Brokerages Set DexCom, Inc. (NASDAQ:DXCM) Target Price at $85.00

DexCom, Inc. (NASDAQ:DXCM) has earned a consensus rating of “Moderate Buy” from the twenty-five brokerages that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $85.1818.

Several equities research analysts have commented on DXCM shares. Barclays reissued an “underweight” rating and issued a $72.00 target price (up from $71.00) on shares of DexCom in a report on Friday, February 13th. Wells Fargo & Company dropped their price target on shares of DexCom from $93.00 to $85.00 and set an “overweight” rating on the stock in a research note on Friday, February 13th. Piper Sandler reissued an “overweight” rating on shares of DexCom in a research report on Thursday, February 5th. UBS Group decreased their target price on shares of DexCom from $106.00 to $95.00 and set a “buy” rating for the company in a report on Monday, November 3rd. Finally, Leerink Partners reiterated an “outperform” rating and issued a $92.00 target price on shares of DexCom in a research note on Tuesday, December 16th.

DexCom Trading Up 3.4%

Shares of DXCM opened at $72.80 on Thursday. The stock has a market capitalization of $28.02 billion, a P/E ratio of 34.67, a PEG ratio of 1.37 and a beta of 1.49. DexCom has a twelve month low of $54.11 and a twelve month high of $91.87. 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 firm has a fifty day simple moving average of $69.30 and a two-hundred day simple moving average of $69.35.

DexCom (NASDAQ:DXCM) last released 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 return on equity of 32.12% and a net margin of 17.94%.The business had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter last year, the business posted $0.45 EPS. The business’s revenue was up 13.1% on a year-over-year basis. On average, research analysts anticipate that DexCom will post 2.03 EPS for the current year.

Hedge Funds Weigh In On DexCom

Several hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank bought a new position in shares of DexCom in the fourth quarter worth about $483,356,000. Groupama Asset Managment increased its holdings in DexCom by 79,043.1% in the 2nd quarter. Groupama Asset Managment now owns 4,016,513 shares of the medical device company’s stock worth $350,601,000 after acquiring an additional 4,011,438 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in DexCom by 106.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,605,687 shares of the medical device company’s stock worth $576,610,000 after acquiring an additional 3,410,858 shares in the last quarter. Marshall Wace LLP raised its stake in DexCom by 260.7% during the 2nd quarter. Marshall Wace LLP now owns 3,822,085 shares of the medical device company’s stock worth $333,630,000 after acquiring an additional 2,762,504 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in DexCom by 597.8% during the fourth quarter. AQR Capital Management LLC now owns 3,102,789 shares of the medical device company’s stock valued at $205,932,000 after purchasing an additional 2,658,158 shares in the last quarter. 97.75% of the stock is owned by institutional investors.

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.