DexCom (NASDAQ:DXCM) Upgraded to “Buy” by Zacks Investment Research

DexCom (NASDAQ:DXCM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports. The brokerage presently has a $243.00 price objective on the medical device company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 2.35% from the company’s previous close.

According to Zacks, “Strong contributions from the Sensor and Transmitter segments remain key catalysts for DexCom. Further, solid guidance instills optimism in the stock. The glucose monitoring market presents significant commercial opportunity for DexCom. Opportunities in alternative markets such as the non-intensive diabetes management space, hospital, gestational, pre-diabetes and obesity are likely to provide DexCom a competitive edge in the MedTech space. DexCom exited the third quarter on a strong note, wherein both earnings and revenues beat the Zacks Consensus Estimate. Shares of the company have outperformed the industry in a year's time. Meanwhile, cutthroat competition in the market for blood & glucose monitoring devices remains a headwind.”

DXCM has been the subject of a number of other reports. Cowen reiterated a “buy” rating and issued a $250.00 price target on shares of DexCom in a research note on Tuesday. Guggenheim upgraded shares of DexCom from a “neutral” rating to a “buy” rating in a research note on Thursday, November 7th. ValuEngine lowered shares of DexCom from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Jefferies Financial Group lifted their price target on shares of DexCom from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, Robert W. Baird lifted their price target on shares of DexCom from $195.00 to $240.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $209.80.

NASDAQ:DXCM traded down $1.86 on Wednesday, reaching $237.41. 24,781 shares of the stock traded hands, compared to its average volume of 773,519. The company has a market capitalization of $21.35 billion, a price-to-earnings ratio of 787.73 and a beta of 0.76. The company has a current ratio of 5.63, a quick ratio of 5.26 and a debt-to-equity ratio of 1.41. DexCom has a 12 month low of $107.44 and a 12 month high of $240.78. The company’s fifty day simple moving average is $219.94 and its 200 day simple moving average is $174.40.

DexCom (NASDAQ:DXCM) last released its quarterly earnings data on Wednesday, November 6th. The medical device company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.45. DexCom had a negative net margin of 12.68% and a positive return on equity of 16.16%. The business had revenue of $396.30 million during the quarter, compared to analyst estimates of $348.99 million. During the same period last year, the business earned $0.17 EPS. DexCom’s revenue was up 48.6% compared to the same quarter last year. Equities analysts anticipate that DexCom will post 1.34 EPS for the current fiscal year.

In related news, Director Barbara Kahn sold 9,000 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $205.14, for a total transaction of $1,846,260.00. Following the completion of the sale, the director now directly owns 2,613 shares in the company, valued at $536,030.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steven R. Altman sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $218.33, for a total transaction of $545,825.00. Following the sale, the director now owns 2,676 shares of the company’s stock, valued at $584,251.08. The disclosure for this sale can be found here. Insiders sold 45,636 shares of company stock valued at $9,136,924 over the last quarter. Company insiders own 1.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in DXCM. Virtus ETF Advisers LLC bought a new stake in DexCom during the second quarter valued at approximately $29,000. CSat Investment Advisory L.P. bought a new stake in DexCom during the second quarter valued at approximately $31,000. Steward Partners Investment Advisory LLC grew its position in DexCom by 33.3% during the third quarter. Steward Partners Investment Advisory LLC now owns 280 shares of the medical device company’s stock valued at $41,000 after buying an additional 70 shares during the period. Assetmark Inc. grew its position in DexCom by 120.9% during the second quarter. Assetmark Inc. now owns 285 shares of the medical device company’s stock valued at $43,000 after buying an additional 156 shares during the period. Finally, Neo Ivy Capital Management bought a new stake in DexCom during the third quarter valued at approximately $54,000. Institutional investors own 98.21% of the company’s stock.

About DexCom

DexCom, Inc, a medical device company, focuses on the design, development, and commercialization of continuous glucose monitoring (CGM) systems in the United States and internationally. The company offers its systems for ambulatory use by people with diabetes; and for use by healthcare providers. Its products include DexCom G6, a CGM system for diabetes management; DexCom G5 mobile CGM system to communicate directly to patient's mobile device; DexCom G4 PLATINUM system for continuous use by adults with diabetes; and DexCom Share, a remote monitoring system.

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