DexCom (NASDAQ:DXCM) Issues Quarterly Earnings Results

DexCom (NASDAQ:DXCM) issued its earnings results on Thursday. The medical device company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.39 by $0.04, Briefing.com reports. DexCom had a return on equity of 31.01% and a net margin of 16.82%. The business had revenue of $1 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter last year, the firm posted $0.34 earnings per share. DexCom’s revenue was up 15.3% compared to the same quarter last year. DexCom updated its Q3 2024 guidance to EPS and its FY 2024 guidance to EPS.

DexCom Stock Performance

Shares of NASDAQ:DXCM traded down $43.85 during midday trading on Friday, hitting $64.00. The company’s stock had a trading volume of 53,844,273 shares, compared to its average volume of 3,277,459. The company has a debt-to-equity ratio of 1.08, a quick ratio of 2.53 and a current ratio of 2.90. The stock’s 50 day simple moving average is $116.63 and its 200 day simple moving average is $124.29. The stock has a market capitalization of $25.45 billion, a price-to-earnings ratio of 41.05, a PEG ratio of 2.74 and a beta of 1.16. DexCom has a fifty-two week low of $62.34 and a fifty-two week high of $142.00.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Citigroup raised their price objective on DexCom from $148.00 to $161.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Robert W. Baird cut shares of DexCom from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $161.00 to $80.00 in a report on Friday. JPMorgan Chase & Co. lowered shares of DexCom from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $145.00 to $75.00 in a research note on Friday. UBS Group lowered their target price on DexCom from $163.00 to $95.00 and set a “buy” rating on the stock in a research note on Friday. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $145.00 target price on shares of DexCom in a research report on Tuesday. Six equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $113.06.

Insider Buying and Selling

In other news, EVP Michael Jon Brown sold 652 shares of the company’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $119.24, for a total transaction of $77,744.48. Following the completion of the transaction, the executive vice president now owns 67,560 shares of the company’s stock, valued at $8,055,854.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Sadie Stern sold 427 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $115.05, for a total transaction of $49,126.35. Following the completion of the transaction, the executive vice president now owns 75,877 shares in the company, valued at approximately $8,729,648.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Michael Jon Brown sold 652 shares of the business’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $119.24, for a total value of $77,744.48. Following the completion of the sale, the executive vice president now directly owns 67,560 shares in the company, valued at approximately $8,055,854.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,112 shares of company stock valued at $480,861. Insiders own 0.30% 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 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.