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

DexCom (NASDAQ:DXCM) had its price objective hoisted by Mizuho from $85.00 to $90.00 in a research report released on Wednesday morning,Benzinga reports. Mizuho currently has an outperform rating on the medical device company’s stock.

A number of other brokerages also recently commented on DXCM. Barclays reissued an “underweight” rating and issued a $64.00 price target (down from $67.00) on shares of DexCom in a report on Monday, May 18th. TD Cowen reissued a “buy” rating and issued 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. Weiss Ratings upgraded DexCom from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, July 8th. Finally, Robert W. Baird set a $80.00 price target on shares of DexCom in a research report on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, DexCom currently has a consensus rating of “Moderate Buy” and an average price target of $85.08.

DexCom Stock Down 1.9%

Shares of DXCM opened at $72.73 on Wednesday. The firm has a market cap of $28.06 billion, a PE ratio of 31.08, a price-to-earnings-growth ratio of 1.22 and a beta of 1.45. The company has a quick ratio of 1.64, a current ratio of 1.95 and a debt-to-equity ratio of 0.42. The company’s fifty day moving average is $70.49 and its two-hundred day moving average is $68.60. DexCom has a fifty-two week low of $54.11 and a fifty-two week high of $89.98.

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

Insider Buying and Selling

In related news, EVP Michael Jon Brown sold 1,700 shares of DexCom stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $75.55, for a total transaction of $128,435.00. Following the sale, the executive vice president directly owned 106,353 shares of the company’s stock, valued at $8,034,969.15. This trade represents a 1.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jon Coleman sold 4,911 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $74.13, for a total value of $364,052.43. Following the sale, the executive vice president owned 95,450 shares in the company, valued at approximately $7,075,708.50. This represents a 4.89% 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 sold a total of 71,750 shares of company stock valued at $5,163,241 in the last quarter. Insiders own 0.28% of the company’s stock.

Institutional Investors Weigh In On DexCom

Institutional investors and hedge funds have recently made changes to their positions in the company. Reflection Asset Management bought a new stake in DexCom during the 4th quarter worth about $25,000. Ascentis Independent Advisors acquired a new position in shares of DexCom in the 1st quarter valued at $25,000. CVA Family Office LLC increased its holdings in shares of DexCom by 48.5% in the fourth quarter. CVA Family Office LLC now owns 450 shares of the medical device company’s stock worth $30,000 after acquiring an additional 147 shares in the last quarter. MCF Advisors LLC acquired a new stake in DexCom during the 4th quarter worth approximately $32,000. Finally, ORG Partners LLC raised its holdings in shares of DexCom by 124.3% during the fourth quarter. ORG Partners LLC now owns 507 shares of the medical device company’s stock worth $34,000 after acquiring an additional 281 shares during the period. 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.