DexCom (NASDAQ:DXCM) Price Target Raised to $96.00

DexCom (NASDAQ:DXCM) had its target price lifted by BTIG Research from $90.00 to $96.00 in a report issued on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the medical device company’s stock.

DXCM has been the topic of a number of other reports. Weiss Ratings upgraded shares of DexCom from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, October 6th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $105.00 price target (up from $90.00) on shares of DexCom in a research report on Thursday, October 1st. Wells Fargo & Company increased their price target on shares of DexCom from $85.00 to $90.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. Citigroup reiterated a “buy” rating and issued a $88.00 price target (up from $84.00) on shares of DexCom in a research note on Friday, July 31st. Finally, UBS Group set a $96.00 price objective on shares of DexCom and gave the company a “buy” rating in a research report on Tuesday, July 28th. Three analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, DexCom presently has an average rating of “Buy” and an average price target of $92.43.

DexCom Stock Down 1.9%

DXCM stock opened at $83.47 on Monday. The company has a market cap of $31.50 billion, a price-to-earnings ratio of 33.36, a P/E/G ratio of 1.43 and a beta of 1.48. DexCom has a twelve month low of $54.11 and a twelve month high of $92.59. The business has a 50 day moving average price of $87.49 and a two-hundred day moving average price of $75.61. The company has a quick ratio of 1.43, a current ratio of 1.73 and a debt-to-equity ratio of 0.47.

DexCom (NASDAQ:DXCM) last announced its quarterly earnings data on Thursday, July 30th. The medical device company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.09. The company had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.29 billion. DexCom had a return on equity of 35.94% and a net margin of 20.12%. The business’s revenue was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.48 EPS. Analysts anticipate that DexCom will post 2.64 EPS for the current fiscal year.

Insider Transactions at DexCom

In other news, EVP Michael Brown sold 1,700 shares of the firm’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $84.04, for a total value of $142,868.00. Following the completion of the sale, the executive vice president directly owned 99,885 shares of the company’s stock, valued at $8,394,335.40. This trade represents a 1.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Nicholas Augustinos sold 6,539 shares of DexCom stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $84.04, for a total value of $549,537.56. Following the transaction, the director owned 29,293 shares of the company’s stock, valued at $2,461,783.72. This represents a 18.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 49,313 shares of company stock valued at $3,945,875. Company insiders own 0.28% of the company’s stock.

Hedge Funds Weigh In On DexCom

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in DexCom by 15.6% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,261,876 shares of the medical device company’s stock valued at $758,487,000 after buying an additional 1,515,702 shares during the period. Janus Henderson Group PLC raised its position in shares of DexCom by 32.3% in the 1st quarter. Janus Henderson Group PLC now owns 2,644,539 shares of the medical device company’s stock valued at $166,077,000 after buying an additional 645,534 shares in the last quarter. Legal & General Group Plc acquired a new position in shares of DexCom in the 2nd quarter valued at approximately $173,237,000. Arrowstreet Capital Limited Partnership raised its position in shares of DexCom by 100.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,545,103 shares of the medical device company’s stock valued at $159,832,000 after buying an additional 1,275,142 shares in the last quarter. Finally, Deutsche Bank AG bought a new stake in shares of DexCom during the 2nd quarter worth approximately $164,035,000. 97.75% of the stock is owned by institutional investors.

About DexCom

DexCom, Inc (NASDAQ: DXCM) develops and commercializes continuous glucose monitoring (CGM) systems for people with diabetes. Its technology uses a small wearable sensor to measure glucose levels continuously and transmit readings to a compatible receiver, smartphone or other connected device, helping users monitor glucose trends and make more informed treatment and lifestyle decisions.

The company’s product portfolio includes the Dexcom G7 and Dexcom G6 real-time CGM systems, as well as related software and digital health tools such as Dexcom Clarity for glucose data analysis and reporting.