DexCom (NASDAQ:DXCM) Stock Price Expected to Rise, Citigroup Analyst Says

DexCom (NASDAQ:DXCM) had its price objective raised by research analysts at Citigroup from $77.00 to $84.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the medical device company’s stock. Citigroup’s price target suggests a potential upside of 26.78% from the company’s current price.

Several other research firms have also recently weighed in on DXCM. Wall Street Zen cut shares of DexCom from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 16th. Canaccord Genuity Group set a $95.00 price target on DexCom and gave the company a “buy” rating in a research report on Friday, February 13th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $86.00 price target (up from $84.00) on shares of DexCom in a research note on Friday, January 9th. Evercore initiated coverage on DexCom in a report on Tuesday, November 25th. They issued an “in-line” rating and a $68.00 price objective for the company. Finally, Weiss Ratings upgraded DexCom from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, March 4th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $85.50.

DexCom Price Performance

Shares of DXCM traded down $1.54 during trading hours on Wednesday, reaching $66.26. 1,369,097 shares of the company’s stock traded hands, compared to its average volume of 5,248,821. DexCom has a 12 month low of $54.11 and a 12 month high of $89.98. The company has a current ratio of 1.88, a quick ratio of 1.59 and a debt-to-equity ratio of 0.45. The stock has a market cap of $25.50 billion, a PE ratio of 31.50, a price-to-earnings-growth ratio of 1.34 and a beta of 1.48. The firm’s 50 day simple moving average is $70.73 and its 200-day simple moving average is $68.57.

DexCom (NASDAQ:DXCM) last posted 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. DexCom had a net margin of 17.94% and a return on equity of 32.12%. The company had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same period in the prior year, the business earned $0.45 earnings per share. DexCom’s revenue for the quarter was up 13.1% compared to the same quarter last year. Equities analysts expect that DexCom will post 2.03 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Norges Bank purchased a new position in DexCom in the 4th quarter worth approximately $483,356,000. Groupama Asset Managment boosted its stake in shares of DexCom by 79,043.1% during the second quarter. Groupama Asset Managment now owns 4,016,513 shares of the medical device company’s stock valued at $350,601,000 after purchasing an additional 4,011,438 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of 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. Marshall Wace LLP grew its holdings in shares of DexCom by 260.7% in the second quarter. Marshall Wace LLP now owns 3,822,085 shares of the medical device company’s stock worth $333,630,000 after purchasing an additional 2,762,504 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of DexCom by 597.8% in the fourth quarter. AQR Capital Management LLC now owns 3,102,789 shares of the medical device company’s stock worth $205,932,000 after buying an additional 2,658,158 shares during the period. Hedge funds and other 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.