Brokerages Set DexCom, Inc. (NASDAQ:DXCM) Price Target at $86.50

DexCom, Inc. (NASDAQ:DXCM) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-four analysts that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have given a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $86.50.

A number of brokerages have recently issued reports on DXCM. Truist Financial reissued a “buy” rating and issued a $80.00 price target (down from $82.00) on shares of DexCom in a report on Tuesday, February 17th. Barclays restated an “underweight” rating and issued a $72.00 price objective (up from $71.00) on shares of DexCom in a research report on Friday, February 13th. Evercore raised shares of DexCom from an “in-line” rating to an “outperform” rating and set a $90.00 target price on the stock in a report on Tuesday, March 24th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $86.00 target price (up from $84.00) on shares of DexCom in a research note on Friday, January 9th. Finally, Citigroup raised their price target on shares of DexCom from $77.00 to $84.00 and gave the company a “buy” rating in a report on Wednesday, March 11th.

DexCom Price Performance

DexCom stock opened at $62.22 on Friday. The firm has a market capitalization of $23.95 billion, a P/E ratio of 29.63, a PEG ratio of 1.21 and a beta of 1.55. DexCom has a one year low of $54.11 and a one year high of $89.98. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.88 and a quick ratio of 1.59. The business has a fifty day moving average price of $69.11 and a 200-day moving average price of $67.08.

DexCom (NASDAQ:DXCM) last released its quarterly earnings data on Thursday, February 12th. The medical device company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.03. DexCom had a return on equity of 32.12% and a net margin of 17.94%.The company had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same period in the previous year, the company posted $0.45 EPS. The firm’s revenue for the quarter was up 13.1% compared to the same quarter last year. As a group, equities research analysts forecast that DexCom will post 2.03 EPS for the current year.

Insider Transactions at DexCom

In related news, EVP Michael Jon Brown sold 1,700 shares of DexCom stock in a transaction on Monday, March 16th. The stock was sold at an average price of $64.85, for a total transaction of $110,245.00. Following the completion of the sale, the executive vice president owned 112,904 shares of the company’s stock, valued at approximately $7,321,824.40. This trade represents a 1.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.32% of the company’s stock.

Institutional Trading of DexCom

Several institutional investors and hedge funds have recently modified their holdings of the business. Rockefeller Capital Management L.P. increased its position in shares of DexCom by 6.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 15,679 shares of the medical device company’s stock worth $1,041,000 after purchasing an additional 938 shares during the last quarter. World Investment Advisors lifted its position in DexCom by 34.6% during the fourth quarter. World Investment Advisors now owns 65,089 shares of the medical device company’s stock valued at $4,320,000 after purchasing an additional 16,749 shares during the last quarter. Corient Private Wealth LLC lifted its position in DexCom by 241.1% during the fourth quarter. Corient Private Wealth LLC now owns 123,754 shares of the medical device company’s stock valued at $8,221,000 after purchasing an additional 87,468 shares during the last quarter. Rehmann Capital Advisory Group purchased a new position in DexCom in the 4th quarter worth approximately $245,000. Finally, Employees Provident Fund Board bought a new position in shares of DexCom in the 4th quarter worth $145,352,000. 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.