DexCom (NASDAQ:DXCM) Price Target Cut to $131.00

DexCom (NASDAQ:DXCM) had its price target cut by analysts at Raymond James from $154.00 to $131.00 in a research report issued on Friday, Benzinga reports. The firm currently has a “strong-buy” rating on the medical device company’s stock. Raymond James’ target price suggests a potential upside of 35.96% from the stock’s previous close.

Several other equities research analysts have also recently commented on DXCM. Morgan Stanley started coverage on shares of DexCom in a research report on Tuesday, May 30th. They issued an “equal weight” rating and a $131.00 price objective on the stock. TheStreet cut shares of DexCom from a “b-” rating to a “c+” rating in a research report on Wednesday, September 6th. Canaccord Genuity Group boosted their price objective on shares of DexCom from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, July 28th. Barclays boosted their price objective on shares of DexCom from $115.00 to $138.00 and gave the company an “equal weight” rating in a research report on Monday, July 31st. Finally, Robert W. Baird cut their price target on shares of DexCom from $153.00 to $130.00 and set an “outperform” rating on the stock in a research report on Monday, August 21st. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $136.31.

DexCom Trading Down 5.1 %

Shares of NASDAQ DXCM opened at $96.35 on Friday. The company’s fifty day moving average is $115.60 and its 200-day moving average is $118.23. The stock has a market cap of $37.37 billion, a price-to-earnings ratio of 112.03, a P/E/G ratio of 1.99 and a beta of 1.12. DexCom has a twelve month low of $78.94 and a twelve month high of $139.55. The company has a quick ratio of 2.21, a current ratio of 2.42 and a debt-to-equity ratio of 1.16.

DexCom (NASDAQ:DXCM) last posted its quarterly earnings data on Thursday, July 27th. The medical device company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.22 by $0.12. The business had revenue of $871.30 million for the quarter, compared to analysts’ expectations of $841.16 million. DexCom had a net margin of 11.18% and a return on equity of 22.01%. The firm’s revenue was up 25.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.17 EPS. Equities research analysts predict that DexCom will post 1.23 EPS for the current year.

Insiders Place Their Bets

In other DexCom news, Director Steven Robert Pacelli sold 412 shares of the business’s stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $125.92, for a total transaction of $51,879.04. Following the transaction, the director now owns 131,862 shares of the company’s stock, valued at $16,604,063.04. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Steven Robert Pacelli sold 412 shares of the company’s stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $125.92, for a total value of $51,879.04. Following the transaction, the director now owns 131,862 shares of the company’s stock, valued at $16,604,063.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Sadie Stern sold 392 shares of the company’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $110.71, for a total value of $43,398.32. Following the completion of the transaction, the executive vice president now directly owns 81,682 shares in the company, valued at approximately $9,043,014.22. The disclosure for this sale can be found here. Insiders have sold a total of 9,550 shares of company stock valued at $1,189,620 over the last 90 days. 0.41% of the stock is currently owned by insiders.

Hedge Funds Weigh In On DexCom

Several institutional investors and hedge funds have recently made changes to their positions in DXCM. Bank Julius Baer & Co. Ltd Zurich grew its position in DexCom by 141,272.2% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 47,321,524 shares of the medical device company’s stock worth $6,081,289,000 after buying an additional 47,288,051 shares in the last quarter. Norges Bank acquired a new stake in DexCom during the fourth quarter worth approximately $421,378,000. 1832 Asset Management L.P. acquired a new stake in DexCom during the fourth quarter worth approximately $151,538,000. Clearbridge Investments LLC grew its position in DexCom by 304.3% during the first quarter. Clearbridge Investments LLC now owns 1,318,079 shares of the medical device company’s stock worth $674,329,000 after buying an additional 992,049 shares in the last quarter. Finally, Marshall Wace LLP grew its position in DexCom by 2,293.0% during the fourth quarter. Marshall Wace LLP now owns 979,856 shares of the medical device company’s stock worth $110,959,000 after buying an additional 938,909 shares in the last quarter. Institutional investors and hedge funds own 93.88% 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 for specific and permitted use cases, including non-medical device applications, medical device data analysis, integrated continuous glucose monitoring systems (iCGM) secondary display alarms, active patient monitoring, and treatment decisions; and Dexcom ONE, that is designed to replace finger stick blood glucose testing for diabetes treatment decisions.