DexCom (NASDAQ:DXCM) Price Target Raised to $84.00

DexCom (NASDAQ:DXCM) had its price objective increased by Citigroup from $77.00 to $84.00 in a report published on Wednesday morning,Benzinga reports. Citigroup currently has a buy rating on the medical device company’s stock.

A number of other research analysts also recently issued reports on DXCM. Leerink Partners reiterated an “outperform” rating and set a $92.00 price objective on shares of DexCom in a research note on Tuesday, December 16th. Evercore initiated coverage on shares of DexCom in a research note on Tuesday, November 25th. They set an “in-line” rating and a $68.00 target price on the stock. Morgan Stanley reaffirmed an “overweight” rating on shares of DexCom in a report on Monday, January 12th. Canaccord Genuity Group set a $95.00 price target on shares of DexCom and gave the stock a “buy” rating in a research report on Friday, February 13th. Finally, Weiss Ratings raised shares of DexCom from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, March 4th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $85.50.

DexCom Trading Down 1.6%

NASDAQ:DXCM opened at $64.24 on Wednesday. DexCom has a one year low of $54.11 and a one year high of $89.98. The business has a fifty day moving average price of $70.66 and a 200-day moving average price of $68.45. The firm has a market capitalization of $24.72 billion, a price-to-earnings ratio of 30.59, a price-to-earnings-growth ratio of 1.27 and a beta of 1.48. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.88 and a quick ratio of 1.59.

DexCom (NASDAQ:DXCM) last released 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 the consensus estimate of $1.25 billion. DexCom had a return on equity of 32.12% and a net margin of 17.94%.DexCom’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.45 earnings per share. Sell-side analysts forecast that DexCom will post 2.03 EPS for the current year.

Hedge Funds Weigh In On DexCom

Several institutional investors have recently added to or reduced their stakes in DXCM. Vanguard Group Inc. raised its holdings in shares of DexCom by 2.3% during 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 acquiring an additional 1,133,638 shares in the last quarter. Geode Capital Management LLC grew 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 valued at $727,842,000 after purchasing an additional 42,411 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings 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 purchasing an additional 516,526 shares in the last quarter. Norges Bank bought a new stake in DexCom in the fourth quarter worth $483,356,000. Finally, Massachusetts Financial Services Co. MA increased its position in DexCom by 106.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 6,605,687 shares of the medical device company’s stock worth $576,610,000 after purchasing an additional 3,410,858 shares during the last quarter. Hedge funds and other 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.