DexCom (NASDAQ:DXCM) Stock Price Expected to Rise, Citigroup Analyst Says

DexCom (NASDAQ:DXCM) had its price target boosted by research analysts at Citigroup from $85.00 to $91.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the medical device company’s stock. Citigroup’s price objective points to a potential upside of 15.29% from the stock’s previous close.

DXCM has been the topic of a number of other reports. Royal Bank of Canada decreased their price target on DexCom from $120.00 to $115.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. StockNews.com lowered DexCom from a “buy” rating to a “hold” rating in a research note on Saturday, November 2nd. Raymond James decreased their price target on DexCom from $115.00 to $99.00 and set a “strong-buy” rating on the stock in a research note on Friday, October 25th. JPMorgan Chase & Co. lifted their price objective on DexCom from $75.00 to $85.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Finally, Canaccord Genuity Group lifted their price objective on DexCom from $89.00 to $99.00 and gave the company a “buy” rating in a research note on Monday. Seven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, DexCom presently has a consensus rating of “Moderate Buy” and a consensus price target of $98.00.

DexCom Stock Down 1.9 %

Shares of NASDAQ:DXCM opened at $78.93 on Wednesday. The stock’s 50-day moving average price is $73.58 and its two-hundred day moving average price is $84.99. The company has a current ratio of 2.46, a quick ratio of 2.12 and a debt-to-equity ratio of 1.23. DexCom has a 12-month low of $62.34 and a 12-month high of $142.00. The firm has a market cap of $30.83 billion, a price-to-earnings ratio of 47.26, a PEG ratio of 2.38 and a beta of 1.12.

Insider Activity at DexCom

In other DexCom news, EVP Sadie Stern sold 4,259 shares of DexCom stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $74.73, for a total transaction of $318,275.07. Following the sale, the executive vice president now directly owns 71,192 shares in the company, valued at $5,320,178.16. The trade was a 5.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.30% of the company’s stock.

Institutional Investors Weigh In On DexCom

Several hedge funds and other institutional investors have recently bought and sold shares of DXCM. Tidal Investments LLC increased its holdings in shares of DexCom by 68.0% in the 3rd quarter. Tidal Investments LLC now owns 36,742 shares of the medical device company’s stock valued at $2,463,000 after acquiring an additional 14,872 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in DexCom during the 3rd quarter worth $381,000. World Investment Advisors LLC acquired a new stake in shares of DexCom in the third quarter valued at $2,351,000. Sanctuary Advisors LLC lifted its holdings in shares of DexCom by 32.2% in the third quarter. Sanctuary Advisors LLC now owns 14,835 shares of the medical device company’s stock valued at $1,080,000 after buying an additional 3,615 shares during the period. Finally, Pine Valley Investments Ltd Liability Co raised its position in shares of DexCom by 59.2% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 5,679 shares of the medical device company’s stock worth $381,000 after purchasing an additional 2,111 shares during the period. 97.75% of the stock is currently owned by hedge funds and other 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.