DexCom (NASDAQ:DXCM) Price Target Raised to $107.00

DexCom (NASDAQ:DXCM) had its price target increased by UBS Group from $102.00 to $107.00 in a research report sent to investors on Friday,Benzinga reports. UBS Group currently has a buy rating on the medical device company’s stock.

A number of other equities research analysts have also weighed in on DXCM. Piper Sandler restated an “overweight” rating and set a $95.00 price target (up from $88.00) on shares of DexCom in a research note on Friday, July 31st. Argus lifted their target price on shares of DexCom from $86.00 to $96.00 and gave the stock a “buy” rating in a research note on Tuesday, August 4th. Wells Fargo & Company boosted their target price on shares of DexCom from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Robert W. Baird set a $105.00 price target on shares of DexCom in a research note on Friday, July 31st. Finally, Mizuho set a $100.00 price target on shares of DexCom in a research note on Tuesday, October 13th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $93.70.

DexCom Stock Performance

Shares of DXCM opened at $82.29 on Friday. DexCom has a 12 month low of $54.11 and a 12 month high of $92.59. The stock has a fifty day moving average price of $85.82 and a 200-day moving average price of $74.65. The company has a current ratio of 1.74, a quick ratio of 1.40 and a debt-to-equity ratio of 0.49. The firm has a market cap of $30.69 billion, a PE ratio of 32.27, a P/E/G ratio of 1.37 and a beta of 1.45.

DexCom (NASDAQ:DXCM) last posted its quarterly earnings data on Thursday, October 29th. The medical device company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.05. DexCom had a return on equity of 37.77% and a net margin of 19.42%. The firm had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter last year, the firm earned $0.61 EPS. The business’s quarterly revenue was up 11.1% on a year-over-year basis. Equities research analysts predict that DexCom will post 2.67 earnings per share for the current fiscal year.

Insider Transactions at DexCom

In related news, Director Nicholas Augustinos sold 6,539 shares of DexCom stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $84.04, for a total transaction of $549,537.56. Following the completion of the sale, the director owned 29,293 shares of the company’s stock, valued at $2,461,783.72. The trade was a 18.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jereme M. Sylvain sold 3,638 shares of the company’s stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $83.27, for a total value of $302,936.26. Following the completion of the sale, the executive vice president owned 146,828 shares in the company, valued at approximately $12,226,367.56. This represents a 2.42% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 22,822 shares of company stock valued at $1,920,193. 0.28% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Chicago Partners Investment Group LLC boosted its holdings in DexCom by 3.9% during the third quarter. Chicago Partners Investment Group LLC now owns 10,817 shares of the medical device company’s stock worth $843,000 after buying an additional 409 shares in the last quarter. Covestor Ltd lifted its position in shares of DexCom by 79.6% in the third quarter. Covestor Ltd now owns 1,282 shares of the medical device company’s stock valued at $111,000 after acquiring an additional 568 shares in the last quarter. Caldwell Trust Co boosted its stake in DexCom by 1.8% during the 3rd quarter. Caldwell Trust Co now owns 13,732 shares of the medical device company’s stock worth $1,185,000 after purchasing an additional 241 shares during the last quarter. Rakuten Investment Management Inc. grew its stake in DexCom by 8.7% during the 3rd quarter. Rakuten Investment Management Inc. now owns 101,020 shares of the medical device company’s stock valued at $8,752,000 after acquiring an additional 8,108 shares in the last quarter. Finally, Factory Mutual Insurance Co. lifted its position in DexCom by 4.8% during the third quarter. Factory Mutual Insurance Co. now owns 563,383 shares of the medical device company’s stock worth $48,614,000 after buying an additional 25,553 shares in the last quarter. 97.75% of the stock is currently owned by institutional investors and hedge funds.

DexCom Company Profile

DexCom, Inc develops and commercializes continuous glucose monitoring (CGM) systems for people with diabetes. Its devices use a small wearable sensor to measure glucose levels in real time and transmit readings to compatible smartphones, receivers, smartwatches, and other connected devices, helping users monitor glucose trends and make informed decisions about their health.

The company’s product portfolio includes the Dexcom G7 and Dexcom G6 CGM systems, as well as Dexcom ONE and Dexcom ONE+ products offered in select markets.