DexCom (NASDAQ:DXCM) Earns Buy Rating from BTIG Research

DexCom (NASDAQ:DXCM)‘s stock had its “buy” rating reissued by equities researchers at BTIG Research in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $85.00 price objective on the medical device company’s stock. BTIG Research’s target price would indicate a potential upside of 24.82% from the stock’s current price.

Other equities research analysts have also recently issued reports about the stock. Leerink Partners reissued an “outperform” rating and issued a $92.00 target price on shares of DexCom in a research report on Tuesday, December 16th. Barclays reaffirmed an “underweight” rating and set a $72.00 price target (up from $71.00) on shares of DexCom in a research note on Friday, February 13th. Wells Fargo & Company decreased their price target on shares of DexCom from $93.00 to $85.00 and set an “overweight” rating on the stock in a report on Friday, February 13th. Morgan Stanley reissued an “overweight” rating on shares of DexCom in a research note on Monday, January 12th. Finally, Citigroup restated a “buy” rating and set a $77.00 price objective (up from $75.00) on shares of DexCom in a report on Thursday, December 11th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, DexCom currently has a consensus rating of “Moderate Buy” and an average price target of $85.18.

DexCom Stock Performance

DexCom stock opened at $68.10 on Monday. The stock has a fifty day moving average price of $70.69 and a 200 day moving average price of $68.75. DexCom has a 52 week low of $54.11 and a 52 week high of $89.98. The firm has a market capitalization of $26.21 billion, a P/E ratio of 32.43, a PEG ratio of 1.32 and a beta of 1.48. The company has a current ratio of 1.88, a quick ratio of 1.59 and a debt-to-equity ratio of 0.45.

DexCom (NASDAQ:DXCM) last issued its quarterly earnings results on Thursday, February 12th. The medical device company reported $0.68 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same period last year, the company earned $0.45 EPS. The firm’s quarterly revenue was up 13.1% on a year-over-year basis. Equities research analysts anticipate that DexCom will post 2.03 earnings per share for the current year.

Institutional Trading of DexCom

Institutional investors have recently added to or reduced their stakes in the business. Trust Co. of Vermont raised its position in DexCom by 14.8% in the fourth quarter. Trust Co. of Vermont now owns 1,122 shares of the medical device company’s stock valued at $74,000 after purchasing an additional 145 shares during the period. CVA Family Office LLC boosted its position in shares of DexCom by 48.5% in the fourth quarter. CVA Family Office LLC now owns 450 shares of the medical device company’s stock worth $30,000 after buying an additional 147 shares during the period. GAMMA Investing LLC boosted its position in shares of DexCom by 2.5% in the third quarter. GAMMA Investing LLC now owns 7,043 shares of the medical device company’s stock worth $474,000 after buying an additional 169 shares during the period. IFP Advisors Inc grew its stake in shares of DexCom by 24.7% in the third quarter. IFP Advisors Inc now owns 900 shares of the medical device company’s stock valued at $61,000 after buying an additional 178 shares in the last quarter. Finally, Inspire Investing LLC raised its holdings in shares of DexCom by 6.1% during the 3rd quarter. Inspire Investing LLC now owns 3,139 shares of the medical device company’s stock valued at $211,000 after buying an additional 180 shares during the period. 97.75% of the stock is owned by hedge funds and other institutional investors.

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.