DexCom (NASDAQ:DXCM) Price Target Raised to $97.00

DexCom (NASDAQ:DXCM) had its price objective hoisted by Canaccord Genuity Group from $90.00 to $97.00 in a report released on Friday,Benzinga reports. The firm currently has a buy rating on the medical device company’s stock.

Other research analysts also recently issued research reports about the stock. Wells Fargo & Company increased their price objective on shares of DexCom from $85.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Citigroup reaffirmed a “buy” rating and issued a $88.00 target price (up from $84.00) on shares of DexCom in a report on Friday, July 31st. Wall Street Zen upgraded shares of DexCom from a “hold” rating to a “buy” rating in a research report on Sunday, September 6th. Benchmark lifted their price objective on DexCom from $77.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $105.00 price objective (up from $90.00) on shares of DexCom in a research note on Thursday, October 1st. Two investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, DexCom presently has an average rating of “Buy” and an average price target of $93.70.

DexCom Stock Performance

DexCom stock opened at $82.29 on Friday. The company has a market capitalization of $30.69 billion, a P/E ratio of 32.27, a PEG ratio of 1.37 and a beta of 1.45. The stock’s 50 day moving average is $85.82 and its 200 day moving average is $74.65. DexCom has a twelve month low of $54.11 and a twelve month high of $92.59. The company has a quick ratio of 1.40, a current ratio of 1.74 and a debt-to-equity ratio of 0.49.

DexCom (NASDAQ:DXCM) last announced its quarterly earnings data on Thursday, October 29th. The medical device company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.68 by $0.05. DexCom had a net margin of 19.42% and a return on equity of 37.77%. The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the prior year, the firm posted $0.61 EPS. DexCom’s revenue for the quarter was up 11.1% on a year-over-year basis. On average, equities research analysts predict that DexCom will post 2.67 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Jereme M. Sylvain sold 3,638 shares of the firm’s stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $83.27, for a total transaction of $302,936.26. Following the sale, the executive vice president owned 146,828 shares of the company’s stock, valued at $12,226,367.56. This trade represents a 2.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Brown sold 1,700 shares of the business’s stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $85.48, for a total transaction of $145,316.00. Following the transaction, the executive vice president owned 98,185 shares of the company’s stock, valued at approximately $8,392,853.80. This trade represents a 1.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 22,822 shares of company stock valued at $1,920,193. Company insiders own 0.28% of the company’s stock.

Institutional Investors Weigh In On DexCom

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DXCM. Mather Group LLC. grew its position in shares of DexCom by 27.7% during the 3rd quarter. Mather Group LLC. now owns 563 shares of the medical device company’s stock valued at $49,000 after acquiring an additional 122 shares during the period. Fifth Third Wealth Advisors LLC lifted its stake in DexCom by 2.8% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 5,510 shares of the medical device company’s stock worth $475,000 after acquiring an additional 150 shares in the last quarter. Elevation Wealth Partners LLC grew its stake in DexCom by 61.0% during the 3rd quarter. Elevation Wealth Partners LLC now owns 401 shares of the medical device company’s stock worth $35,000 after purchasing an additional 152 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in DexCom by 15.4% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,147 shares of the medical device company’s stock valued at $77,000 after buying an additional 153 shares during the last quarter. Finally, Simplicity Wealth LLC increased its stake in DexCom by 5.4% in the third quarter. Simplicity Wealth LLC now owns 3,169 shares of the medical device company’s stock valued at $273,000 after purchasing an additional 162 shares during the last quarter. 97.75% of the stock is owned by institutional investors and hedge funds.

About DexCom

DexCom, Inc develops and commercializes continuous glucose monitoring (CGM) systems for people with diabetes. Its devices use a small wearable sensor to measure glucose levels in real time and transmit readings to compatible smartphones, receivers, smartwatches, and other connected devices, helping users monitor glucose trends and make informed decisions about their health.

The company’s product portfolio includes the Dexcom G7 and Dexcom G6 CGM systems, as well as Dexcom ONE and Dexcom ONE+ products offered in select markets.