UBS Group Upgrades DexCom (NASDAQ:DXCM) to Strong-Buy

DexCom (NASDAQ:DXCM) was upgraded by investment analysts at UBS Group to a “strong-buy” rating in a research note issued on Tuesday,Zacks.com reports.

DXCM has been the topic of several other reports. Wall Street Zen lowered shares of DexCom from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 10th. Sanford C. Bernstein set a $77.00 price objective on DexCom in a research note on Friday, May 1st. Deutsche Bank Aktiengesellschaft started coverage on DexCom in a report on Tuesday, June 23rd. They issued a “buy” rating and a $86.00 price objective for the company. Citigroup reaffirmed a “buy” rating and set a $84.00 target price (up from $79.00) on shares of DexCom in a report on Thursday, May 28th. Finally, Mizuho lifted their price target on DexCom from $85.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, July 15th. Three analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, DexCom has an average rating of “Moderate Buy” and a consensus price target of $85.40.

DexCom Stock Up 0.4%

DXCM stock opened at $75.14 on Tuesday. The firm’s fifty day simple moving average is $72.86 and its 200-day simple moving average is $69.05. The company has a market capitalization of $28.99 billion, a P/E ratio of 32.11, a price-to-earnings-growth ratio of 1.23 and a beta of 1.45. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.95 and a quick ratio of 1.64. DexCom has a 12 month low of $54.11 and a 12 month high of $89.98.

DexCom (NASDAQ:DXCM) last issued its earnings results on Thursday, April 30th. The medical device company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.09. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.17 billion. DexCom had a net margin of 19.31% and a return on equity of 33.33%. The firm’s revenue was up 15.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.32 earnings per share. As a group, equities research analysts forecast that DexCom will post 2.57 earnings per share for the current year.

Insider Buying and Selling

In other DexCom news, insider Kevin R. Sayer sold 26,759 shares of the stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $72.00, for a total transaction of $1,926,648.00. Following the transaction, the insider owned 382,482 shares in the company, valued at approximately $27,538,704. This represents a 6.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Jon Brown sold 1,700 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $75.55, for a total value of $128,435.00. Following the completion of the sale, the executive vice president directly owned 106,353 shares in the company, valued at approximately $8,034,969.15. The trade was a 1.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 98,506 shares of company stock worth $7,205,258 in the last ninety days. 0.28% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On DexCom

A number of institutional investors have recently added to or reduced their stakes in the stock. Reflection Asset Management acquired a new position in DexCom during the fourth quarter worth $25,000. Ascentis Independent Advisors purchased a new position in DexCom during the first quarter valued at $25,000. MCF Advisors LLC acquired a new stake in shares of DexCom in the fourth quarter valued at about $32,000. ORG Partners LLC grew its position in shares of DexCom by 124.3% in the fourth quarter. ORG Partners LLC now owns 507 shares of the medical device company’s stock valued at $34,000 after purchasing an additional 281 shares during the period. Finally, Wellington Grp LLC increased its stake in shares of DexCom by 778.7% during the first quarter. Wellington Grp LLC now owns 536 shares of the medical device company’s stock worth $34,000 after purchasing an additional 475 shares in the last quarter. Institutional investors and hedge funds 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.