JPMorgan Chase & Co. Increases DexCom (NASDAQ:DXCM) Price Target to $85.00

DexCom (NASDAQ:DXCM) had its price objective boosted by JPMorgan Chase & Co. from $75.00 to $85.00 in a report published on Friday morning, Benzinga reports. The brokerage currently has a neutral rating on the medical device company’s stock.

DXCM has been the topic of several other research reports. BTIG Research cut their price target on shares of DexCom from $156.00 to $120.00 and set a “buy” rating on the stock in a report on Friday, July 26th. Stifel Nicolaus raised their price objective on shares of DexCom from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Wells Fargo & Company increased their target price on DexCom from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday. 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. Finally, Royal Bank of Canada decreased their target price on DexCom from $130.00 to $120.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 8th. 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’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $104.59.

DexCom Stock Performance

Shares of DexCom stock opened at $73.44 on Friday. The firm has a market capitalization of $29.21 billion, a P/E ratio of 47.38, a PEG ratio of 2.26 and a beta of 1.18. 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 company has a 50 day moving average price of $70.11 and a 200 day moving average price of $97.95. DexCom has a 52 week low of $62.34 and a 52 week high of $142.00.

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

Insider Buying and Selling

In related news, COO Jacob Steven Leach sold 746 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $69.15, for a total transaction of $51,585.90. Following the completion of the sale, the chief operating officer now owns 264,915 shares in the company, valued at $18,318,872.25. The trade was 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 the SEC website. In other news, COO Jacob Steven Leach sold 746 shares of the business’s stock in a transaction that occurred 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 owns 264,915 shares of the company’s stock, valued at approximately $18,318,872.25. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Sadie Stern sold 426 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 75,451 shares in the company, valued at approximately $5,217,436.65. 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 worth $126,390 over the last 90 days. 0.30% of the stock is owned by insiders.

Institutional Trading of DexCom

Several large investors have recently bought and sold shares of the company. Team Hewins LLC grew its holdings in DexCom by 3.4% in the first quarter. Team Hewins LLC now owns 2,555 shares of the medical device company’s stock valued at $354,000 after purchasing an additional 83 shares during the last quarter. Bleakley Financial Group LLC grew its holdings in DexCom by 1.3% in the first quarter. Bleakley Financial Group LLC now owns 6,856 shares of the medical device company’s stock valued at $951,000 after purchasing an additional 87 shares during the last quarter. Capital Insight Partners LLC grew its holdings in DexCom by 2.5% in the second quarter. Capital Insight Partners LLC now owns 3,690 shares of the medical device company’s stock valued at $418,000 after purchasing an additional 90 shares during the last quarter. HM Payson & Co. lifted its position in shares of DexCom by 6.0% in the first quarter. HM Payson & Co. now owns 1,780 shares of the medical device company’s stock valued at $247,000 after acquiring an additional 100 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its position in shares of DexCom by 0.3% in the first quarter. State of Alaska Department of Revenue now owns 41,830 shares of the medical device company’s stock valued at $5,801,000 after acquiring an additional 105 shares in the last quarter. 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.