DexCom (NASDAQ:DXCM) Issues Earnings Results, Beats Expectations By $0.02 EPS

DexCom (NASDAQ:DXCM) announced its quarterly earnings data on Thursday. The medical device company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.02, reports. DexCom had a return on equity of 31.41% and a net margin of 16.95%. The company had revenue of $994.20 million for the quarter, compared to analyst estimates of $991.55 million. DexCom updated its FY 2024 guidance to EPS.

DexCom Trading Down 1.9 %

Shares of DXCM stock opened at $73.44 on Friday. The company has a market capitalization of $29.43 billion, a price-to-earnings ratio of 45.33, a PEG ratio of 2.26 and a beta of 1.18. The company has a current ratio of 2.82, a quick ratio of 2.48 and a debt-to-equity ratio of 1.00. The firm has a 50-day moving average price of $70.11 and a 200 day moving average price of $98.24. DexCom has a twelve month low of $62.34 and a twelve month high of $142.00.

Insiders Place Their Bets

In related news, EVP Sadie Stern sold 426 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $69.15, for a total transaction of $29,457.90. Following the transaction, the executive vice president now owns 75,451 shares of the company’s stock, valued at approximately $5,217,436.65. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other DexCom news, COO Jacob Steven Leach sold 746 shares of DexCom stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $69.15, for a total value of $51,585.90. Following the completion of the sale, the chief operating officer now owns 264,915 shares in the company, valued at $18,318,872.25. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Sadie Stern sold 426 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $69.15, for a total transaction of $29,457.90. Following the transaction, the executive vice president now owns 75,451 shares in the company, valued at approximately $5,217,436.65. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,824 shares of company stock valued at $126,390 in the last ninety days. Insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On DexCom

Institutional investors and hedge funds have recently bought and sold shares of the stock. Crewe Advisors LLC acquired a new stake in shares of DexCom during the 1st quarter worth $29,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in DexCom during the second quarter valued at about $25,000. Riverview Trust Co acquired a new stake in DexCom during the first quarter worth about $32,000. Sachetta LLC raised its holdings in shares of DexCom by 255.2% in the 2nd quarter. Sachetta LLC now owns 238 shares of the medical device company’s stock worth $27,000 after purchasing an additional 171 shares during the period. Finally, Sound Income Strategies LLC lifted its stake in shares of DexCom by 41.7% in the 1st quarter. Sound Income Strategies LLC now owns 340 shares of the medical device company’s stock valued at $47,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 97.75% of the company’s stock.

Analyst Upgrades and Downgrades

DXCM has been the topic of a number of analyst reports. Oppenheimer decreased their price target on DexCom from $115.00 to $105.00 and set an “outperform” rating on the stock in a research note on Friday. Morgan Stanley lowered their price target on shares of DexCom from $120.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Friday, July 26th. UBS Group reduced their price objective on shares of DexCom from $163.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, July 26th. Sanford C. Bernstein upped their target price on shares of DexCom from $82.00 to $86.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Robert W. Baird increased their target price on shares of DexCom from $80.00 to $82.00 and gave the company a “neutral” rating in a report on Monday, August 5th. Six analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $104.59.

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 provides its systems for use by people with diabetes, as well as for use by healthcare providers. Its products include Dexcom G6 and Dexcom G7, integrated CGM systems for diabetes management; Dexcom Share, a remote monitoring system; Dexcom Real-Time API, which enables authorized third-party software developers to integrate real-time CGM data into their digital health apps and devices; and Dexcom ONE, that is designed to replace finger stick blood glucose testing for diabetes treatment decisions.