DexCom (NASDAQ:DXCM) Price Target Lowered to $120.00 at BTIG Research

DexCom (NASDAQ:DXCM) had its price objective reduced by research analysts at BTIG Research from $156.00 to $120.00 in a research report issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the medical device company’s stock. BTIG Research’s price objective suggests a potential upside of 87.62% from the company’s current price.

Several other research analysts also recently commented on the stock. Citigroup raised their price target on shares of DexCom from $148.00 to $161.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $145.00 price objective on shares of DexCom in a research report on Tuesday. Redburn Atlantic initiated coverage on DexCom in a research note on Thursday, May 30th. They set a “neutral” rating and a $130.00 target price on the stock. Stifel Nicolaus dropped their price target on DexCom from $132.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday. Finally, JPMorgan Chase & Co. lowered shares of DexCom from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $145.00 to $75.00 in a research report on Friday. Six analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $113.06.

DexCom Price Performance

Shares of NASDAQ:DXCM traded down $43.89 during mid-day trading on Friday, reaching $63.96. The stock had a trading volume of 51,609,000 shares, compared to its average volume of 3,262,117. The company has a market cap of $25.44 billion, a P/E ratio of 41.05, a price-to-earnings-growth ratio of 2.74 and a beta of 1.16. DexCom has a 1 year low of $62.34 and a 1 year high of $142.00. The business’s 50 day moving average price is $116.63 and its 200 day moving average price is $124.29. The company has a current ratio of 2.90, a quick ratio of 2.53 and a debt-to-equity ratio of 1.08.

DexCom (NASDAQ:DXCM) last released its earnings results on Thursday, July 25th. The medical device company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.04. DexCom had a return on equity of 31.01% and a net margin of 16.82%. The firm had revenue of $1 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the previous year, the company posted $0.34 EPS. The company’s revenue for the quarter was up 15.3% compared to the same quarter last year. Research analysts expect that DexCom will post 1.78 EPS for the current fiscal year.

Insider Buying and Selling

In other DexCom news, EVP Michael Jon Brown sold 659 shares of the stock in a transaction on Friday, June 28th. The shares were sold at an average price of $114.29, for a total transaction of $75,317.11. Following the transaction, the executive vice president now directly owns 66,901 shares of the company’s stock, valued at $7,646,115.29. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP Sadie Stern sold 427 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $115.05, for a total transaction of $49,126.35. Following the completion of the sale, the executive vice president now directly owns 75,877 shares in the company, valued at $8,729,648.85. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Michael Jon Brown sold 659 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $114.29, for a total transaction of $75,317.11. Following the completion of the transaction, the executive vice president now owns 66,901 shares in the company, valued at $7,646,115.29. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,112 shares of company stock valued at $480,861. 0.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. DSM Capital Partners LLC acquired a new position in shares of DexCom in the 4th quarter valued at $28,000. Crewe Advisors LLC purchased a new position in DexCom during the 1st quarter valued at about $29,000. Valley National Advisers Inc. lifted its position in shares of 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 acquiring an additional 103 shares in the last quarter. Riverview Trust Co acquired a new position in shares of DexCom in the first quarter valued at approximately $32,000. Finally, MV Capital Management Inc. lifted its stake in shares of DexCom by 99.3% during the fourth quarter. MV Capital Management Inc. now owns 277 shares of the medical device company’s stock valued at $34,000 after buying an additional 138 shares during the period. 97.75% of the stock is currently owned by hedge funds and other institutional investors.

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.