio of 1.95, a quick ratio of 1.64 and a debt-to-equity ratio of 0.42. The firm has a fifty day simple moving average of $67.13 and a 200 day simple moving average of $67.98. The stock has a market capitalization of $26.65 billion, a PE ratio of 29.52, a P/E/G ratio of 1.13 and a beta of 1.45.

DexCom (NASDAQ:DXCM) last issued its earnings results on Thursday, April 30th. The medical device company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.09. DexCom had a net margin of 19.31% and a return on equity of 33.33%. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the previous year, the company earned $0.32 earnings per share. The firm’s revenue for the quarter was up 15.0% on a year-over-year basis. On average, research analysts expect that DexCom will post 2.58 EPS for the current fiscal year.

Insider Activity

In other news, Director Bridgette P. Heller sold 1,012 shares of the business’s stock in a transaction that occurred on 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 owned 25,007 shares in the company, valued at $1,500,670.07. The trade was a 3.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jon Coleman sold 4,911 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $74.13, for a total value of $364,052.43. Following the completion of the transaction, the executive vice president directly owned 95,450 shares in the company, valued at $7,075,708.50. The trade was a 4.89% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 46,694 shares of company stock valued at $3,343,977. Company insiders own 0.28% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in DXCM. Geode Capital Management LLC boosted its position in shares of DexCom by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 11,006,183 shares of the medical device company’s stock valued at $727,842,000 after acquiring an additional 42,411 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in DexCom by 6.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,999,057 shares of the medical device company’s stock worth $530,897,000 after acquiring an additional 516,526 shares during the period. Norges Bank bought a new position in DexCom during the fourth quarter worth about $483,356,000. Invesco Ltd. raised its stake in DexCom by 14.8% in the 4th quarter. Invesco Ltd. now owns 5,315,367 shares of the medical device company’s stock worth $352,781,000 after purchasing an additional 686,228 shares in the last quarter. Finally, CIBC Private Wealth Group LLC raised its stake in DexCom by 7.6% in the 4th quarter. CIBC Private Wealth Group LLC now owns 3,128,114 shares of the medical device company’s stock worth $207,613,000 after purchasing an additional 220,313 shares in the last quarter. Institutional investors own 97.75% of the company’s stock.

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.