DexCom (NASDAQ:DXCM – Free Report) had its target price increased by Mizuho from $85.00 to $90.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have an outperform rating on the medical device company’s stock.
Several other analysts have also recently commented on DXCM. Stifel Nicolaus set a $90.00 target price on shares of DexCom and gave the stock a “buy” rating in a research note on Friday, June 5th. UBS Group set a $95.00 price target on DexCom in a research note on Wednesday, June 10th. Wall Street Zen cut DexCom from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 10th. William Blair raised DexCom to a “strong-buy” rating in a research report on Friday, May 15th. Finally, Benchmark reiterated a “buy” rating on shares of DexCom in a research note on Tuesday, June 23rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, DexCom has a consensus rating of “Moderate Buy” and an average price target of $85.36.
Check Out Our Latest Analysis on DXCM
DexCom Price Performance
DexCom (NASDAQ:DXCM – Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The medical device company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.09. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.17 billion. DexCom had a net margin of 19.31% and a return on equity of 33.33%. The company’s revenue was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.32 earnings per share. Equities analysts predict that DexCom will post 2.57 earnings per share for the current year.
Insiders Place Their Bets
In other news, Director Bridgette P. Heller sold 1,012 shares of the business’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $60.01, for a total transaction of $60,730.12. Following the completion of the sale, the director owned 25,007 shares in the company, valued at approximately $1,500,670.07. The trade was a 3.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kevin R. Sayer sold 26,759 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $72.00, for a total transaction of $1,926,648.00. Following the completion of the transaction, the insider owned 382,482 shares in the company, valued at $27,538,704. The trade was a 6.54% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 71,750 shares of company stock worth $5,163,241. 0.28% of the stock is owned by insiders.
Hedge Funds Weigh In On DexCom
A number of hedge funds have recently made changes to their positions in the business. Gradient Investments LLC boosted its stake in DexCom by 13.8% in the fourth quarter. Gradient Investments LLC now owns 332,006 shares of the medical device company’s stock valued at $22,035,000 after acquiring an additional 40,343 shares during the period. Nordea Investment Management AB raised its position in shares of DexCom by 118.6% during the 4th quarter. Nordea Investment Management AB now owns 254,315 shares of the medical device company’s stock worth $16,988,000 after purchasing an additional 137,986 shares during the period. Banque Pictet & Cie SA raised its position in shares of DexCom by 58.2% during the 4th quarter. Banque Pictet & Cie SA now owns 109,823 shares of the medical device company’s stock worth $7,289,000 after purchasing an additional 40,411 shares during the period. Aberdeen Group plc lifted its holdings in shares of DexCom by 9.0% in the 4th quarter. Aberdeen Group plc now owns 530,363 shares of the medical device company’s stock worth $35,200,000 after purchasing an additional 43,990 shares during the last quarter. Finally, Union Bancaire Privee UBP SA lifted its holdings in shares of DexCom by 289.2% in the 4th quarter. Union Bancaire Privee UBP SA now owns 21,266 shares of the medical device company’s stock worth $1,411,000 after purchasing an additional 15,802 shares during the last quarter. 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.
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