BTIG Research Reaffirms Buy Rating for DexCom (NASDAQ:DXCM)

DexCom (NASDAQ:DXCM)‘s stock had its “buy” rating reaffirmed by analysts at BTIG Research in a research report issued on Wednesday,Benzinga reports. They currently have a $85.00 price objective on the medical device company’s stock. BTIG Research’s target price would indicate a potential upside of 14.28% from the stock’s current price.

A number of other equities analysts also recently issued reports on the stock. Leerink Partners reaffirmed an “outperform” rating and set a $92.00 price objective on shares of DexCom in a report on Tuesday, December 16th. Wall Street Zen cut shares of DexCom from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 16th. Weiss Ratings downgraded shares of DexCom from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, February 18th. Morgan Stanley restated an “overweight” rating on shares of DexCom in a research note on Monday, January 12th. Finally, Robert W. Baird set a $87.00 target price on DexCom in a report on Friday, February 13th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $85.18.

DexCom Price Performance

Shares of NASDAQ DXCM opened at $74.38 on Wednesday. DexCom has a fifty-two week low of $54.11 and a fifty-two week high of $90.00. The stock has a market cap of $28.63 billion, a price-to-earnings ratio of 35.42, a PEG ratio of 1.42 and a beta of 1.49. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.59 and a current ratio of 1.88. The firm’s 50-day simple moving average is $70.09 and its 200 day simple moving average is $69.26.

DexCom (NASDAQ:DXCM) last issued its quarterly earnings data on Thursday, February 12th. The medical device company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.03. DexCom had a return on equity of 32.12% and a net margin of 17.94%.The firm had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same period in the previous year, the company posted $0.45 EPS. The company’s revenue for the quarter was up 13.1% on a year-over-year basis. As a group, research analysts anticipate that DexCom will post 2.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On DexCom

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in DexCom by 2.3% in the 3rd quarter. Vanguard Group Inc. now owns 49,456,043 shares of the medical device company’s stock worth $3,327,897,000 after purchasing an additional 1,133,638 shares during the period. Jennison Associates LLC increased its position in shares of DexCom by 9.4% during the second quarter. Jennison Associates LLC now owns 11,517,546 shares of the medical device company’s stock valued at $1,005,367,000 after buying an additional 994,300 shares during the period. Geode Capital Management LLC lifted its holdings in shares of DexCom by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 11,006,183 shares of the medical device company’s stock worth $727,842,000 after buying an additional 42,411 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of DexCom by 6.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,999,057 shares of the medical device company’s stock valued at $530,897,000 after acquiring an additional 516,526 shares during the period. Finally, Norges Bank bought a new position in shares of DexCom in the fourth quarter valued at approximately $483,356,000. Institutional investors own 97.75% of the company’s stock.

DexCom Company Profile

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.