DexCom (NASDAQ:DXCM) Price Target Raised to $86.00

DexCom (NASDAQ:DXCM) had its price objective increased by Sanford C. Bernstein from $82.00 to $86.00 in a research note released on Friday morning, Benzinga reports. They currently have an outperform rating on the medical device company’s stock.

A number of other research firms have also issued reports on DXCM. Piper Sandler reaffirmed an “overweight” rating and issued a $90.00 target price on shares of DexCom in a research note on Monday, August 26th. Raymond James reduced their target price on DexCom from $115.00 to $99.00 and set a “strong-buy” rating on the stock in a research note on Friday. Oppenheimer reduced their target price on DexCom from $115.00 to $105.00 and set an “outperform” rating on the stock in a research note on Friday. BTIG Research reduced their target price on DexCom from $156.00 to $120.00 and set a “buy” rating on the stock in a research note on Friday, July 26th. Finally, Baird R W downgraded DexCom from a “strong-buy” rating to a “hold” rating in a report on Friday, July 26th. Six investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $104.59.

DexCom Price Performance

Shares of NASDAQ:DXCM opened at $73.44 on Friday. The business’s 50 day simple moving average is $70.11 and its 200-day simple moving average is $97.95. The firm has a market capitalization of $29.21 billion, a price-to-earnings ratio of 47.38, a price-to-earnings-growth ratio of 2.26 and a beta of 1.18. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.82 and a quick ratio of 2.48. DexCom has a 12 month low of $62.34 and a 12 month high of $142.00.

DexCom (NASDAQ:DXCM) last posted its earnings results on Thursday, July 25th. The medical device company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.04. DexCom had a return on equity of 31.41% and a net margin of 16.95%. The firm had revenue of $1 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the prior year, the company earned $0.34 EPS. DexCom’s revenue was up 15.3% on a year-over-year basis. As a group, equities analysts forecast that DexCom will post 1.69 earnings per share for the current fiscal year.

Insider Buying and Selling at DexCom

In other DexCom news, EVP Sadie Stern sold 426 shares of the company’s stock in a transaction dated 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 transaction, 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Sadie Stern sold 426 shares of the 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 transaction, the executive vice president now owns 75,451 shares of the company’s stock, 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 document filed with the SEC, which is accessible through this hyperlink. Also, EVP Michael Jon Brown sold 652 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $69.55, for a total transaction of $45,346.60. Following the transaction, the executive vice president now directly owns 66,249 shares in the company, valued at $4,607,617.95. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,824 shares of company stock valued at $126,390 in the last ninety days. Insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On DexCom

A number of large investors have recently bought and sold shares of the business. New York State Teachers Retirement System lifted its holdings in DexCom by 1.6% in the third quarter. New York State Teachers Retirement System now owns 366,308 shares of the medical device company’s stock worth $24,557,000 after acquiring an additional 5,804 shares during the last quarter. Avitas Wealth Management LLC increased its stake in shares of DexCom by 20.2% in the third quarter. Avitas Wealth Management LLC now owns 6,475 shares of the medical device company’s stock valued at $434,000 after purchasing an additional 1,086 shares during the period. China Universal Asset Management Co. Ltd. increased its stake in shares of DexCom by 103.0% in the third quarter. China Universal Asset Management Co. Ltd. now owns 5,306 shares of the medical device company’s stock valued at $356,000 after purchasing an additional 2,692 shares during the period. abrdn plc increased its stake in shares of DexCom by 28.4% in the third quarter. abrdn plc now owns 384,646 shares of the medical device company’s stock valued at $25,842,000 after purchasing an additional 85,174 shares during the period. Finally, Semanteon Capital Management LP acquired a new stake in shares of DexCom in the third quarter valued at approximately $922,000. Institutional investors 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.