DexCom (NASDAQ:DXCM) Stock Price Expected to Rise, Mizuho Analyst Says

DexCom (NASDAQ:DXCM) had its target price upped by equities researchers at Mizuho from $95.00 to $100.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the medical device company’s stock. Mizuho’s price target would indicate a potential upside of 18.91% from the stock’s current price.

A number of other equities analysts have also commented on DXCM. Wall Street Zen lowered shares of DexCom from a “buy” rating to a “hold” rating in a report on Sunday, June 29th. Citigroup reaffirmed a “buy” rating and set a $102.00 target price (up from $82.00) on shares of DexCom in a report on Thursday, May 22nd. Morgan Stanley increased their price target on DexCom from $82.00 to $89.00 and gave the company an “equal weight” rating in a research note on Tuesday. Truist Financial initiated coverage on DexCom in a research note on Monday, June 16th. They issued a “buy” rating and a $102.00 price objective on the stock. Finally, Cfra Research raised shares of DexCom to a “hold” rating in a research report on Friday, March 21st. Five equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, DexCom has an average rating of “Moderate Buy” and an average price target of $99.60.

DexCom Trading Down 0.0%

Shares of NASDAQ:DXCM opened at $84.10 on Wednesday. The company’s 50-day moving average price is $84.51 and its two-hundred day moving average price is $80.13. DexCom has a one year low of $57.52 and a one year high of $116.35. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.50 and a quick ratio of 1.32. The stock has a market capitalization of $32.98 billion, a PE ratio of 62.76, a price-to-earnings-growth ratio of 1.79 and a beta of 1.44.

DexCom (NASDAQ:DXCM) last posted its quarterly earnings results on Thursday, May 1st. The medical device company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01). The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.02 billion. DexCom had a return on equity of 30.05% and a net margin of 12.90%. The company’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.32 EPS. On average, equities analysts forecast that DexCom will post 2.03 EPS for the current fiscal year.

Insider Activity at DexCom

In other news, EVP Sadie Stern sold 6,184 shares of DexCom stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $85.11, for a total value of $526,320.24. Following the transaction, the executive vice president owned 109,621 shares of the company’s stock, valued at $9,329,843.31. The trade was a 5.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Nicholas Augustinos sold 3,672 shares of the company’s stock in a transaction on Monday, June 16th. The stock was sold at an average price of $82.80, for a total value of $304,041.60. Following the transaction, the director directly owned 33,411 shares in the company, valued at approximately $2,766,430.80. The trade was a 9.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,190 shares of company stock valued at $2,281,732. Company insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On DexCom

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Golden State Wealth Management LLC lifted its stake in DexCom by 211.2% during the 1st quarter. Golden State Wealth Management LLC now owns 389 shares of the medical device company’s stock valued at $27,000 after acquiring an additional 264 shares during the period. Zions Bancorporation National Association UT purchased a new position in shares of DexCom during the first quarter worth $27,000. Optiver Holding B.V. acquired a new position in DexCom during the fourth quarter valued at $33,000. TD Private Client Wealth LLC boosted its holdings in DexCom by 62.8% in the fourth quarter. TD Private Client Wealth LLC now owns 433 shares of the medical device company’s stock valued at $34,000 after purchasing an additional 167 shares during the last quarter. Finally, Anderson Financial Strategies LLC acquired a new stake in DexCom during the 1st quarter worth about $37,000. 97.75% of the stock is currently owned by institutional investors and hedge funds.

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.