DexCom (NASDAQ:DXCM) Price Target Raised to $90.00 at Mizuho

DexCom (NASDAQ:DXCM) had its price objective boosted by investment analysts at Mizuho from $85.00 to $90.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the medical device company’s stock. Mizuho’s price target suggests a potential upside of 22.64% from the stock’s previous close.

DXCM has been the topic of a number of other research reports. Benchmark reaffirmed a “buy” rating on shares of DexCom in a report on Tuesday, June 23rd. William Blair upgraded DexCom to a “strong-buy” rating in a report on Friday, May 15th. Barclays reissued an “underweight” rating and set a $64.00 price target (down from $67.00) on shares of DexCom in a research report on Monday, May 18th. Evercore upgraded DexCom from an “in-line” rating to an “outperform” rating and set a $90.00 price objective on the stock in a research note on Tuesday, March 24th. Finally, Robert W. Baird set a $80.00 target price on shares of DexCom in a research note on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, DexCom presently has an average rating of “Moderate Buy” and an average price target of $85.08.

DexCom Stock Down 1.0%

Shares of DexCom stock traded down $0.73 during trading on Wednesday, reaching $73.39. The company had a trading volume of 1,191,710 shares, compared to its average volume of 5,253,183. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.64 and a current ratio of 1.95. DexCom has a fifty-two week low of $54.11 and a fifty-two week high of $89.98. The firm’s fifty day moving average is $70.25 and its 200-day moving average is $68.56. The company has a market cap of $28.32 billion, a price-to-earnings ratio of 31.63, a price-to-earnings-growth ratio of 1.26 and a beta of 1.45.

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

Insider Buying and Selling

In related news, Director Bridgette P. Heller sold 1,012 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $60.01, for a total value of $60,730.12. Following the completion of the transaction, the director directly owned 25,007 shares of the company’s stock, valued at $1,500,670.07. This represents a 3.89% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Jon Brown sold 1,700 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $75.55, for a total value of $128,435.00. Following the completion of the sale, the executive vice president owned 106,353 shares in the company, valued at approximately $8,034,969.15. This represents a 1.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 71,750 shares of company stock valued at $5,163,241 in the last ninety days. Insiders own 0.28% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Gradient Investments LLC raised its position in DexCom by 13.8% during the fourth quarter. Gradient Investments LLC now owns 332,006 shares of the medical device company’s stock valued at $22,035,000 after acquiring an additional 40,343 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of DexCom by 118.6% during the 4th quarter. Nordea Investment Management AB now owns 254,315 shares of the medical device company’s stock worth $16,988,000 after purchasing an additional 137,986 shares during the last quarter. Banque Pictet & Cie SA raised its holdings in shares of DexCom by 58.2% during the 4th quarter. Banque Pictet & Cie SA now owns 109,823 shares of the medical device company’s stock valued at $7,289,000 after purchasing an additional 40,411 shares in the last quarter. Aberdeen Group plc raised its holdings in shares of DexCom by 9.0% during the 4th quarter. Aberdeen Group plc now owns 530,363 shares of the medical device company’s stock valued at $35,200,000 after purchasing an additional 43,990 shares in the last quarter. Finally, Union Bancaire Privee UBP SA lifted its stake in shares of DexCom by 289.2% in the 4th quarter. Union Bancaire Privee UBP SA now owns 21,266 shares of the medical device company’s stock valued at $1,411,000 after purchasing an additional 15,802 shares during the last quarter. Institutional investors and hedge funds 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.