DexCom (NASDAQ:DXCM) Price Target Raised to $104.00

DexCom (NASDAQ:DXCM) had its price objective hoisted by Citigroup from $101.00 to $104.00 in a research note published on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the medical device company’s stock.

A number of other analysts also recently issued reports on DXCM. Redburn Atlantic raised shares of DexCom from a “neutral” rating to a “buy” rating and increased their price target for the stock from $85.00 to $115.00 in a report on Monday, February 3rd. Baird R W raised shares of DexCom from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 16th. Canaccord Genuity Group increased their price target on shares of DexCom from $99.00 to $103.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Wells Fargo & Company increased their price target on shares of DexCom from $90.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Finally, Morgan Stanley increased their price target on shares of DexCom from $75.00 to $82.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, DexCom presently has a consensus rating of “Moderate Buy” and a consensus target price of $99.82.

DexCom Stock Down 3.0 %

DXCM stock opened at $79.51 on Tuesday. The firm’s fifty day simple moving average is $84.88 and its 200-day simple moving average is $76.96. The company has a market capitalization of $31.07 billion, a P/E ratio of 55.60, a price-to-earnings-growth ratio of 2.30 and a beta of 1.14. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.47 and a quick ratio of 1.28. DexCom has a 12 month low of $62.34 and a 12 month high of $142.00.

DexCom (NASDAQ:DXCM) last released its quarterly earnings data on Thursday, February 13th. The medical device company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.05). DexCom had a net margin of 14.29% and a return on equity of 30.14%. As a group, equities research analysts forecast that DexCom will post 2.03 earnings per share for the current year.

Insider Activity

In related news, EVP Jereme M. Sylvain sold 2,090 shares of the company’s stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $86.91, for a total value of $181,641.90. Following the completion of the sale, the executive vice president now owns 83,526 shares of the company’s stock, valued at approximately $7,259,244.66. This represents a 2.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Kevin R. Sayer sold 33,359 shares of the company’s stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $86.91, for a total transaction of $2,899,230.69. Following the completion of the sale, the chief executive officer now directly owns 319,037 shares of the company’s stock, valued at $27,727,505.67. This represents a 9.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,083 shares of company stock worth $3,309,794 over the last three months. Insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC boosted its stake in DexCom by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 9,993,698 shares of the medical device company’s stock worth $775,256,000 after buying an additional 56,094 shares during the period. Jennison Associates LLC boosted its stake in DexCom by 10.3% during the fourth quarter. Jennison Associates LLC now owns 7,643,757 shares of the medical device company’s stock worth $594,455,000 after buying an additional 710,858 shares during the period. Norges Bank purchased a new position in DexCom during the fourth quarter worth about $385,367,000. Northern Trust Corp boosted its stake in DexCom by 22.2% during the fourth quarter. Northern Trust Corp now owns 4,146,249 shares of the medical device company’s stock worth $322,454,000 after buying an additional 753,857 shares during the period. Finally, Groupama Asset Managment boosted its stake in DexCom by 1.1% during the third quarter. Groupama Asset Managment now owns 2,851,556 shares of the medical device company’s stock worth $1,912,000 after buying an additional 31,358 shares during the period. Hedge funds and other institutional investors own 97.75% of the company’s stock.

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.