DexCom (NASDAQ:DXCM) Earns Outperform Rating from Analysts at Mizuho

Mizuho initiated coverage on shares of DexCom (NASDAQ:DXCM) in a report released on Thursday,Benzinga reports. The firm set an “outperform” rating and a $85.00 price target on the medical device company’s stock. Mizuho’s price target indicates a potential upside of 20.26% from the company’s current price.

A number of other equities research analysts also recently commented on the company. Cfra Research upgraded DexCom to a “hold” rating in a research report on Friday, March 21st. Morgan Stanley boosted their price objective on DexCom from $75.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. Canaccord Genuity Group boosted their price objective on DexCom from $99.00 to $103.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Wells Fargo & Company reissued an “overweight” rating on shares of DexCom in a research note on Saturday, March 8th. Finally, Robert W. Baird raised DexCom from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $86.00 to $104.00 in a research note on Thursday, January 16th. Five research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, DexCom has a consensus rating of “Moderate Buy” and a consensus price target of $99.00.

DexCom Stock Up 5.7 %

DXCM stock traded up $3.84 on Thursday, reaching $70.68. 2,993,319 shares of the company traded hands, compared to its average volume of 4,145,647. DexCom has a one year low of $57.52 and a one year high of $141.25. 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 company has a market cap of $27.71 billion, a P/E ratio of 49.43, a price-to-earnings-growth ratio of 2.30 and a beta of 1.50. The firm has a fifty day simple moving average of $77.74 and a 200-day simple moving average of $76.63.

DexCom (NASDAQ:DXCM) last posted its earnings results on Thursday, February 13th. The medical device company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.05). DexCom had a return on equity of 30.14% and a net margin of 14.29%. Research analysts anticipate 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 stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $70.38, for a total value of $990,668.88. Following the completion of the sale, the chief operating officer now owns 313,497 shares of the company’s stock, valued at $22,063,918.86. This represents a 4.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jereme M. Sylvain sold 2,090 shares of the firm’s stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $86.91, for a total transaction of $181,641.90. Following the sale, the executive vice president now directly owns 83,526 shares of the company’s stock, valued at approximately $7,259,244.66. The trade was a 2.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 105,009 shares of company stock valued at $8,044,178 over the last quarter. Company insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Versant Capital Management Inc acquired a new stake in shares of DexCom in the 4th quarter worth approximately $25,000. Private Trust Co. NA raised its holdings in shares of DexCom by 266.3% in the 4th quarter. Private Trust Co. NA now owns 337 shares of the medical device company’s stock worth $26,000 after purchasing an additional 245 shares in the last quarter. Optiver Holding B.V. bought a new stake in shares of DexCom in the 4th quarter worth approximately $33,000. TD Private Client Wealth LLC raised its holdings in shares of DexCom by 62.8% in the 4th quarter. TD Private Client Wealth LLC now owns 433 shares of the medical device company’s stock worth $34,000 after purchasing an additional 167 shares in the last quarter. Finally, Larson Financial Group LLC raised its holdings in shares of DexCom by 40.5% during the fourth quarter. Larson Financial Group LLC now owns 475 shares of the medical device company’s stock valued at $37,000 after acquiring an additional 137 shares during the period. 97.75% of the stock is owned by institutional investors and hedge funds.

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.