Raymond James Cuts DexCom (NASDAQ:DXCM) Price Target to $99.00

DexCom (NASDAQ:DXCM) had its target price dropped by analysts at Raymond James from $115.00 to $99.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a “strong-buy” rating on the medical device company’s stock. Raymond James’ target price suggests a potential upside of 32.18% from the company’s current price.

Other equities analysts have also recently issued research reports about the company. Canaccord Genuity Group reiterated a “buy” rating and set a $145.00 target price on shares of DexCom in a research report on Tuesday, July 23rd. Piper Sandler reaffirmed an “overweight” rating and set a $90.00 price objective on shares of DexCom in a report on Monday, August 26th. Oppenheimer cut their price objective on DexCom from $115.00 to $105.00 and set an “outperform” rating for the company in a research report on Friday. Royal Bank of Canada decreased their target price on shares of DexCom from $130.00 to $120.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 8th. Finally, Leerink Partners lowered their price target on shares of DexCom from $90.00 to $87.00 and set an “outperform” rating on the stock in a research note on Friday. Seven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, DexCom presently has a consensus rating of “Moderate Buy” and a consensus price target of $105.75.

DexCom Stock Performance

Shares of DexCom stock traded up $0.05 during trading hours on Friday, hitting $74.90. 9,605,399 shares of the company were exchanged, compared to its average volume of 3,881,020. The company has a current ratio of 2.82, a quick ratio of 2.48 and a debt-to-equity ratio of 1.00. The business has a 50-day moving average of $70.13 and a 200-day moving average of $98.71. DexCom has a 1 year low of $62.34 and a 1 year high of $142.00. The stock has a market capitalization of $29.79 billion, a price-to-earnings ratio of 48.32, a P/E/G ratio of 2.16 and a beta of 1.18.

DexCom (NASDAQ:DXCM) last released its earnings results on Thursday, October 24th. The medical device company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.43 by $0.02. DexCom had a net margin of 16.95% and a return on equity of 31.41%. The company had revenue of $994.20 million during the quarter, compared to analysts’ expectations of $991.55 million. As a group, analysts expect that DexCom will post 1.69 EPS for the current fiscal year.

Insider Activity at DexCom

In other news, EVP Sadie Stern sold 426 shares of DexCom stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $69.15, for a total transaction 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 $5,217,436.65. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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 transaction of $29,457.90. Following the sale, the executive vice president now owns 75,451 shares in the company, valued at $5,217,436.65. 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 available through this link. Also, COO Jacob Steven Leach sold 746 shares of DexCom stock in a transaction on Monday, September 9th. The shares were sold at an average price of $69.15, for a total value of $51,585.90. Following the completion of the sale, the chief operating officer now directly owns 264,915 shares of the company’s stock, 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. In the last quarter, insiders sold 1,824 shares of company stock valued at $126,390. 0.30% of the stock is owned by insiders.

Institutional Investors Weigh In On DexCom

Several hedge funds have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC raised its stake in DexCom by 11.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 25,322 shares of the medical device company’s stock worth $3,512,000 after purchasing an additional 2,591 shares during the period. Hodges Capital Management Inc. acquired a new position in DexCom in the first quarter valued at $347,000. Toth Financial Advisory Corp boosted its holdings in DexCom by 870.9% in the first quarter. Toth Financial Advisory Corp now owns 6,583 shares of the medical device company’s stock valued at $913,000 after acquiring an additional 5,905 shares during the last quarter. Trilogy Capital Inc. purchased a new stake in DexCom during the first quarter valued at about $470,000. Finally, Congress Wealth Management LLC DE increased its stake in DexCom by 0.6% during the first quarter. Congress Wealth Management LLC DE now owns 168,657 shares of the medical device company’s stock worth $23,393,000 after acquiring an additional 952 shares during the last quarter. 97.75% of the stock is 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.