Mizuho Boosts DexCom (NASDAQ:DXCM) Price Target to $78.00

DexCom (NASDAQ:DXCM) had its price target boosted by stock analysts at Mizuho from $75.00 to $78.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the medical device company’s stock. Mizuho’s target price indicates a potential upside of 17.52% from the company’s previous close.

Several other research firms have also weighed in on DXCM. JPMorgan Chase & Co. reduced their target price on DexCom from $90.00 to $75.00 and set a “neutral” rating on the stock in a report on Friday, October 31st. Oppenheimer cut DexCom from an “outperform” rating to a “market perform” rating in a research note on Monday, September 8th. Wells Fargo & Company set a $93.00 price objective on shares of DexCom and gave the stock an “overweight” rating in a research note on Friday, October 31st. Leerink Partners restated an “outperform” rating and set a $92.00 price objective on shares of DexCom in a report on Tuesday. Finally, Robert W. Baird set a $82.00 target price on shares of DexCom in a research note on Friday, October 31st. Three equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $86.61.

DexCom Price Performance

DXCM opened at $66.37 on Wednesday. The company has a fifty day moving average price of $64.01 and a two-hundred day moving average price of $74.09. The firm has a market capitalization of $25.89 billion, a PE ratio of 36.87, a P/E/G ratio of 1.41 and a beta of 1.51. DexCom has a 52 week low of $54.11 and a 52 week high of $93.25. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.38 and a current ratio of 1.56.

DexCom (NASDAQ:DXCM) last posted its quarterly earnings results on Thursday, October 30th. The medical device company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. DexCom had a return on equity of 30.65% and a net margin of 15.96%.The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the prior year, the business posted $0.45 EPS. The firm’s quarterly revenue was up 21.6% on a year-over-year basis. As a group, analysts anticipate that DexCom will post 2.03 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Jacob Steven Leach bought 18,200 shares of the company’s stock in a transaction on Monday, November 10th. The shares were purchased at an average cost of $55.04 per share, for a total transaction of $1,001,728.00. Following the acquisition, the chief operating officer owned 331,697 shares of the company’s stock, valued at approximately $18,256,602.88. This represents a 5.81% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Richard Alexander Collins sold 2,906 shares of DexCom stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $59.05, for a total transaction of $171,599.30. Following the completion of the transaction, the director directly owned 35,088 shares in the company, valued at approximately $2,071,946.40. The trade was a 7.65% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 7,866 shares of company stock valued at $448,177. 0.32% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On DexCom

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of DexCom in the 2nd quarter valued at about $453,279,000. Groupama Asset Managment grew its holdings 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 worth $350,601,000 after buying an additional 4,011,438 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of DexCom by 106.8% during 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 buying an additional 3,410,858 shares in the last quarter. Marshall Wace LLP raised its position in DexCom by 260.7% in the 2nd quarter. Marshall Wace LLP now owns 3,822,085 shares of the medical device company’s stock valued at $333,630,000 after buying an additional 2,762,504 shares during the last quarter. Finally, Holocene Advisors LP bought a new stake in DexCom in the 3rd quarter valued at approximately $163,964,000. 97.75% of the stock is owned by institutional investors and hedge funds.

DexCom Company Profile

DexCom, Inc, a medical device company, focuses on the design, development, and commercialization of continuous glucose monitoring (CGM) systems in the United States and internationally. The company provides its systems for use by people with diabetes, as well as for use by healthcare providers. Its products include Dexcom G6 and Dexcom G7, integrated CGM systems for diabetes management; Dexcom Share, a remote monitoring system; Dexcom Real-Time API, which enables authorized third-party software developers to integrate real-time CGM data into their digital health apps and devices; and Dexcom ONE, that is designed to replace finger stick blood glucose testing for diabetes treatment decisions.