Leerink Partnrs Has Positive Outlook of DexCom Q4 Earnings

DexCom, Inc. (NASDAQ:DXCM) – Equities researchers at Leerink Partnrs boosted their Q4 2024 earnings per share estimates for DexCom in a research report issued to clients and investors on Monday, November 25th. Leerink Partnrs analyst M. Kratky now forecasts that the medical device company will earn $0.49 per share for the quarter, up from their prior estimate of $0.48. The consensus estimate for DexCom’s current full-year earnings is $1.71 per share. Leerink Partnrs also issued estimates for DexCom’s FY2026 earnings at $2.43 EPS, FY2027 earnings at $2.72 EPS and FY2028 earnings at $3.06 EPS.

Several other research firms have also issued reports on DXCM. Piper Sandler reaffirmed an “overweight” rating and issued a $90.00 price objective on shares of DexCom in a research note on Monday, August 26th. Royal Bank of Canada lowered their price objective on DexCom from $120.00 to $115.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Leerink Partners lowered their price objective on DexCom from $90.00 to $87.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. JPMorgan Chase & Co. raised their price objective on DexCom from $75.00 to $85.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Finally, Oppenheimer lowered their price objective on DexCom from $115.00 to $105.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Seven 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’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $104.59.

DexCom Price Performance

Shares of DexCom stock opened at $78.10 on Tuesday. The stock has a 50 day moving average of $71.11 and a 200 day moving average of $88.51. DexCom has a 12 month low of $62.34 and a 12 month high of $142.00. The firm has a market cap of $30.51 billion, a PE ratio of 46.77, a PEG ratio of 2.38 and a beta of 1.17. The company has a current ratio of 2.46, a quick ratio of 2.12 and a debt-to-equity ratio of 1.23.

Insiders Place Their Bets

In other news, COO Jacob Steven Leach sold 746 shares of DexCom stock in a transaction on Monday, September 9th. The stock was sold at an average price of $69.15, for a total value of $51,585.90. Following the transaction, the chief operating officer now directly owns 264,915 shares in the company, valued at approximately $18,318,872.25. This trade represents a 0.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Sadie Stern sold 426 shares of DexCom stock in a transaction on Monday, September 9th. The shares were sold at an average price of $69.15, for a total value of $29,457.90. Following the completion of the transaction, the executive vice president now owns 75,451 shares in the company, valued at $5,217,436.65. This represents a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,431 shares of company stock worth $399,319 in the last ninety days. 0.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Taylor Frigon Capital Management LLC increased its holdings in shares of DexCom by 51.6% in the 3rd quarter. Taylor Frigon Capital Management LLC now owns 32,554 shares of the medical device company’s stock valued at $2,182,000 after acquiring an additional 11,075 shares during the period. Blue Whale Capital LLP grew its stake in DexCom by 91.9% during the 3rd quarter. Blue Whale Capital LLP now owns 236,000 shares of the medical device company’s stock worth $15,821,000 after buying an additional 113,000 shares during the last quarter. Brooktree Capital Management purchased a new position in DexCom during the 3rd quarter worth $683,000. National Pension Service grew its stake in DexCom by 4.1% during the 3rd quarter. National Pension Service now owns 949,743 shares of the medical device company’s stock worth $63,671,000 after buying an additional 37,363 shares during the last quarter. Finally, Intact Investment Management Inc. purchased a new position in DexCom during the 3rd quarter worth $650,000. 97.75% of the stock is currently owned by hedge funds and other institutional investors.

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.