DexCom (NASDAQ:DXCM) Price Target Cut to $115.00

DexCom (NASDAQ:DXCM) had its price target cut by investment analysts at Royal Bank of Canada from $120.00 to $115.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has an “outperform” rating on the medical device company’s stock. Royal Bank of Canada’s target price suggests a potential upside of 56.59% from the stock’s previous close.

Several other equities research analysts also recently weighed in on the company. BTIG Research decreased their price objective on DexCom from $156.00 to $120.00 and set a “buy” rating for the company in a report on Friday, July 26th. Wells Fargo & Company increased their price target on DexCom from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday. Leerink Partners decreased their price target on DexCom from $90.00 to $87.00 and set an “outperform” rating for the company in a report on Friday. Robert W. Baird raised their target price on DexCom from $80.00 to $82.00 and gave the company a “neutral” rating in a report on Monday, August 5th. Finally, Stifel Nicolaus raised their price target on DexCom from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Six research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $104.59.

DexCom Stock Performance

Shares of DexCom stock opened at $73.44 on Friday. The firm has a market capitalization of $29.43 billion, a P/E ratio of 45.33, a P/E/G ratio of 2.26 and a beta of 1.18. DexCom has a 52 week low of $62.34 and a 52 week high of $142.00. The company has a quick ratio of 2.48, a current ratio of 2.82 and a debt-to-equity ratio of 1.00. The firm’s 50 day moving average is $70.11 and its two-hundred day moving average is $98.24.

DexCom (NASDAQ:DXCM) last announced its quarterly earnings results on Thursday, October 24th. The medical device company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.43 by $0.02. The company had revenue of $994.20 million for the quarter, compared to analyst estimates of $991.55 million. DexCom had a net margin of 16.95% and a return on equity of 31.41%. Research analysts forecast that DexCom will post 1.69 EPS for the current fiscal year.

Insider Activity

In other DexCom news, EVP Sadie Stern sold 426 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $69.15, for a total value of $29,457.90. Following the completion of the sale, the executive vice president now directly owns 75,451 shares of the company’s stock, valued at $5,217,436.65. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Sadie Stern sold 426 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $69.15, for a total value of $29,457.90. Following the completion of the sale, the executive vice president now directly owns 75,451 shares in the company, valued at approximately $5,217,436.65. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Jacob Steven Leach sold 746 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $69.15, for a total value of $51,585.90. Following the transaction, the chief operating officer now directly owns 264,915 shares in the company, valued at approximately $18,318,872.25. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,824 shares of company stock valued at $126,390 over the last 90 days. 0.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On DexCom

Several institutional investors and hedge funds have recently made changes to their positions in DXCM. Canada Pension Plan Investment Board lifted its position in shares of DexCom by 189.1% in the second quarter. Canada Pension Plan Investment Board now owns 665,646 shares of the medical device company’s stock worth $75,471,000 after purchasing an additional 435,401 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of DexCom by 16.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,439,033 shares of the medical device company’s stock valued at $276,538,000 after purchasing an additional 353,019 shares during the period. Assenagon Asset Management S.A. lifted its stake in DexCom by 53.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 989,740 shares of the medical device company’s stock valued at $66,352,000 after purchasing an additional 345,114 shares during the last quarter. Bellevue Group AG increased its position in DexCom by 33.5% during the first quarter. Bellevue Group AG now owns 1,221,197 shares of the medical device company’s stock worth $169,380,000 after buying an additional 306,604 shares during the last quarter. Finally, Magnetar Financial LLC bought a new position in shares of DexCom during the 2nd quarter worth approximately $31,793,000. Institutional investors and hedge funds own 97.75% of the company’s stock.

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.