DexCom (NASDAQ:DXCM) Posts Earnings Results, Beats Expectations By $0.05 EPS

DexCom (NASDAQ:DXCM) released its quarterly earnings data on Thursday. The medical device company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05, reports. DexCom had a return on equity of 31.38% and a net margin of 16.82%. The firm had revenue of $921.00 million during the quarter, compared to analyst estimates of $911.20 million. DexCom updated its FY 2024 guidance to EPS.

DexCom Price Performance

Shares of DXCM opened at $124.34 on Friday. The firm’s 50-day simple moving average is $131.13 and its two-hundred day simple moving average is $118.53. DexCom has a fifty-two week low of $74.75 and a fifty-two week high of $142.00. The stock has a market cap of $49.24 billion, a PE ratio of 80.22, a price-to-earnings-growth ratio of 2.14 and a beta of 1.20. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.48 and a current ratio of 2.84.

Insider Transactions at DexCom

In related news, COO Jacob Steven Leach sold 14,639 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $134.41, for a total transaction of $1,967,627.99. Following the completion of the transaction, the chief operating officer now owns 273,913 shares of the company’s stock, valued at approximately $36,816,646.33. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Matthew Vincent Dolan sold 1,990 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $137.81, for a total transaction of $274,241.90. Following the sale, the executive vice president now owns 42,377 shares in the company, valued at $5,839,974.37. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Jacob Steven Leach sold 14,639 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $134.41, for a total transaction of $1,967,627.99. Following the completion of the transaction, the chief operating officer now owns 273,913 shares of the company’s stock, valued at $36,816,646.33. The disclosure for this sale can be found here. Insiders have sold a total of 189,375 shares of company stock valued at $25,530,859 in the last ninety days. 0.41% of the stock is currently owned by corporate insiders.

Institutional Trading of DexCom

A number of institutional investors and hedge funds have recently modified their holdings of DXCM. SlateStone Wealth LLC purchased a new stake in shares of DexCom during the first quarter valued at $246,000. SYSTM Wealth Solutions LLC grew its stake in shares of DexCom by 6.2% in the first quarter. SYSTM Wealth Solutions LLC now owns 22,857 shares of the medical device company’s stock worth $3,170,000 after acquiring an additional 1,330 shares during the period. MONECO Advisors LLC purchased a new position in shares of DexCom during the first quarter valued at approximately $327,000. Lindbrook Capital LLC lifted its position in DexCom by 10.9% during the first quarter. Lindbrook Capital LLC now owns 1,755 shares of the medical device company’s stock valued at $243,000 after purchasing an additional 172 shares during the period. Finally, Center for Financial Planning Inc. boosted its holdings in DexCom by 382.5% in the first quarter. Center for Financial Planning Inc. now owns 1,930 shares of the medical device company’s stock worth $268,000 after purchasing an additional 1,530 shares during the last quarter. Institutional investors own 97.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. StockNews.com lowered shares of DexCom from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd. Canaccord Genuity Group upped their price objective on shares of DexCom from $144.00 to $145.00 and gave the company a “buy” rating in a research note on Friday. Citigroup raised their target price on DexCom from $148.00 to $161.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. UBS Group boosted their price target on DexCom from $153.00 to $163.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Finally, Raymond James increased their price objective on DexCom from $151.00 to $160.00 and gave the stock a “strong-buy” rating in a report on Friday. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, DexCom presently has an average rating of “Moderate Buy” and an average target price of $141.67.

DexCom Company Profile

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.