Zacks Research Equities Analysts Increase Earnings Estimates for DexCom, Inc. (NASDAQ:DXCM)

Posted by Defense World Staff on Jun 24th, 2023

DexCom, Inc. (NASDAQ:DXCM – Get Rating) – Zacks Research increased their FY2023 earnings per share estimates for shares of DexCom in a report issued on Wednesday, June 21st. Zacks Research analyst I. Bandyopadhyay now forecasts that the medical device company will post earnings of $1.03 per share for the year, up from their previous forecast of $1.01. The consensus estimate for DexCom’s current full-year earnings is $1.06 per share. Zacks Research also issued estimates for DexCom’s Q4 2023 earnings at $0.35 EPS, Q2 2024 earnings at $0.33 EPS, Q3 2024 earnings at $0.41 EPS, Q4 2024 earnings at $0.43 EPS and FY2024 earnings at $1.41 EPS.

DexCom (NASDAQ:DXCM – Get Rating) last issued its quarterly earnings results on Thursday, April 27th. The medical device company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.02. The firm had revenue of $7.45 billion for the quarter, compared to analysts’ expectations of $720.52 million. DexCom had a return on equity of 18.29% and a net margin of 9.68%. The firm’s revenue for the quarter was up 1085.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.08 EPS.

A number of other equities research analysts have also weighed in on the company. TheStreet lowered DexCom from a “b-” rating to a “c+” rating in a report on Thursday, May 25th. Barclays lifted their price objective on DexCom from $110.00 to $115.00 in a report on Monday, May 1st. UBS Group lifted their price objective on DexCom from $142.00 to $150.00 in a report on Friday, April 28th. Raymond James lifted their price objective on DexCom from $138.00 to $140.00 in a report on Friday, April 28th. Finally, BTIG Research lifted their price objective on DexCom from $132.00 to $134.00 in a report on Friday, April 28th. Two 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 company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $126.81.

DexCom Stock Performance

Shares of DXCM stock opened at $126.75 on Friday. The stock has a market capitalization of $49.13 billion, a PE ratio of 181.07, a price-to-earnings-growth ratio of 3.03 and a beta of 1.15. DexCom has a 52-week low of $72.41 and a 52-week high of $134.14. The stock’s 50-day moving average price is $121.65 and its 200 day moving average price is $115.88. The company has a quick ratio of 1.82, a current ratio of 2.02 and a debt-to-equity ratio of 0.54.

Insider Activity at DexCom

In related news, SVP Shelly Ramasamy Selvaraj sold 2,115 shares of the company’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $130.00, for a total value of $274,950.00. Following the sale, the senior vice president now owns 50,390 shares of the company’s stock, valued at approximately $6,550,700. The transaction was disclosed in a filing with the SEC, which is available through this link. In other DexCom news, SVP Shelly Ramasamy Selvaraj sold 2,115 shares of the business’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $130.00, for a total value of $274,950.00. Following the completion of the transaction, the senior vice president now directly owns 50,390 shares in the company, valued at approximately $6,550,700. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Sadie Stern sold 393 shares of the business’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $121.31, for a total value of $47,674.83. Following the completion of the transaction, the executive vice president now owns 82,466 shares of the company’s stock, valued at $10,003,950.46. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 71,525 shares of company stock valued at $8,656,101. 0.41% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of DXCM. Mirae Asset Global Investments Co. Ltd. raised its holdings in DexCom by 31.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 270,999 shares of the medical device company’s stock valued at $138,643,000 after acquiring an additional 65,516 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of DexCom by 3,596.7% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,109 shares of the medical device company’s stock worth $567,000 after buying an additional 1,079 shares during the last quarter. West Family Investments Inc. acquired a new stake in shares of DexCom during the 1st quarter worth $209,000. Ergoteles LLC increased its holdings in shares of DexCom by 60.6% during the 1st quarter. Ergoteles LLC now owns 1,681 shares of the medical device company’s stock worth $860,000 after buying an additional 634 shares during the last quarter. Finally, Mackenzie Financial Corp increased its holdings in shares of DexCom by 26.4% during the 1st quarter. Mackenzie Financial Corp now owns 29,516 shares of the medical device company’s stock worth $15,100,000 after buying an additional 6,160 shares during the last quarter. 93.97% of the stock is currently owned by institutional investors and hedge funds.

About DexCom

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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 for specific and permitted use cases, including non-medical device applications, medical device data analysis, integrated continuous glucose monitoring systems (iCGM) secondary display alarms, active patient monitoring, and treatment decisions; and Dexcom ONE, that is designed to replace finger stick blood glucose testing for diabetes treatment decisions.