DexCom (NASDAQ:DXCM) Price Target Raised to $90.00

DexCom (NASDAQ:DXCM) had its price objective hoisted by equities researchers at Wells Fargo & Company from $80.00 to $90.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has an “overweight” rating on the medical device company’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 20.24% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on the stock. Piper Sandler restated an “overweight” rating and set a $90.00 price objective on shares of DexCom in a research report on Monday, August 26th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $145.00 price target on shares of DexCom in a research note on Tuesday, July 23rd. Stifel Nicolaus lifted their price objective on DexCom from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. StockNews.com cut DexCom from a “buy” rating to a “hold” rating in a report on Saturday, October 12th. Finally, JPMorgan Chase & Co. downgraded DexCom from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $145.00 to $75.00 in a research report on Friday, July 26th. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $111.40.

DexCom Price Performance

NASDAQ:DXCM opened at $74.85 on Friday. The stock has a market capitalization of $29.77 billion, a PE ratio of 48.29, a price-to-earnings-growth ratio of 2.16 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 stock’s 50-day moving average price is $70.13 and its 200-day moving average price is $98.71.

DexCom (NASDAQ:DXCM) last issued its quarterly earnings data 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 return on equity of 31.41% and a net margin of 16.95%. As a group, equities analysts expect that DexCom will post 1.69 EPS for the current fiscal year.

Insider Activity

In related news, EVP Michael Jon Brown sold 652 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $69.55, for a total transaction of $45,346.60. Following the completion of the sale, the executive vice president now directly owns 66,249 shares in the company, valued at approximately $4,607,617.95. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Sadie Stern sold 426 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $69.15, for a total transaction of $29,457.90. Following the completion of the transaction, the executive vice president now directly owns 75,451 shares in the company, valued at approximately $5,217,436.65. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Michael Jon Brown sold 652 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $69.55, for a total transaction of $45,346.60. Following the completion of the sale, the executive vice president now owns 66,249 shares in the company, valued at approximately $4,607,617.95. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,824 shares of company stock valued at $126,390. 0.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On DexCom

A number of institutional investors have recently made changes to their positions in DXCM. Vanguard Group Inc. increased its holdings in DexCom by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 44,603,745 shares of the medical device company’s stock valued at $6,186,539,000 after purchasing an additional 136,282 shares during the last quarter. Blair William & Co. IL boosted its position in shares of DexCom by 1.4% during the first quarter. Blair William & Co. IL now owns 4,532,687 shares of the medical device company’s stock worth $628,684,000 after buying an additional 64,683 shares during the period. Legal & General Group Plc grew its stake in shares of DexCom by 1.7% in the second quarter. Legal & General Group Plc now owns 2,993,049 shares of the medical device company’s stock valued at $339,352,000 after buying an additional 49,076 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 buying an additional 353,019 shares during the period. Finally, 1832 Asset Management L.P. boosted its holdings in DexCom by 1.1% during the 1st quarter. 1832 Asset Management L.P. now owns 1,823,400 shares of the medical device company’s stock valued at $252,906,000 after acquiring an additional 20,400 shares during the period. 97.75% of the stock is currently owned by institutional investors and hedge funds.

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.