Morgan Stanley Trims DexCom (NASDAQ:DXCM) Target Price to $75.00

DexCom (NASDAQ:DXCM) had its target price cut by Morgan Stanley from $120.00 to $75.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have an equal weight rating on the medical device company’s stock.

Other analysts have also issued reports about the stock. Royal Bank of Canada lowered their price objective on shares of DexCom from $165.00 to $145.00 and set an outperform rating for the company in a research note on Friday. Canaccord Genuity Group reiterated a buy rating and issued a $145.00 target price on shares of DexCom in a report on Tuesday, July 23rd. Citigroup boosted their target price on shares of DexCom from $148.00 to $161.00 and gave the stock a buy rating in a report on Wednesday, April 3rd. Raymond James boosted their target price on shares of DexCom from $151.00 to $160.00 and gave the stock a strong-buy rating in a report on Friday, April 26th. Finally, Wells Fargo & Company cut their price objective on shares of DexCom from $145.00 to $80.00 and set an overweight rating on the stock in a report on Friday. Seven equities 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 company’s stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $111.50.

DexCom Stock Up 5.4 %

NASDAQ:DXCM opened at $67.48 on Friday. DexCom has a 1-year low of $62.34 and a 1-year high of $142.00. The company has a 50-day moving average of $114.02 and a 200 day moving average of $123.33. The firm has a market cap of $27.04 billion, a PE ratio of 43.54, a price-to-earnings-growth ratio of 1.58 and a beta of 1.16. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.82 and a quick ratio of 2.48.

DexCom (NASDAQ:DXCM) last released its quarterly earnings data on Thursday, July 25th. The medical device company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.04. DexCom had a net margin of 16.95% and a return on equity of 31.41%. The company had revenue of $1 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period in the prior year, the firm earned $0.34 earnings per share. The firm’s revenue for the quarter was up 15.3% compared to the same quarter last year. As a group, research analysts anticipate that DexCom will post 1.76 EPS for the current fiscal year.

Insiders Place Their Bets

In other DexCom news, Director Bridgette P. Heller sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $113.55, for a total value of $113,550.00. Following the sale, the director now owns 25,349 shares in the company, valued at approximately $2,878,378.95. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other 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 transaction of $75,317.11. Following the transaction, the executive vice president now owns 66,901 shares in the company, valued at approximately $7,646,115.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Bridgette P. Heller sold 1,000 shares of the stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $113.55, for a total value of $113,550.00. Following the transaction, the director now owns 25,349 shares in the company, valued at approximately $2,878,378.95. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,483 shares of company stock worth $401,450. Corporate insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Team Hewins LLC lifted its position in shares of DexCom by 3.4% during the 1st quarter. Team Hewins LLC now owns 2,555 shares of the medical device company’s stock valued at $354,000 after buying an additional 83 shares in the last quarter. Bleakley Financial Group LLC raised its stake in DexCom by 1.3% in the 1st 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 during the last quarter. Capital Insight Partners LLC raised its stake in DexCom by 2.5% in the 2nd 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 during the last quarter. D Orazio & Associates Inc. raised its stake in DexCom by 0.8% in the 4th 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 during the last quarter. Finally, Gulf International Bank UK Ltd raised its stake in DexCom by 0.3% in the 1st 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 during the last quarter. Hedge funds and other institutional investors 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.