Mizuho Raises DexCom (NASDAQ:DXCM) Price Target to $100.00

DexCom (NASDAQ:DXCM) had its target price raised by Mizuho from $95.00 to $100.00 in a report issued on Wednesday morning,Benzinga reports. The brokerage currently has an outperform rating on the medical device company’s stock.

DXCM has been the subject of a number of other research reports. The Goldman Sachs Group assumed coverage on DexCom in a research report on Friday, May 30th. They set a “buy” rating and a $104.00 price objective for the company. Wall Street Zen cut DexCom from a “buy” rating to a “hold” rating in a research report on Sunday, June 29th. Robert W. Baird reduced their price objective on DexCom from $115.00 to $105.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. Barclays upped their price objective on DexCom from $90.00 to $93.00 and gave the company an “equal weight” rating in a research report on Monday, May 5th. Finally, Piper Sandler reduced their price objective on DexCom from $100.00 to $90.00 and set an “overweight” rating for the company in a research report on Friday, May 2nd. Four equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $99.60.

DexCom Trading Down 0.2%

Shares of NASDAQ:DXCM opened at $83.89 on Wednesday. The company has a market cap of $32.89 billion, a P/E ratio of 62.60, a PEG ratio of 1.79 and a beta of 1.44. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.50 and a quick ratio of 1.32. DexCom has a 1 year low of $57.52 and a 1 year high of $113.28. The stock’s fifty day moving average price is $84.49 and its 200-day moving average price is $80.17.

DexCom (NASDAQ:DXCM) last posted its quarterly earnings data 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 firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.02 billion. DexCom had a net margin of 12.90% and a return on equity of 30.05%. The firm’s revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.32 EPS. Sell-side analysts expect that DexCom will post 2.03 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Mark G. Foletta sold 2,750 shares of the company’s stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $83.13, for a total value of $228,607.50. Following the completion of the transaction, the director owned 56,621 shares of the company’s stock, valued at $4,706,903.73. This represents a 4.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Sadie Stern sold 6,184 shares of the company’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $85.11, for a total value of $526,320.24. Following the completion of the transaction, the executive vice president directly owned 109,621 shares of the company’s stock, valued at approximately $9,329,843.31. This trade represents a 5.34% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,190 shares of company stock worth $2,281,732. 0.32% of the stock is currently owned by insiders.

Hedge Funds Weigh In On DexCom

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in DexCom by 2.0% during the first quarter. Vanguard Group Inc. now owns 47,455,899 shares of the medical device company’s stock valued at $3,240,763,000 after buying an additional 925,882 shares during the last quarter. Jennison Associates LLC boosted its stake in DexCom by 37.7% during the first quarter. Jennison Associates LLC now owns 10,523,246 shares of the medical device company’s stock valued at $718,632,000 after buying an additional 2,879,489 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in DexCom by 22.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 10,123,525 shares of the medical device company’s stock valued at $691,336,000 after buying an additional 1,868,241 shares during the last quarter. Geode Capital Management LLC boosted its stake in DexCom by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 9,993,698 shares of the medical device company’s stock valued at $775,256,000 after buying an additional 56,094 shares during the last quarter. Finally, Nuveen LLC bought a new position in DexCom during the first quarter valued at approximately $554,893,000. Institutional investors own 97.75% of the company’s stock.

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.