DexCom (NASDAQ:DXCM) Upgraded to “Strong-Buy” at Mizuho

DexCom (NASDAQ:DXCM) was upgraded by analysts at Mizuho to a “strong-buy” rating in a report issued on Wednesday,Zacks.com reports.

A number of other brokerages also recently issued reports on DXCM. Cfra Research upgraded shares of DexCom to a “hold” rating in a research note on Friday, March 21st. Citigroup lifted their target price on DexCom from $101.00 to $104.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th. Baird R W raised DexCom from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 16th. Robert W. Baird raised shares of DexCom from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $86.00 to $104.00 in a report on Thursday, January 16th. Finally, Redburn Atlantic upgraded shares of 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 research report on Monday, February 3rd. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $99.00.

DexCom Stock Performance

DexCom stock traded down $1.14 during midday trading on Wednesday, hitting $66.16. The company’s stock had a trading volume of 505,314 shares, compared to its average volume of 4,163,750. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.47 and a quick ratio of 1.28. DexCom has a 1-year low of $57.52 and a 1-year high of $141.25. The company has a 50-day moving average price of $77.35 and a two-hundred day moving average price of $76.62. The company has a market cap of $25.94 billion, a price-to-earnings ratio of 46.16, a PEG ratio of 2.30 and a beta of 1.50.

DexCom (NASDAQ:DXCM) last posted its quarterly earnings data 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%. As a group, sell-side analysts predict that DexCom will post 2.03 earnings per share for the current year.

Insider Activity at DexCom

In other DexCom news, COO Jacob Steven Leach sold 14,076 shares of the company’s stock in a transaction 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 sale, the chief operating officer now owns 313,497 shares of the company’s stock, valued at approximately $22,063,918.86. This represents a 4.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Jereme M. Sylvain sold 2,090 shares of DexCom stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $86.91, for a total value of $181,641.90. Following the completion of the transaction, the executive vice president now directly owns 83,526 shares of the company’s stock, valued at approximately $7,259,244.66. This trade represents a 2.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 105,009 shares of company stock worth $8,044,178 over the last ninety days. Insiders own 0.30% of the company’s stock.

Institutional Investors Weigh In On DexCom

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

DexCom Company Profile

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.