DexCom (NASDAQ:DXCM) Issues Quarterly Earnings Results, Beats Estimates By $0.04 EPS

DexCom (NASDAQ:DXCM) posted its quarterly earnings data on Thursday. The medical device company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.04, Briefing.com reports. DexCom had a net margin of 16.82% and a return on equity of 31.01%. The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the prior year, the company posted $0.34 EPS. The company’s quarterly 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 Down 40.7 %

Shares of DexCom stock traded down $43.85 on Friday, hitting $64.00. 53,844,273 shares of the company’s stock traded hands, compared to its average volume of 3,277,459. The stock has a market cap of $25.45 billion, a P/E ratio of 41.05, a PEG ratio of 2.74 and a beta of 1.16. The company has a quick ratio of 2.53, a current ratio of 2.90 and a debt-to-equity ratio of 1.08. The firm’s 50-day moving average is $116.63 and its 200 day moving average is $124.29. DexCom has a 52-week low of $62.34 and a 52-week high of $142.00.

Insider Activity

In other news, EVP Michael Jon Brown sold 629 shares of the stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $126.25, for a total transaction of $79,411.25. Following the completion of the transaction, the executive vice president now directly owns 68,212 shares in the company, valued at approximately $8,611,765. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CFO Jereme M. Sylvain sold 745 shares of the 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 $85,712.25. Following the completion of the transaction, the chief financial officer now directly owns 84,948 shares in the company, valued at approximately $9,773,267.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Michael Jon Brown sold 629 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $126.25, for a total value of $79,411.25. Following the sale, the executive vice president now directly owns 68,212 shares in the company, valued at $8,611,765. The disclosure for this sale can be found here. In the last three months, insiders sold 4,112 shares of company stock worth $480,861. 0.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on DXCM. Wells Fargo & Company dropped their price objective on shares of DexCom from $145.00 to $80.00 and set an “overweight” rating for the company in a research note on Friday. Citigroup upped their price objective on shares of DexCom from $148.00 to $161.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Stifel Nicolaus dropped their price objective on shares of DexCom from $132.00 to $90.00 and set a “buy” rating for the company in a research note on Friday. StockNews.com downgraded shares of DexCom from a “buy” rating to a “hold” rating in a research note on Monday, June 10th. Finally, Redburn Atlantic initiated coverage on shares of DexCom in a research note on Thursday, May 30th. They set a “neutral” rating and a $130.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, DexCom currently has an average rating of “Moderate Buy” and a consensus target price of $113.06.

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.