DexCom (NASDAQ:DXCM) Given Buy Rating at Truist Financial

DexCom (NASDAQ:DXCM)‘s stock had its “buy” rating restated by research analysts at Truist Financial in a research report issued on Tuesday,Benzinga reports. They currently have a $80.00 target price on the medical device company’s stock, down from their previous target price of $82.00. Truist Financial’s target price points to a potential upside of 13.30% from the stock’s current price.

Other analysts have also recently issued reports about the company. Mizuho upped their price target on DexCom from $78.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday. UBS Group cut their price target on shares of DexCom from $106.00 to $95.00 and set a “buy” rating for the company in a report on Monday, November 3rd. Citigroup reaffirmed a “buy” rating and set a $77.00 price objective (up from $75.00) on shares of DexCom in a research note on Thursday, December 11th. Robert W. Baird set a $87.00 target price on shares of DexCom in a research note on Friday. Finally, Leerink Partners reissued an “outperform” rating and issued a $92.00 target price on shares of DexCom in a report on Tuesday, December 16th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, DexCom currently has a consensus rating of “Moderate Buy” and an average price target of $85.18.

DexCom Stock Performance

DexCom stock traded up $0.59 during mid-day trading on Tuesday, reaching $70.61. The company had a trading volume of 1,522,757 shares, compared to its average volume of 5,903,206. The company has a quick ratio of 1.59, a current ratio of 1.88 and a debt-to-equity ratio of 0.45. The firm has a market cap of $27.54 billion, a price-to-earnings ratio of 33.72, a PEG ratio of 1.25 and a beta of 1.49. The company has a 50 day moving average of $69.12 and a 200-day moving average of $69.39. DexCom has a 52 week low of $54.11 and a 52 week high of $93.25.

DexCom (NASDAQ:DXCM) last released its earnings results on Thursday, February 12th. The medical device company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.03. DexCom had a net margin of 17.94% and a return on equity of 32.12%. The business had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter last year, the company earned $0.45 earnings per share. The firm’s revenue was up 13.1% on a year-over-year basis. On average, sell-side analysts expect that DexCom will post 2.03 EPS for the current fiscal year.

Institutional Trading of DexCom

Institutional investors and hedge funds have recently made changes to their positions in the business. Jennison Associates LLC grew its holdings in shares of DexCom by 9.4% during the 2nd quarter. Jennison Associates LLC now owns 11,517,546 shares of the medical device company’s stock valued at $1,005,367,000 after purchasing an additional 994,300 shares during the last quarter. Marshall Wace LLP raised its position in DexCom by 260.7% during the 2nd quarter. Marshall Wace LLP now owns 3,822,085 shares of the medical device company’s stock worth $333,630,000 after purchasing an additional 2,762,504 shares during the last quarter. E. Ohman J or Asset Management AB lifted its holdings in DexCom by 400.2% during the 3rd quarter. E. Ohman J or Asset Management AB now owns 77,492 shares of the medical device company’s stock worth $5,214,000 after buying an additional 62,000 shares during the period. Zevenbergen Capital Investments LLC grew its position in shares of DexCom by 10.0% in the 3rd quarter. Zevenbergen Capital Investments LLC now owns 685,433 shares of the medical device company’s stock valued at $46,123,000 after buying an additional 62,098 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in DexCom by 11.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 212,045 shares of the medical device company’s stock valued at $14,269,000 after purchasing an additional 21,352 shares during the period. 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.