Morgan Stanley Trims DexCom (NASDAQ:DXCM) Target Price to $120.00

DexCom (NASDAQ:DXCM) had its target price decreased by Morgan Stanley from $132.00 to $120.00 in a report released on Monday morning, Benzinga reports. Morgan Stanley currently has an equal weight rating on the medical device company’s stock.

Several other equities research analysts have also weighed in on DXCM. Stifel Nicolaus cut their target price on shares of DexCom from $145.00 to $132.00 and set a buy rating on the stock in a report on Friday, July 12th. UBS Group increased their target price on shares of DexCom from $153.00 to $163.00 and gave the stock a buy rating in a report on Wednesday, April 10th. Redburn Atlantic started coverage on shares of DexCom in a report on Thursday, May 30th. They issued a neutral rating and a $130.00 target price on the stock. Raymond James increased 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, Citigroup increased 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. Four equities research 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 data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $139.33.

DexCom Price Performance

Shares of DXCM stock opened at $114.61 on Monday. DexCom has a 52-week low of $74.75 and a 52-week high of $142.00. The stock has a market cap of $45.58 billion, a PE ratio of 73.94, a PEG ratio of 2.76 and a beta of 1.16. The company has a debt-to-equity ratio of 1.08, a quick ratio of 2.53 and a current ratio of 2.90. The firm’s 50 day moving average price is $118.66 and its two-hundred day moving average price is $124.79.

DexCom (NASDAQ:DXCM) last announced its quarterly earnings data on Thursday, April 25th. The medical device company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. DexCom had a net margin of 16.82% and a return on equity of 31.01%. The firm had revenue of $921.00 million for the quarter, compared to analysts’ expectations of $911.20 million. As a group, analysts forecast that DexCom will post 1.78 EPS for the current 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 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 sale, the director now directly owns 25,349 shares in the company, valued at approximately $2,878,378.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other 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 value of $113,550.00. Following the completion of the transaction, the director now owns 25,349 shares of the company’s stock, valued at approximately $2,878,378.95. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Michael Jon Brown sold 629 shares of DexCom stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $126.25, for a total transaction of $79,411.25. Following the completion of the transaction, the executive vice president now directly owns 68,212 shares of the company’s stock, valued at approximately $8,611,765. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,112 shares of company stock worth $480,861. Insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of DexCom by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 44,603,745 shares of the medical device company’s stock worth $6,186,539,000 after buying an additional 136,282 shares during the period. Capital Research Global Investors boosted its holdings in shares of DexCom by 21.4% during the 4th quarter. Capital Research Global Investors now owns 15,296,032 shares of the medical device company’s stock worth $1,898,085,000 after buying an additional 2,695,296 shares during the period. Sands Capital Management LLC boosted its holdings in shares of DexCom by 10.2% during the 4th quarter. Sands Capital Management LLC now owns 15,058,806 shares of the medical device company’s stock worth $1,868,647,000 after buying an additional 1,398,136 shares during the period. Capital World Investors boosted its holdings in shares of DexCom by 130.7% during the 4th quarter. Capital World Investors now owns 9,278,685 shares of the medical device company’s stock worth $1,151,392,000 after buying an additional 5,256,092 shares during the period. Finally, Artisan Partners Limited Partnership boosted its holdings in shares of DexCom by 164.8% during the 4th quarter. Artisan Partners Limited Partnership now owns 5,900,308 shares of the medical device company’s stock worth $732,169,000 after buying an additional 3,672,471 shares during the period. 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.