Raymond James Boosts DexCom (NASDAQ:DXCM) Price Target to $160.00

DexCom (NASDAQ:DXCM) had its price target hoisted by investment analysts at Raymond James from $151.00 to $160.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a “strong-buy” rating on the medical device company’s stock. Raymond James’ target price would suggest a potential upside of 27.20% from the stock’s current price.

A number of other equities research analysts have also weighed in on the stock. StockNews.com lowered shares of DexCom from a “buy” rating to a “hold” rating in a research note on Tuesday. UBS Group increased their target price on DexCom from $153.00 to $163.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Citigroup raised their price objective on shares of DexCom from $148.00 to $161.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Royal Bank of Canada began coverage on shares of DexCom in a research note on Tuesday, March 12th. They set an “outperform” rating and a $165.00 price target on the stock. Finally, Canaccord Genuity Group upped their price objective on DexCom from $144.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $141.67.

DexCom Stock Down 8.9 %

DexCom stock traded down $12.22 during trading hours on Friday, hitting $125.79. The stock had a trading volume of 5,428,794 shares, compared to its average volume of 3,006,353. The stock’s 50-day moving average price is $130.98 and its 200-day moving average price is $118.02. DexCom has a 12-month low of $74.75 and a 12-month high of $142.00. The company has a quick ratio of 2.48, a current ratio of 2.84 and a debt-to-equity ratio of 1.18. The stock has a market capitalization of $49.82 billion, a P/E ratio of 97.41, a price-to-earnings-growth ratio of 2.37 and a beta of 1.20.

DexCom (NASDAQ:DXCM) last released its quarterly earnings data on Thursday, April 25th. The medical device company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.05. The business had revenue of $921.00 million for the quarter, compared to analysts’ expectations of $911.20 million. DexCom had a return on equity of 28.31% and a net margin of 14.95%. Equities research analysts anticipate that DexCom will post 1.76 EPS for the current fiscal year.

Insider Transactions at DexCom

In other news, EVP Matthew Vincent Dolan sold 1,990 shares of the business’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $137.81, for a total value of $274,241.90. Following the completion of the sale, the executive vice president now owns 42,377 shares in the company, valued at approximately $5,839,974.37. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other DexCom news, EVP Matthew Vincent Dolan sold 1,990 shares of DexCom stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $137.81, for a total value of $274,241.90. Following the transaction, the executive vice president now owns 42,377 shares in the company, valued at $5,839,974.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael Jon Brown sold 2,624 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $140.04, for a total transaction of $367,464.96. Following the completion of the sale, the executive vice president now owns 68,682 shares in the company, valued at $9,618,227.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 189,375 shares of company stock worth $25,530,859. 0.41% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of DXCM. DSM Capital Partners LLC purchased a new stake in shares of DexCom in the 4th quarter valued at approximately $28,000. Valley National Advisers Inc. raised its position in DexCom by 73.0% in the fourth quarter. Valley National Advisers Inc. now owns 244 shares of the medical device company’s stock valued at $30,000 after purchasing an additional 103 shares during the period. Riverview Trust Co acquired a new position in shares of DexCom in the 1st quarter valued at $32,000. MV Capital Management Inc. grew its holdings in shares of DexCom by 99.3% during the 4th quarter. MV Capital Management Inc. now owns 277 shares of the medical device company’s stock worth $34,000 after purchasing an additional 138 shares during the period. Finally, Smithfield Trust Co increased its position in shares of DexCom by 103.1% during the 4th quarter. Smithfield Trust Co now owns 325 shares of the medical device company’s stock worth $40,000 after purchasing an additional 165 shares during 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.