DexCom (NASDAQ:DXCM) Rating Increased to Strong-Buy at Mizuho

Mizuho upgraded shares of DexCom (NASDAQ:DXCM) to a strong-buy rating in a research report released on Wednesday,Zacks.com reports.

Other research analysts have also recently issued reports about the stock. Cfra Research raised shares of DexCom to a “hold” rating in a report on Friday, March 21st. Citigroup increased their target price on DexCom from $101.00 to $104.00 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. Wells Fargo & Company restated an “overweight” rating on shares of DexCom in a research note on Saturday, March 8th. Redburn Atlantic raised DexCom from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $85.00 to $115.00 in a report on Monday, February 3rd. Finally, Canaccord Genuity Group raised their target price on DexCom from $99.00 to $103.00 and gave the company a “buy” rating in a report on Friday, February 14th. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, DexCom presently has an average rating of “Moderate Buy” and an average target price of $99.00.

DexCom Price Performance

DexCom stock opened at $66.14 on Wednesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.47 and a quick ratio of 1.28. The business has a 50 day simple moving average of $76.92 and a 200-day simple moving average of $76.62. DexCom has a 12 month low of $57.52 and a 12 month high of $139.24. The stock has a market capitalization of $25.93 billion, a PE ratio of 46.25, a price-to-earnings-growth ratio of 2.30 and a beta of 1.50.

DexCom (NASDAQ:DXCM) last announced its quarterly earnings data on Thursday, February 13th. The medical device company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.05). DexCom had a net margin of 14.29% and a return on equity of 30.14%. Equities analysts predict that DexCom will post 2.03 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Jacob Steven Leach sold 14,076 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $70.38, for a total transaction of $990,668.88. Following the completion of the transaction, the chief operating officer now directly owns 313,497 shares of the company’s stock, valued at $22,063,918.86. This trade represents a 4.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Michael Jon Brown sold 13,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $70.38, for a total value of $914,940.00. Following the completion of the sale, the executive vice president now directly owns 105,602 shares in the company, valued at approximately $7,432,268.76. The trade was a 10.96 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 105,009 shares of company stock worth $8,044,178. Insiders own 0.30% of the company’s stock.

Institutional Trading of DexCom

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its stake in shares of DexCom by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 9,993,698 shares of the medical device company’s stock worth $775,256,000 after purchasing an additional 56,094 shares during the last quarter. Jennison Associates LLC lifted its stake in shares of DexCom by 10.3% during the fourth quarter. Jennison Associates LLC now owns 7,643,757 shares of the medical device company’s stock valued at $594,455,000 after buying an additional 710,858 shares during the period. Norges Bank acquired a new stake in DexCom during the fourth quarter worth approximately $385,367,000. Northern Trust Corp grew its stake in DexCom by 22.2% in the 4th quarter. Northern Trust Corp now owns 4,146,249 shares of the medical device company’s stock worth $322,454,000 after acquiring an additional 753,857 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in DexCom by 3.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,825,206 shares of the medical device company’s stock valued at $219,716,000 after acquiring an additional 91,051 shares during the last quarter. Hedge funds and other institutional investors own 97.75% of the company’s stock.

About DexCom

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.