DexCom (NASDAQ:DXCM) Receives “Buy” Rating from BTIG Research

BTIG Research restated their buy rating on shares of DexCom (NASDAQ:DXCM) in a research report report published on Wednesday,Benzinga reports. BTIG Research currently has a $85.00 price objective on the medical device company’s stock.

DXCM has been the topic of several other research reports. Leerink Partners reissued an “outperform” rating and issued a $92.00 price target on shares of DexCom in a report on Tuesday, December 16th. Mizuho lifted their target price on shares of DexCom from $78.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday, February 13th. Morgan Stanley reissued an “overweight” rating on shares of DexCom in a research note on Monday, January 12th. Truist Financial restated a “buy” rating and set a $80.00 price target (down from $82.00) on shares of DexCom in a research note on Tuesday, February 17th. Finally, TD Cowen decreased their price objective on DexCom from $100.00 to $84.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, DexCom has an average rating of “Moderate Buy” and an average target price of $85.18.

DexCom Trading Up 0.1%

DexCom stock opened at $73.19 on Wednesday. The business has a 50 day moving average price of $69.92 and a two-hundred day moving average price of $69.22. The company has a quick ratio of 1.59, a current ratio of 1.88 and a debt-to-equity ratio of 0.45. The stock has a market cap of $28.17 billion, a price-to-earnings ratio of 34.85, a price-to-earnings-growth ratio of 1.42 and a beta of 1.49. DexCom has a 12 month low of $54.11 and a 12 month high of $90.66.

DexCom (NASDAQ:DXCM) last announced its quarterly earnings data on Thursday, February 12th. The medical device company reported $0.68 earnings per share for the quarter, topping 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 for the quarter was up 13.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.45 EPS. As a group, equities analysts forecast that DexCom will post 2.03 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Pacer Advisors Inc. grew its position in DexCom by 1,534.5% during the 4th quarter. Pacer Advisors Inc. now owns 982,779 shares of the medical device company’s stock worth $65,227,000 after acquiring an additional 922,650 shares during the last quarter. Kera Capital Partners Inc. acquired a new position in DexCom in the fourth quarter worth $294,000. McLaughlin Asset Management Inc. bought a new stake in shares of DexCom during the fourth quarter worth $239,000. T. Rowe Price Investment Management Inc. grew its holdings in shares of DexCom by 25.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,687 shares of the medical device company’s stock worth $179,000 after purchasing an additional 538 shares during the last quarter. Finally, Invesco Ltd. increased its stake in shares of DexCom by 14.8% in the fourth quarter. Invesco Ltd. now owns 5,315,367 shares of the medical device company’s stock valued at $352,781,000 after buying an additional 686,228 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.