DexCom (NASDAQ:DXCM) Reaches New 52-Week High – Still a Buy?

DexCom, Inc. (NASDAQ:DXCM) reached a new 52-week high on Monday . The stock traded as high as $88.01 and last traded at $87.5840, with a volume of 1501585 shares trading hands. The stock had previously closed at $84.75.

Wall Street Analyst Weigh In

A number of analysts have issued reports on DXCM shares. UBS Group set a $96.00 price objective on DexCom and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Wall Street Zen lowered shares of DexCom from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 10th. Barclays restated an “underweight” rating and issued a $64.00 price target (down from $67.00) on shares of DexCom in a research report on Monday, May 18th. Benchmark upped their price target on shares of DexCom from $77.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Finally, William Blair raised shares of DexCom to a “strong-buy” rating in a research note on Friday, May 15th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.71.

DexCom Trading Up 2.1%

The stock has a market cap of $33.79 billion, a P/E ratio of 35.39, a P/E/G ratio of 1.46 and a beta of 1.41. The company has a current ratio of 1.73, a quick ratio of 1.43 and a debt-to-equity ratio of 0.47. The company has a 50-day moving average price of $75.00 and a two-hundred day moving average price of $69.97.

DexCom (NASDAQ:DXCM) last issued its quarterly earnings results on Thursday, July 30th. The medical device company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.09. The company had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.29 billion. DexCom had a return on equity of 35.94% and a net margin of 20.12%.DexCom’s revenue was up 13.1% on a year-over-year basis. During the same period last year, the company earned $0.48 earnings per share. On average, research analysts expect that DexCom, Inc. will post 2.65 EPS for the current fiscal year.

Insiders Place Their Bets

In other DexCom news, insider Kevin R. Sayer sold 26,759 shares of the company’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $72.00, for a total value of $1,926,648.00. Following the transaction, the insider owned 382,482 shares of the company’s stock, valued at $27,538,704. This represents a 6.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark G. Foletta sold 4,000 shares of the company’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $74.13, for a total transaction of $296,520.00. Following the completion of the transaction, the director owned 52,852 shares in the company, valued at approximately $3,917,918.76. The trade was a 7.04% 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 101,494 shares of company stock worth $7,475,168 over the last three months. 0.28% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On DexCom

Institutional investors have recently modified their holdings of the stock. MassMutual Private Wealth & Trust FSB lifted its position in shares of DexCom by 15.4% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,147 shares of the medical device company’s stock worth $77,000 after purchasing an additional 153 shares during the last quarter. V Square Quantitative Management LLC grew its holdings in DexCom by 1.8% in the 1st quarter. V Square Quantitative Management LLC now owns 9,618 shares of the medical device company’s stock valued at $604,000 after buying an additional 172 shares during the last quarter. Essex Financial Services Inc. grew its holdings in DexCom by 5.7% in the 1st quarter. Essex Financial Services Inc. now owns 3,256 shares of the medical device company’s stock valued at $204,000 after buying an additional 175 shares during the last quarter. Keel Point LLC increased its position in DexCom by 3.1% during the fourth quarter. Keel Point LLC now owns 6,473 shares of the medical device company’s stock worth $430,000 after acquiring an additional 193 shares during the period. Finally, Integrated Wealth Concepts LLC grew its position in DexCom by 6.3% in the 1st quarter. Integrated Wealth Concepts LLC now owns 3,329 shares of the medical device company’s stock worth $227,000 after purchasing an additional 196 shares during the last quarter. 97.75% of the stock is owned by hedge funds and other 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.