DexCom (NASDAQ:DXCM) Price Target Cut to $95.00 by Analysts at UBS Group

DexCom (NASDAQ:DXCM) had its target price reduced by UBS Group from $163.00 to $95.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have a buy rating on the medical device company’s stock.

DXCM has been the topic of several other research reports. Wells Fargo & Company cut their price target on shares of DexCom from $145.00 to $80.00 and set an overweight rating on the stock in a report on Friday. Stifel Nicolaus reduced their price target on DexCom from $132.00 to $90.00 and set a buy rating for the company in a report on Friday. Citigroup boosted 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. Robert W. Baird lowered DexCom from an outperform rating to a neutral rating and decreased their target price for the stock from $161.00 to $80.00 in a research report on Friday. Finally, Canaccord Genuity Group reissued a buy rating and set a $145.00 price target on shares of DexCom in a report on Tuesday. Seven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $113.06.

DexCom Stock Performance

Shares of DexCom stock opened at $64.00 on Friday. The business has a 50-day moving average price of $115.28 and a two-hundred day moving average price of $123.83. DexCom has a 1-year low of $62.34 and a 1-year high of $142.00. The company has a market cap of $25.45 billion, a P/E ratio of 41.29, a PEG ratio of 2.64 and a beta of 1.16. 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 quarterly earnings data on Thursday, July 25th. The medical device company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.04. DexCom had a return on equity of 32.27% and a net margin of 16.95%. The company had revenue of $1 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period in the previous year, the company posted $0.34 EPS. The firm’s revenue for the quarter was up 15.3% compared to the same quarter last year. As a group, analysts anticipate that DexCom will post 1.78 EPS for the current year.

Insider Transactions at DexCom

In other DexCom news, EVP Michael Jon Brown sold 659 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $114.29, for a total value of $75,317.11. Following the completion of the sale, the executive vice president now directly owns 66,901 shares of the company’s stock, valued at approximately $7,646,115.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Michael Jon Brown sold 659 shares of the stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $114.29, for a total value of $75,317.11. Following the completion of the transaction, the executive vice president now directly owns 66,901 shares in the company, valued at $7,646,115.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Sadie Stern sold 427 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $115.05, for a total value of $49,126.35. Following the completion of the transaction, the executive vice president now directly owns 75,877 shares in the company, valued at approximately $8,729,648.85. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,112 shares of company stock valued at $480,861. Corporate insiders own 0.30% of the company’s stock.

Institutional Investors Weigh In On DexCom

Institutional investors have recently made changes to their positions in the stock. Bank of New Hampshire acquired a new stake in DexCom in the 1st quarter valued at approximately $1,508,000. abrdn plc boosted its position in shares of DexCom by 21.1% during the fourth quarter. abrdn plc now owns 380,535 shares of the medical device company’s stock worth $47,221,000 after buying an additional 66,348 shares during the period. Cerity Partners LLC grew its stake in shares of DexCom by 5,791.0% in the fourth quarter. Cerity Partners LLC now owns 463,973 shares of the medical device company’s stock valued at $57,574,000 after buying an additional 456,097 shares in the last quarter. Eagle Asset Management Inc. raised its holdings in shares of DexCom by 21.5% in the 4th quarter. Eagle Asset Management Inc. now owns 1,756,216 shares of the medical device company’s stock valued at $217,929,000 after buying an additional 310,728 shares during the period. Finally, Alberta Investment Management Corp lifted its stake in DexCom by 27.0% during the 4th quarter. Alberta Investment Management Corp now owns 323,335 shares of the medical device company’s stock worth $40,123,000 after acquiring an additional 68,723 shares in the last quarter. 97.75% of the stock is currently owned by institutional investors and hedge funds.

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.