DexCom (NASDAQ:DXCM) Given New $87.00 Price Target at Truist Financial

DexCom (NASDAQ:DXCM) had its target price upped by Truist Financial from $80.00 to $87.00 in a research report report published on Thursday morning, Marketbeat.com reports. They currently have a buy rating on the medical device company’s stock.

A number of other research firms also recently issued reports on DXCM. Bank of America cut their price target on DexCom from $100.00 to $80.00 and set a “buy” rating for the company in a research note on Monday, May 18th. Canaccord Genuity Group set a $82.00 price objective on shares of DexCom and gave the stock a “buy” rating in a report on Monday, May 18th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of DexCom in a research report on Tuesday, June 23rd. They set a “buy” rating and a $86.00 target price for the company. Raymond James Financial reiterated a “strong-buy” rating and issued a $91.00 price target on shares of DexCom in a research report on Monday, June 8th. Finally, Benchmark reiterated a “buy” rating on shares of DexCom in a research note on Tuesday, June 23rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $85.36.

DexCom Price Performance

DXCM stock opened at $77.98 on Thursday. DexCom has a 1 year low of $54.11 and a 1 year high of $89.98. The company has a market cap of $30.09 billion, a P/E ratio of 33.32, a PEG ratio of 1.20 and a beta of 1.45. The firm has a 50-day moving average of $70.83 and a 200 day moving average of $68.67. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.95 and a quick ratio of 1.64.

DexCom (NASDAQ:DXCM) last announced its earnings results on Thursday, April 30th. The medical device company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.09. The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.17 billion. DexCom had a net margin of 19.31% and a return on equity of 33.33%. The company’s quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.32 EPS. On average, sell-side analysts forecast that DexCom will post 2.57 EPS for the current year.

Insider Transactions at DexCom

In other news, EVP Jon Coleman sold 4,911 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $74.13, for a total transaction of $364,052.43. Following the transaction, the executive vice president owned 95,450 shares of the company’s stock, valued at approximately $7,075,708.50. This represents a 4.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Jon Brown sold 1,700 shares of DexCom stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $75.55, for a total transaction of $128,435.00. Following the sale, the executive vice president owned 106,353 shares of the company’s stock, valued at $8,034,969.15. The trade was a 1.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 71,750 shares of company stock worth $5,163,241. 0.28% of the stock is currently owned by corporate insiders.

Institutional Trading of DexCom

A number of hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC boosted its position in shares of DexCom by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 11,006,183 shares of the medical device company’s stock worth $727,842,000 after purchasing an additional 42,411 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in DexCom by 6.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,999,057 shares of the medical device company’s stock valued at $530,897,000 after buying an additional 516,526 shares in the last quarter. Norges Bank purchased a new stake in DexCom in the fourth quarter valued at about $483,356,000. Invesco Ltd. raised its stake in DexCom by 14.8% in the fourth quarter. Invesco Ltd. now owns 5,315,367 shares of the medical device company’s stock valued at $352,781,000 after buying an additional 686,228 shares during the last quarter. Finally, CIBC Private Wealth Group LLC boosted its holdings in DexCom by 7.6% in the fourth quarter. CIBC Private Wealth Group LLC now owns 3,128,114 shares of the medical device company’s stock worth $207,613,000 after acquiring an additional 220,313 shares in the last quarter. Hedge funds and other institutional investors own 97.75% of the company’s stock.

DexCom Company Profile

DexCom, Inc is a medical device company that develops, manufactures and distributes continuous glucose monitoring (CGM) systems for people with diabetes. Its products are designed to provide near real-time glucose readings, trend information and alerts to help patients and clinicians manage insulin dosing and reduce hypoglycemia and hyperglycemia. The company’s offerings combine wearable glucose sensors, wireless transmitters and software applications that deliver data to smartphones, dedicated receivers and cloud-based platforms for remote monitoring.

Founded in 1999 and headquartered in San Diego, California, DexCom has focused its business on advancing CGM technology and expanding clinical use beyond traditional insulin-dependent populations.