Royal Bank of Canada Cuts DexCom (NASDAQ:DXCM) Price Target to $115.00

DexCom (NASDAQ:DXCM) had its price objective trimmed by Royal Bank of Canada from $120.00 to $115.00 in a research report report published on Friday morning, Benzinga reports. The firm currently has an outperform rating on the medical device company’s stock.

Other research analysts also recently issued reports about the stock. JPMorgan Chase & Co. upped their target price on shares of DexCom from $75.00 to $85.00 and gave the company a “neutral” rating in a research note on Friday. BTIG Research reduced their price objective on shares of DexCom from $156.00 to $120.00 and set a “buy” rating on the stock in a research note on Friday, July 26th. Barclays reduced their price objective on shares of DexCom from $138.00 to $113.00 and set an “equal weight” rating on the stock in a research note on Monday, July 29th. Piper Sandler reiterated an “overweight” rating and set a $90.00 price objective on shares of DexCom in a research note on Monday, August 26th. Finally, Raymond James reduced their price objective on shares of DexCom from $115.00 to $99.00 and set a “strong-buy” rating on the stock in a research note on Friday. Six equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $104.59.

DexCom Price Performance

Shares of DXCM stock opened at $72.10 on Friday. The company has a market capitalization of $28.67 billion, a PE ratio of 46.69, a price-to-earnings-growth ratio of 2.26 and a beta of 1.18. The firm has a fifty day simple moving average of $70.11 and a 200-day simple moving average of $97.65. The company has a current ratio of 2.82, a quick ratio of 2.48 and a debt-to-equity ratio of 1.00. DexCom has a twelve month low of $62.34 and a twelve month high of $142.00.

Insider Buying and Selling

In related news, COO Jacob Steven Leach sold 746 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 value of $51,585.90. Following the sale, the chief operating officer now owns 264,915 shares of the company’s stock, valued at $18,318,872.25. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other DexCom news, COO Jacob Steven Leach sold 746 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $69.15, for a total transaction 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction, the executive vice president now directly owns 66,249 shares in the company, valued at approximately $4,607,617.95. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,824 shares of company stock valued at $126,390 in the last quarter. Company insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On DexCom

Large investors have recently bought and sold shares of the stock. Team Hewins LLC boosted its position in shares of DexCom by 3.4% during the 1st 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 in the last quarter. Bleakley Financial Group LLC boosted its position in shares of DexCom by 1.3% during the 1st 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 in the last quarter. Capital Insight Partners LLC boosted its position in shares of DexCom by 2.5% during the 2nd 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 in the last quarter. HM Payson & Co. boosted its position in shares of DexCom by 6.0% during the 1st quarter. HM Payson & Co. now owns 1,780 shares of the medical device company’s stock valued at $247,000 after purchasing an additional 100 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its position in shares of DexCom by 0.3% during the 1st 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 purchasing an additional 105 shares in the last quarter. Institutional investors and hedge funds own 97.75% of the company’s stock.

DexCom Company Profile

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.