DexCom (NASDAQ:DXCM) Price Target Raised to $89.00

DexCom (NASDAQ:DXCM) had its target price raised by Morgan Stanley from $82.00 to $89.00 in a research report sent to investors on Tuesday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the medical device company’s stock.

Several other research firms have also issued reports on DXCM. Wall Street Zen lowered DexCom from a “buy” rating to a “hold” rating in a research note on Sunday, June 29th. Mizuho started coverage on DexCom in a research note on Thursday, April 10th. They issued an “outperform” rating and a $85.00 price target on the stock. Piper Sandler reduced their price objective on shares of DexCom from $100.00 to $90.00 and set an “overweight” rating on the stock in a research note on Friday, May 2nd. The Goldman Sachs Group began coverage on DexCom in a report on Friday, May 30th. They set a “buy” rating and a $104.00 target price on the stock. Finally, Canaccord Genuity Group lifted their price target on shares of DexCom from $103.00 to $106.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. Five equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $99.60.

DexCom Stock Down 0.0%

Shares of DXCM stock opened at $84.10 on Tuesday. The firm has a market cap of $32.98 billion, a PE ratio of 62.76, a price-to-earnings-growth ratio of 1.79 and a beta of 1.44. DexCom has a 12 month low of $57.52 and a 12 month high of $116.35. The stock has a 50 day moving average of $84.51 and a 200-day moving average of $80.13. The company has a quick ratio of 1.32, a current ratio of 1.50 and a debt-to-equity ratio of 0.55.

DexCom (NASDAQ:DXCM) last posted its quarterly earnings results on Thursday, May 1st. The medical device company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.01). The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.02 billion. DexCom had a net margin of 12.90% and a return on equity of 30.05%. The company’s revenue was up 12.5% on a year-over-year basis. During the same period last year, the company earned $0.32 EPS. On average, equities analysts predict that DexCom will post 2.03 EPS for the current year.

Insiders Place Their Bets

In other DexCom news, Director Nicholas Augustinos sold 3,672 shares of DexCom stock in a transaction on Monday, June 16th. The shares were sold at an average price of $82.80, for a total transaction of $304,041.60. Following the completion of the transaction, the director directly owned 33,411 shares of the company’s stock, valued at $2,766,430.80. The trade was a 9.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mark G. Foletta sold 2,750 shares of the stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $83.13, for a total transaction of $228,607.50. Following the completion of the transaction, the director directly owned 56,621 shares in the company, valued at approximately $4,706,903.73. This represents a 4.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,190 shares of company stock worth $2,281,732 in the last three months. 0.32% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On DexCom

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of DexCom by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 47,455,899 shares of the medical device company’s stock worth $3,240,763,000 after purchasing an additional 925,882 shares in the last quarter. Jennison Associates LLC grew its holdings in DexCom by 37.7% during the 1st quarter. Jennison Associates LLC now owns 10,523,246 shares of the medical device company’s stock worth $718,632,000 after acquiring an additional 2,879,489 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in DexCom by 22.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 10,123,525 shares of the medical device company’s stock valued at $691,336,000 after purchasing an additional 1,868,241 shares during the period. Geode Capital Management LLC increased its stake in shares of DexCom by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 9,993,698 shares of the medical device company’s stock valued at $775,256,000 after buying an additional 56,094 shares during the period. Finally, Nuveen LLC acquired a new stake in DexCom during the 1st quarter valued at approximately $554,893,000. 97.75% of the stock is owned by institutional investors.

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.