DexCom (NASDAQ:DXCM) Given New $90.00 Price Target at Mizuho

DexCom (NASDAQ:DXCM) had its price target increased by Mizuho from $85.00 to $90.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the medical device company’s stock. Mizuho’s price objective would suggest a potential upside of 22.64% from the stock’s current price.

Several other research analysts also recently issued reports on the company. Piper Sandler reaffirmed an “overweight” rating and set a $88.00 price target (up from $75.00) on shares of DexCom in a research note on Monday, June 15th. Bank of America lowered their price objective on shares of DexCom from $100.00 to $80.00 and set a “buy” rating on the stock in a research note on Monday, May 18th. TD Cowen restated a “buy” rating and set a $95.00 target price (up from $75.00) on shares of DexCom in a report on Wednesday, June 10th. William Blair upgraded shares of DexCom to a “strong-buy” rating in a research report on Friday, May 15th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of DexCom in a report on Tuesday, June 23rd. They issued a “buy” rating and a $86.00 price target on the stock. Two investment 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 issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $85.08.

DexCom Price Performance

DXCM traded down $0.73 on Wednesday, hitting $73.39. 1,191,710 shares of the company were exchanged, compared to its average volume of 5,253,183. DexCom has a fifty-two week low of $54.11 and a fifty-two week high of $89.98. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.64 and a current ratio of 1.95. The firm has a market capitalization of $28.32 billion, a P/E ratio of 31.63, a price-to-earnings-growth ratio of 1.26 and a beta of 1.45. The business’s fifty day moving average is $70.25 and its 200 day moving average is $68.56.

DexCom (NASDAQ:DXCM) last posted its quarterly earnings results on Thursday, April 30th. The medical device company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.09. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.17 billion. DexCom had a net margin of 19.31% and a return on equity of 33.33%. The company’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same period last year, the firm earned $0.32 EPS. As a group, sell-side analysts anticipate that DexCom will post 2.57 EPS for the current year.

Insider Transactions at DexCom

In related news, Director Mark G. Foletta sold 4,000 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $74.13, for a total value of $296,520.00. Following the completion of the transaction, the director owned 52,852 shares of the company’s stock, valued at approximately $3,917,918.76. The trade was a 7.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kevin R. Sayer sold 26,759 shares of the company’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $72.00, for a total transaction of $1,926,648.00. Following the completion of the transaction, the insider owned 382,482 shares in the company, valued at approximately $27,538,704. This trade represents a 6.54% 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. Insiders have sold a total of 71,750 shares of company stock worth $5,163,241 in the last ninety days. Company insiders own 0.28% of the company’s stock.

Institutional Trading of DexCom

A number of hedge funds have recently bought and sold shares of the company. Norges Bank purchased a new stake in DexCom during the 4th quarter worth approximately $483,356,000. AQR Capital Management LLC boosted its stake in shares of DexCom by 597.8% during the 4th quarter. AQR Capital Management LLC now owns 3,102,789 shares of the medical device company’s stock valued at $205,932,000 after buying an additional 2,658,158 shares during the last quarter. CIBC Private Wealth Group LLC boosted its stake in shares of DexCom by 374.3% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,907,801 shares of the medical device company’s stock valued at $195,666,000 after buying an additional 2,294,709 shares during the last quarter. Employees Provident Fund Board acquired a new stake in shares of DexCom during the fourth quarter worth approximately $145,352,000. Finally, J. Stern & Co. LLP grew its position in shares of DexCom by 2,114.8% during the fourth quarter. J. Stern & Co. LLP now owns 1,601,973 shares of the medical device company’s stock worth $106,323,000 after buying an additional 1,529,641 shares in the last quarter. Institutional investors and hedge funds 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.