DexCom (NASDAQ:DXCM) Stock Price Expected to Rise, Morgan Stanley Analyst Says

DexCom (NASDAQ:DXCM) had its price target lifted by Morgan Stanley from $75.00 to $82.00 in a report published on Friday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the medical device company’s stock.

Other research analysts also recently issued research reports about the stock. Canaccord Genuity Group lifted their price target on shares of DexCom from $99.00 to $103.00 and gave the stock a “buy” rating in a research note on Friday. Redburn Atlantic raised shares of DexCom from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $85.00 to $115.00 in a research report on Monday, February 3rd. Citigroup increased their target price on DexCom from $85.00 to $91.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. StockNews.com downgraded DexCom from a “buy” rating to a “hold” rating in a report on Saturday, November 2nd. Finally, Sanford C. Bernstein increased their price objective on DexCom from $82.00 to $86.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $99.06.

DexCom Stock Up 5.9 %

DexCom stock opened at $89.07 on Friday. The firm has a market capitalization of $34.79 billion, a P/E ratio of 53.34, a P/E/G ratio of 2.26 and a beta of 1.14. The stock’s fifty day simple moving average is $82.44 and its 200-day simple moving average is $75.49. DexCom has a twelve month low of $62.34 and a twelve month high of $142.00. The company has a current ratio of 2.46, a quick ratio of 2.12 and a debt-to-equity ratio of 1.23.

DexCom (NASDAQ:DXCM) last issued its quarterly earnings results on Thursday, February 13th. The medical device company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.05). DexCom had a return on equity of 31.40% and a net margin of 17.22%. As a group, equities analysts expect that DexCom will post 1.69 earnings per share for the current fiscal year.

Insider Transactions at DexCom

In related news, EVP Sadie Stern sold 4,259 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $74.73, for a total transaction of $318,275.07. Following the transaction, the executive vice president now owns 71,192 shares of the company’s stock, valued at $5,320,178.16. This trade represents a 5.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Kevin R. Sayer sold 33,359 shares of the company’s stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $86.91, for a total value of $2,899,230.69. Following the sale, the chief executive officer now directly owns 319,037 shares of the company’s stock, valued at approximately $27,727,505.67. This represents a 9.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 42,342 shares of company stock worth $3,628,069. Insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On DexCom

Institutional investors have recently bought and sold shares of the company. Versant Capital Management Inc purchased a new stake in shares of DexCom in the fourth quarter valued at about $25,000. Private Trust Co. NA lifted its position in DexCom by 266.3% in the fourth quarter. Private Trust Co. NA now owns 337 shares of the medical device company’s stock valued at $26,000 after purchasing an additional 245 shares during the period. Riverview Trust Co boosted its holdings in DexCom by 100.4% in the 3rd quarter. Riverview Trust Co now owns 463 shares of the medical device company’s stock valued at $31,000 after purchasing an additional 232 shares in the last quarter. Optiver Holding B.V. acquired a new position in DexCom during the 4th quarter worth approximately $33,000. Finally, TD Private Client Wealth LLC raised its stake in shares of DexCom by 62.8% during the 4th quarter. TD Private Client Wealth LLC now owns 433 shares of the medical device company’s stock worth $34,000 after buying an additional 167 shares in 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.