DXCM - 1 High-Flying Growth Stock With 19% Upside According to Wall Street
Medical device specialist DexCom (NASDAQ: DXCM) has been on fire over the past year, significantly outperforming the broader market. The healthcare company can thank several tailwinds for its performance, including the continued adoption of the technology it has helped pioneer -- continuous glucose monitoring (CGM) -- and the launch of new products.
But DexCom still has some upside left, at least if we go by Wall Street's predictions. The company's current average price target of $132.22 (according to Yahoo! Finance) represents a 19% upside over its stock price of about $111 as of this writing. Should investors follow the Street's advice and buy DexCom's shares? Let's dig in and find out.
CGM devices give diabetes patients a much better option to keep track of their blood sugar levels. Typically, those with diabetes have to draw blood with a device sometimes called a glucometer that measures the amount of sugar in the blood sample. But this method is painful and suffers from one other major drawback: It only tells patients their blood glucose levels at a specific point when they measure it. Enter CGM options, like DexCom's G6.
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1 High-Flying Growth Stock With 19% Upside, According to Wall Street