DexCom (NASDAQ:DXCM) Price Target Cut to $80.00 by Analysts at Wells Fargo & Company

DexCom (NASDAQ:DXCM) had its price target decreased by Wells Fargo & Company from $145.00 to $80.00 in a research note released on Friday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the medical device company’s stock.

Several other analysts have also issued reports on the stock. Citigroup lifted their target price on shares of DexCom from $148.00 to $161.00 and gave the company a buy rating in a research report on Wednesday, April 3rd. Raymond James raised their price target on shares of DexCom from $151.00 to $160.00 and gave the stock a strong-buy rating in a research note on Friday, April 26th. Redburn Atlantic started coverage on shares of DexCom in a research note on Thursday, May 30th. They issued a neutral rating and a $130.00 price target on the stock. Stifel Nicolaus decreased their price target on shares of DexCom from $145.00 to $132.00 and set a buy rating on the stock in a research note on Friday, July 12th. Finally, Morgan Stanley decreased their price target on shares of DexCom from $132.00 to $120.00 and set an equal weight rating on the stock in a research note on Monday, July 15th. Seven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, DexCom currently has a consensus rating of Moderate Buy and a consensus target price of $111.50.

DexCom Stock Up 5.4 %

Shares of NASDAQ DXCM opened at $67.48 on Friday. The company’s 50-day simple moving average is $114.02 and its 200-day simple moving average is $123.33. DexCom has a 52-week low of $62.34 and a 52-week high of $142.00. The firm has a market cap of $27.04 billion, a price-to-earnings ratio of 43.54, a price-to-earnings-growth ratio of 1.58 and a beta of 1.16. The company has a quick ratio of 2.48, a current ratio of 2.82 and a debt-to-equity ratio of 1.00.

DexCom (NASDAQ:DXCM) last announced its earnings results on Thursday, July 25th. The medical device company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.04. DexCom had a net margin of 16.95% and a return on equity of 31.41%. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter last year, the business earned $0.34 earnings per share. The company’s revenue for the quarter was up 15.3% compared to the same quarter last year. Equities analysts predict that DexCom will post 1.76 EPS for the current fiscal year.

Insider Buying and Selling at DexCom

In other DexCom news, Director Bridgette P. Heller sold 1,000 shares of DexCom stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $113.55, for a total transaction of $113,550.00. Following the completion of the sale, the director now directly owns 25,349 shares in the company, valued at $2,878,378.95. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other DexCom news, Director Bridgette P. Heller sold 1,000 shares of DexCom stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $113.55, for a total transaction of $113,550.00. Following the completion of the sale, the director now directly owns 25,349 shares in the company, valued at $2,878,378.95. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Jereme M. Sylvain sold 745 shares of DexCom stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $115.05, for a total transaction of $85,712.25. Following the sale, the chief financial officer now owns 84,948 shares of the company’s stock, valued at $9,773,267.40. The disclosure for this sale can be found here. Insiders sold a total of 3,483 shares of company stock worth $401,450 over the last three months. Insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Team Hewins LLC grew its holdings in shares of DexCom by 3.4% in the first 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 grew its holdings in shares of DexCom by 1.3% in the first 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 grew its holdings in shares of DexCom by 2.5% in the second 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. D Orazio & Associates Inc. grew its holdings in shares of DexCom by 0.8% in the fourth quarter. D Orazio & Associates Inc. now owns 12,366 shares of the medical device company’s stock valued at $1,534,000 after purchasing an additional 93 shares in the last quarter. Finally, Gulf International Bank UK Ltd grew its holdings in shares of DexCom by 0.3% in the first quarter. Gulf International Bank UK Ltd now owns 32,075 shares of the medical device company’s stock valued at $4,448,000 after purchasing an additional 93 shares in 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.