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

DexCom (NASDAQ:DXCM) had its target price upped by analysts at Mizuho from $85.00 to $90.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the medical device company’s stock. Mizuho’s price objective suggests a potential upside of 15.41% from the company’s previous close.

Several other equities research analysts also recently issued reports on DXCM. Robert W. Baird set a $80.00 price target on shares of DexCom in a research note on Friday, May 1st. Sanford C. Bernstein set a $77.00 price objective on shares of DexCom in a research report on Friday, May 1st. Citigroup restated a “buy” rating and set a $84.00 target price (up from $79.00) on shares of DexCom in a research note on Thursday, May 28th. Evercore raised DexCom from an “in-line” rating to an “outperform” rating and set a $90.00 target price on the stock in a research report on Tuesday, March 24th. Finally, Raymond James Financial reiterated a “strong-buy” rating and issued a $91.00 price target on shares of DexCom in a research note on Monday, June 8th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $85.36.

DexCom Stock Up 7.2%

Shares of NASDAQ:DXCM opened at $77.98 on Wednesday. The company has a market capitalization of $30.09 billion, a price-to-earnings ratio of 33.32, a price-to-earnings-growth ratio of 1.20 and a beta of 1.45. The company has a 50 day moving average of $70.83 and a two-hundred day moving average of $68.67. DexCom has a 52-week low of $54.11 and a 52-week high of $89.98. The company has a quick ratio of 1.64, a current ratio of 1.95 and a debt-to-equity ratio of 0.42.

DexCom (NASDAQ:DXCM) last posted its earnings results on Thursday, April 30th. The medical device company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.09. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.17 billion. DexCom had a net margin of 19.31% and a return on equity of 33.33%. The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.32 earnings per share. As a group, analysts forecast that DexCom will post 2.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other DexCom news, EVP Michael Jon Brown sold 1,700 shares of the firm’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $75.55, for a total transaction of $128,435.00. Following the completion of the transaction, the executive vice president directly owned 106,353 shares of the company’s stock, valued at $8,034,969.15. This trade represents a 1.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark G. Foletta sold 4,000 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $74.13, for a total transaction of $296,520.00. Following the transaction, the director directly owned 52,852 shares of the company’s stock, valued at approximately $3,917,918.76. This represents a 7.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 71,750 shares of company stock valued at $5,163,241. 0.28% of the stock is owned by insiders.

Hedge Funds Weigh In On DexCom

Several large investors have recently modified their holdings of the stock. Reflection Asset Management bought a new stake in DexCom in the fourth quarter valued at about $25,000. Ascentis Independent Advisors acquired a new stake in DexCom during the first quarter valued at approximately $25,000. CVA Family Office LLC lifted its holdings in DexCom by 48.5% during the 4th quarter. CVA Family Office LLC now owns 450 shares of the medical device company’s stock worth $30,000 after buying an additional 147 shares during the last quarter. MCF Advisors LLC bought a new position in DexCom during the 4th quarter worth approximately $32,000. Finally, ORG Partners LLC grew its position in shares of DexCom by 124.3% in the 4th quarter. ORG Partners LLC now owns 507 shares of the medical device company’s stock worth $34,000 after acquiring an additional 281 shares in the last quarter. Institutional investors own 97.75% of the company’s stock.

About DexCom

DexCom, Inc is a medical device company that develops, manufactures and distributes continuous glucose monitoring (CGM) systems for people with diabetes. Its products are designed to provide near real-time glucose readings, trend information and alerts to help patients and clinicians manage insulin dosing and reduce hypoglycemia and hyperglycemia. The company’s offerings combine wearable glucose sensors, wireless transmitters and software applications that deliver data to smartphones, dedicated receivers and cloud-based platforms for remote monitoring.

Founded in 1999 and headquartered in San Diego, California, DexCom has focused its business on advancing CGM technology and expanding clinical use beyond traditional insulin-dependent populations.