DexCom (NASDAQ:DXCM) Announces Quarterly Earnings Results

DexCom (NASDAQ:DXCM) announced its quarterly earnings data on Thursday. The medical device company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.04, Briefing.com reports. The firm had revenue of $1 billion for the quarter, compared to analyst estimates of $1.04 billion. DexCom had a net margin of 16.95% and a return on equity of 32.27%. The business’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.34 earnings per share. DexCom updated its Q3 2024 guidance to EPS and its FY 2024 guidance to EPS.

DexCom Price Performance

DXCM traded down $43.85 on Friday, reaching $64.00. The company had a trading volume of 53,914,127 shares, compared to its average volume of 2,657,874. The company has a debt-to-equity ratio of 1.08, a quick ratio of 2.53 and a current ratio of 2.90. DexCom has a 52-week low of $62.34 and a 52-week high of $142.00. The company has a market cap of $25.45 billion, a price-to-earnings ratio of 41.29, a P/E/G ratio of 2.64 and a beta of 1.16. The business has a 50 day simple moving average of $115.28 and a 200 day simple moving average of $123.83.

Insider Transactions at DexCom

In other DexCom news, EVP Michael Jon Brown sold 629 shares of DexCom stock in a transaction dated 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 sale, the executive vice president now owns 68,212 shares of the company’s stock, valued at $8,611,765. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Michael Jon Brown sold 629 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president now owns 68,212 shares of the company’s stock, valued at approximately $8,611,765. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bridgette P. Heller sold 1,000 shares of the business’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $113.55, for a total transaction of $113,550.00. Following the completion of the sale, the director now directly owns 25,349 shares of the company’s stock, valued at $2,878,378.95. The disclosure for this sale can be found here. Insiders have sold 4,112 shares of company stock valued at $480,861 in the last quarter. Insiders own 0.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on DXCM shares. Robert W. Baird cut DexCom from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $161.00 to $80.00 in a research note on Friday. JPMorgan Chase & Co. lowered DexCom from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $145.00 to $75.00 in a report on Friday. Piper Sandler lowered their price objective on DexCom from $150.00 to $90.00 and set an “overweight” rating for the company in a research note on Friday. Wells Fargo & Company cut their target price on DexCom from $145.00 to $80.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, StockNews.com cut DexCom from a “buy” rating to a “hold” rating in a research report on Monday, June 10th. Seven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average 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.