In a report released today, Steven Lichtman from Oppenheimer maintained a Buy rating on Dexcom (DXCM), with a price target of $150. The company’s shares closed on Tuesday at $127.91.
Lichtman noted:
“At its 12/4 inaugural Investor Day, DXCM highlighted the following: 1) Initiatives to penetrate expansive market opportunities both within the core intensive diabetes population and beyond (non-intensive T2, gestational, hospital). 2) Its innovation pipeline including next G6 platform steps, decision support tools and Verily. 3) Its pharmacy channel push with patient, physician and DXCM (higher volumes/ cost reduction) benefits. 4) A 5-year outlook including $2-2.5B in revenue (15-20% CAGR ’18-’23), and 1,800bps of operating margin improvement to ~15% (at the $2B level) by 2023E (including detailed gross margin initiatives to offset assumed lower revenue/patient in its outlook driven primarily by channel expansion). This long-term outlook includes only expansion within DXCM’s core, intensive-insulin population.”
According to TipRanks.com, Lichtman ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -7.9% and a 47.1% success rate. Lichtman covers the Healthcare sector, focusing on stocks such as Boston Scientific Corp, Zimmer Biomet Holdings, and Motus Gi Holdings Inc.
Currently, the analyst consensus on Dexcom is a Moderate Buy with an average price target of $150.45, representing a 17.6% upside. In a report issued on November 21, Stephens also maintained a Buy rating on the stock with a $170 price target.
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Dexcom’s market cap is currently $11.36B and has a P/E ratio of 274.43. The company has a Price to Book ratio of 20.20.
Based on the recent corporate insider activity of 103 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of DXCM in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
DexCom, Inc. is a medical device manufacturing company, which engages in the design, development, and commercialization of continuous glucose monitoring systems for ambulatory use by people with diabetes. Its products include Dexcom G4 PLATINUM System, Dexcom studio and Mobile apps.
