DexCom, Inc. (NASDAQ:DXCM) Receives $85.18 Average Target Price from Brokerages

Shares of DexCom, Inc. (NASDAQ:DXCM) have been assigned an average rating of “Moderate Buy” from the twenty-five research firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $85.50.

A number of brokerages recently commented on DXCM. Wall Street Zen downgraded DexCom from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 16th. Wells Fargo & Company dropped their price objective on DexCom from $93.00 to $85.00 and set an “overweight” rating on the stock in a report on Friday, February 13th. Truist Financial reaffirmed a “buy” rating and issued a $80.00 target price (down from $82.00) on shares of DexCom in a research report on Tuesday, February 17th. BTIG Research reiterated a “buy” rating and set a $85.00 target price on shares of DexCom in a research note on Monday, March 9th. Finally, Canaccord Genuity Group set a $95.00 price target on shares of DexCom and gave the stock a “buy” rating in a research report on Friday, February 13th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Reflection Asset Management acquired a new stake in shares of DexCom in the 4th quarter valued at about $25,000. Andra AP fonden acquired a new position in DexCom in the second quarter worth about $26,000. Twin Peaks Wealth Advisors LLC bought a new stake in DexCom in the second quarter valued at about $26,000. SJS Investment Consulting Inc. increased its holdings in DexCom by 4,800.0% in the third quarter. SJS Investment Consulting Inc. now owns 392 shares of the medical device company’s stock valued at $26,000 after buying an additional 384 shares during the last quarter. Finally, Financial Consulate Inc. acquired a new stake in DexCom during the third quarter valued at approximately $29,000. 97.75% of the stock is owned by institutional investors and hedge funds.

DexCom Stock Performance

DexCom stock opened at $64.24 on Monday. DexCom has a 12-month low of $54.11 and a 12-month 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 company has a market capitalization of $24.72 billion, a price-to-earnings ratio of 30.59, a price-to-earnings-growth ratio of 1.25 and a beta of 1.48. The firm’s fifty day moving average price is $70.66 and its 200 day moving average price is $68.34.

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, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.25 billion. During the same period in the prior year, the company posted $0.45 EPS. The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. On average, research analysts forecast that DexCom will post 2.03 EPS for the current fiscal year.

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.