DexCom (NASDAQ:DXCM) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

DexCom (NASDAQ:DXCM) had its price objective boosted by Wells Fargo & Company from $90.00 to $94.00 in a report published on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the medical device company’s stock.

A number of other analysts also recently issued reports on DXCM. Raymond James cut their price target on shares of DexCom from $115.00 to $99.00 and set a “strong-buy” rating for the company in a report on Friday, October 25th. Piper Sandler reissued an “overweight” rating and issued a $90.00 target price on shares of DexCom in a research report on Monday, August 26th. Sanford C. Bernstein increased their price target on shares of DexCom from $82.00 to $86.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. lifted their target price on DexCom from $75.00 to $85.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Finally, Oppenheimer decreased their price target on shares of DexCom from $115.00 to $105.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Seven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $98.00.

DexCom Trading Down 2.2 %

Shares of DXCM opened at $77.19 on Wednesday. The company has a current ratio of 2.46, a quick ratio of 2.12 and a debt-to-equity ratio of 1.23. The firm has a 50-day moving average price of $73.58 and a 200 day moving average price of $84.99. DexCom has a 12-month low of $62.34 and a 12-month high of $142.00. The firm has a market capitalization of $30.15 billion, a P/E ratio of 46.34, a P/E/G ratio of 2.46 and a beta of 1.12.

Insider Activity at DexCom

In other news, EVP Sadie Stern sold 4,259 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $74.73, for a total transaction of $318,275.07. Following the completion of the sale, the executive vice president now owns 71,192 shares in the company, valued at approximately $5,320,178.16. This represents a 5.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Jennison Associates LLC increased its stake in shares of DexCom by 1,683.2% during the third quarter. Jennison Associates LLC now owns 6,932,899 shares of the medical device company’s stock worth $464,782,000 after acquiring an additional 6,544,102 shares during the period. Westfield Capital Management Co. LP boosted its holdings in DexCom by 44.6% in the 3rd quarter. Westfield Capital Management Co. LP now owns 2,842,057 shares of the medical device company’s stock valued at $190,532,000 after purchasing an additional 876,739 shares in the last quarter. Two Sigma Advisers LP increased its position in DexCom by 182.7% during the 3rd quarter. Two Sigma Advisers LP now owns 1,143,476 shares of the medical device company’s stock worth $76,659,000 after purchasing an additional 739,000 shares during the period. Canada Pension Plan Investment Board raised its stake in shares of DexCom by 189.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 665,646 shares of the medical device company’s stock worth $75,471,000 after buying an additional 435,401 shares in the last quarter. Finally, Intech Investment Management LLC lifted its holdings in shares of DexCom by 2,083.0% in the 3rd quarter. Intech Investment Management LLC now owns 387,330 shares of the medical device company’s stock valued at $25,967,000 after buying an additional 369,587 shares during the period. 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.