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

DexCom (NASDAQ:DXCM) had its price objective increased by investment analysts at Citigroup from $77.00 to $84.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the medical device company’s stock. Citigroup’s price target suggests a potential upside of 28.72% from the stock’s current price.

DXCM has been the subject of several other reports. Sanford C. Bernstein restated an “outperform” rating and set a $86.00 target price (up from $84.00) on shares of DexCom in a report on Friday, January 9th. Morgan Stanley reaffirmed an “overweight” rating on shares of DexCom in a report on Monday, January 12th. Robert W. Baird set a $87.00 price target on shares of DexCom in a research report on Friday, February 13th. Evercore assumed coverage on shares of DexCom in a research note on Tuesday, November 25th. They set an “in-line” rating and a $68.00 price objective for the company. Finally, Leerink Partners restated an “outperform” rating and set a $92.00 price objective on shares of DexCom in a research report on Tuesday, December 16th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, DexCom presently has a consensus rating of “Moderate Buy” and an average price target of $85.50.

DexCom Stock Performance

Shares of DXCM stock opened at $65.26 on Wednesday. The stock has a fifty day moving average price of $70.71 and a 200 day moving average price of $68.53. 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 stock has a market cap of $25.12 billion, a PE ratio of 31.08, a P/E/G ratio of 1.29 and a beta of 1.48. DexCom has a 1 year low of $54.11 and a 1 year high of $89.98.

DexCom (NASDAQ:DXCM) last posted its earnings results on Thursday, February 12th. The medical device company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.03. The company had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.25 billion. DexCom had a return on equity of 32.12% and a net margin of 17.94%.DexCom’s revenue was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.45 earnings per share. Sell-side analysts forecast that DexCom will post 2.03 earnings per share for the current fiscal year.

Institutional Trading of DexCom

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Marshall Wace LLP boosted its stake in DexCom by 260.7% in the 2nd quarter. Marshall Wace LLP now owns 3,822,085 shares of the medical device company’s stock worth $333,630,000 after buying an additional 2,762,504 shares during the last quarter. E. Ohman J or Asset Management AB increased its stake in shares of DexCom by 400.2% during the 3rd quarter. E. Ohman J or Asset Management AB now owns 77,492 shares of the medical device company’s stock valued at $5,214,000 after acquiring an additional 62,000 shares during the last quarter. Zevenbergen Capital Investments LLC increased its stake in shares of DexCom by 10.0% during the 3rd quarter. Zevenbergen Capital Investments LLC now owns 685,433 shares of the medical device company’s stock valued at $46,123,000 after acquiring an additional 62,098 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of DexCom by 11.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 212,045 shares of the medical device company’s stock worth $14,269,000 after acquiring an additional 21,352 shares during the period. Finally, NEOS Investment Management LLC boosted its position in shares of DexCom by 58.7% in the third quarter. NEOS Investment Management LLC now owns 175,982 shares of the medical device company’s stock worth $11,842,000 after acquiring an additional 65,066 shares during the last quarter. 97.75% of the stock is owned by hedge funds and other institutional investors.

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.