Citigroup Has Lowered Expectations for DexCom (NASDAQ:DXCM) Stock Price

DexCom (NASDAQ:DXCM) had its price objective dropped by Citigroup from $85.00 to $75.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the medical device company’s stock. Citigroup’s price objective would suggest a potential upside of 28.82% from the stock’s current price.

Other equities analysts have also issued research reports about the stock. Wall Street Zen lowered shares of DexCom from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 10th. Raymond James Financial increased their price target on DexCom from $99.00 to $102.00 and gave the company a “strong-buy” rating in a report on Thursday, July 31st. JPMorgan Chase & Co. lowered their price objective on DexCom from $90.00 to $75.00 and set a “neutral” rating for the company in a research note on Friday. The Goldman Sachs Group cut their target price on DexCom from $104.00 to $89.00 and set a “buy” rating on the stock in a research report on Wednesday, October 1st. Finally, Barclays raised their price target on shares of DexCom from $93.00 to $98.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 30th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $91.65.

DexCom Stock Performance

Shares of NASDAQ:DXCM opened at $58.22 on Friday. The business’s 50-day simple moving average is $70.94 and its 200 day simple moving average is $77.96. The company has a market cap of $22.83 billion, a P/E ratio of 40.43, a PEG ratio of 1.43 and a beta of 1.47. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.35 and a current ratio of 1.52. DexCom has a one year low of $56.44 and a one year high of $93.25.

DexCom (NASDAQ:DXCM) last issued its quarterly earnings data on Thursday, October 30th. The medical device company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.04. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.18 billion. DexCom had a net margin of 13.29% and a return on equity of 30.41%. DexCom’s revenue for the quarter was up 21.6% on a year-over-year basis. During the same quarter last year, the company earned $0.45 earnings per share. DexCom has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that DexCom will post 2.03 earnings per share for the current fiscal year.

Insider Transactions at DexCom

In other DexCom news, Director Kyle Malady sold 667 shares of DexCom stock in a transaction on Friday, September 5th. The shares were sold at an average price of $80.86, for a total value of $53,933.62. Following the completion of the transaction, the director owned 22,667 shares of the company’s stock, valued at $1,832,853.62. The trade was a 2.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Michael Jon Brown sold 500 shares of the business’s stock in a transaction on Friday, August 15th. The shares were sold at an average price of $80.29, for a total transaction of $40,145.00. Following the sale, the executive vice president owned 94,102 shares of the company’s stock, valued at approximately $7,555,449.58. The trade was a 0.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 5,383 shares of company stock valued at $434,274. Company insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On DexCom

Several institutional investors have recently made changes to their positions in the stock. Intact Investment Management Inc. raised its position in shares of DexCom by 102.9% during the 3rd quarter. Intact Investment Management Inc. now owns 33,890 shares of the medical device company’s stock worth $2,280,000 after purchasing an additional 17,190 shares during the period. MBM Wealth Consultants LLC increased its position in DexCom by 4.1% in the third quarter. MBM Wealth Consultants LLC now owns 9,228 shares of the medical device company’s stock worth $621,000 after buying an additional 361 shares during the period. Sector Gamma AS lifted its stake in DexCom by 53.6% in the third quarter. Sector Gamma AS now owns 76,821 shares of the medical device company’s stock valued at $5,169,000 after buying an additional 26,821 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in shares of DexCom by 29.8% during the third quarter. CIBC Asset Management Inc now owns 156,185 shares of the medical device company’s stock valued at $10,510,000 after acquiring an additional 35,824 shares during the period. Finally, GDS Wealth Management increased its holdings in shares of DexCom by 5.9% in the 3rd quarter. GDS Wealth Management now owns 200,452 shares of the medical device company’s stock worth $13,488,000 after acquiring an additional 11,134 shares during the period. 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.