DexCom (NASDAQ:DXCM) Price Target Raised to $84.00

DexCom (NASDAQ:DXCM) had its target price raised by research analysts at Citigroup from $77.00 to $84.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the medical device company’s stock. Citigroup’s price target would suggest a potential upside of 26.78% from the stock’s current price.

Several other research firms have also recently weighed in on DXCM. Wells Fargo & Company cut 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. BTIG Research reaffirmed a “buy” rating and issued a $85.00 target price on shares of DexCom in a research report on Monday. Canaccord Genuity Group set a $95.00 target price on shares of DexCom and gave the company a “buy” rating in a research note on Friday, February 13th. Truist Financial reiterated a “buy” rating and set a $80.00 price target (down from $82.00) on shares of DexCom in a research report on Tuesday, February 17th. Finally, Evercore assumed coverage on shares of DexCom in a research note on Tuesday, November 25th. They issued an “in-line” rating and a $68.00 price target for the company. Two investment 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. According to data from MarketBeat, DexCom has an average rating of “Moderate Buy” and an average price target of $85.50.

DexCom Trading Down 2.3%

Shares of DexCom stock traded down $1.54 during trading on Wednesday, reaching $66.26. 1,369,097 shares of the stock were exchanged, compared to its average volume of 5,248,821. The company has a quick ratio of 1.59, a current ratio of 1.88 and a debt-to-equity ratio of 0.45. The firm has a market cap of $25.50 billion, a price-to-earnings ratio of 31.50, a price-to-earnings-growth ratio of 1.34 and a beta of 1.48. DexCom has a 1 year low of $54.11 and a 1 year high of $89.98. The stock’s fifty day moving average is $70.73 and its 200 day moving average is $68.57.

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

Hedge Funds Weigh In On DexCom

Several large investors have recently made changes to their positions in the business. Corient Private Wealth LLC boosted its stake in DexCom by 241.1% during the 4th 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 shares of DexCom in the fourth quarter worth $245,000. Employees Provident Fund Board purchased a new position in shares of DexCom in the fourth quarter worth $145,352,000. Tulsa Wealth Advisors INC bought a new position in shares of DexCom during the fourth quarter valued at $430,000. Finally, Bank of Hawaii boosted its position in shares of DexCom by 5.5% during the fourth quarter. Bank of Hawaii now owns 7,734 shares of the medical device company’s stock valued at $513,000 after buying an additional 400 shares during the last quarter. 97.75% of the stock is currently owned by hedge funds and other institutional investors.

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.