DexCom (NASDAQ:DXCM) Price Target Raised to $87.00 at Truist Financial

DexCom (NASDAQ:DXCM) had its price objective lifted by stock analysts at Truist Financial from $80.00 to $87.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the medical device company’s stock. Truist Financial’s target price suggests a potential upside of 11.77% from the stock’s current price.

A number of other equities research analysts have also commented on DXCM. Evercore upgraded shares of DexCom from an “in-line” rating to an “outperform” rating and set a $90.00 price target for the company in a report on Tuesday, March 24th. Citigroup reiterated a “buy” rating and set a $84.00 target price (up from $79.00) on shares of DexCom in a report on Thursday, May 28th. UBS Group set a $95.00 target price on DexCom in a research note on Wednesday, June 10th. Bank of America lowered their price target on DexCom from $100.00 to $80.00 and set a “buy” rating for the company in a research report on Monday, May 18th. Finally, Benchmark reaffirmed a “buy” rating on shares of DexCom in a research note on Tuesday, June 23rd. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $85.36.

DexCom Price Performance

NASDAQ DXCM traded up $5.11 during trading hours on Thursday, reaching $77.84. 2,578,264 shares of the stock traded hands, compared to its average volume of 5,253,163. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.95 and a quick ratio of 1.64. The stock has a 50 day simple moving average of $70.49 and a two-hundred day simple moving average of $68.60. DexCom has a 1 year low of $54.11 and a 1 year high of $89.98. The company has a market cap of $30.04 billion, a price-to-earnings ratio of 33.26, a price-to-earnings-growth ratio of 1.22 and a beta of 1.45.

DexCom (NASDAQ:DXCM) last announced its quarterly earnings data on Thursday, April 30th. The medical device company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.09. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.17 billion. DexCom had a net margin of 19.31% and a return on equity of 33.33%. The firm’s revenue was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.32 EPS. On average, analysts predict that DexCom will post 2.57 EPS for the current fiscal year.

Insider Activity at DexCom

In other DexCom news, EVP Michael Jon Brown sold 1,700 shares of DexCom stock in a transaction on Monday, June 15th. The stock was sold at an average price of $75.55, for a total value of $128,435.00. Following the completion of the sale, the executive vice president owned 106,353 shares of the company’s stock, valued at approximately $8,034,969.15. This trade represents a 1.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kevin R. Sayer sold 26,756 shares of the stock in a transaction on Monday, July 6th. The shares were sold at an average price of $72.00, for a total value of $1,926,432.00. Following the sale, the insider directly owned 355,726 shares in the company, valued at $25,612,272. This trade represents a 7.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 71,750 shares of company stock worth $5,163,241 in the last ninety days. 0.28% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Gradient Investments LLC lifted its holdings in shares of DexCom by 13.8% during the 4th quarter. Gradient Investments LLC now owns 332,006 shares of the medical device company’s stock valued at $22,035,000 after purchasing an additional 40,343 shares during the last quarter. Nordea Investment Management AB increased its holdings in shares of DexCom by 118.6% during the 4th quarter. Nordea Investment Management AB now owns 254,315 shares of the medical device company’s stock valued at $16,988,000 after purchasing an additional 137,986 shares in the last quarter. Banque Pictet & Cie SA grew its position in shares of DexCom by 58.2% during the 4th quarter. Banque Pictet & Cie SA now owns 109,823 shares of the medical device company’s stock valued at $7,289,000 after acquiring an additional 40,411 shares during the period. Aberdeen Group plc grew its position in shares of DexCom by 9.0% in the fourth quarter. Aberdeen Group plc now owns 530,363 shares of the medical device company’s stock valued at $35,200,000 after purchasing an additional 43,990 shares during the period. Finally, Union Bancaire Privee UBP SA raised its stake in DexCom by 289.2% in the 4th quarter. Union Bancaire Privee UBP SA now owns 21,266 shares of the medical device company’s stock valued at $1,411,000 after purchasing an additional 15,802 shares during the last quarter. Institutional investors own 97.75% of the company’s stock.

DexCom Company Profile

DexCom, Inc is a medical device company that develops, manufactures and distributes continuous glucose monitoring (CGM) systems for people with diabetes. Its products are designed to provide near real-time glucose readings, trend information and alerts to help patients and clinicians manage insulin dosing and reduce hypoglycemia and hyperglycemia. The company’s offerings combine wearable glucose sensors, wireless transmitters and software applications that deliver data to smartphones, dedicated receivers and cloud-based platforms for remote monitoring.

Founded in 1999 and headquartered in San Diego, California, DexCom has focused its business on advancing CGM technology and expanding clinical use beyond traditional insulin-dependent populations.