Morgan Stanley Boosts DexCom (NASDAQ:DXCM) Price Target to $82.00

DexCom (NASDAQ:DXCM) had its target price boosted by stock analysts at Morgan Stanley from $75.00 to $82.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the medical device company’s stock. Morgan Stanley’s price objective suggests a potential downside of 7.94% from the company’s previous close.

A number of other analysts have also recently issued reports on DXCM. Citigroup raised their price objective on DexCom from $85.00 to $91.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Wells Fargo & Company lifted their price target on DexCom from $90.00 to $94.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. JPMorgan Chase & Co. raised their price objective on DexCom from $75.00 to $85.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Oppenheimer cut their price objective on DexCom from $115.00 to $105.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Finally, Leerink Partners cut their price objective on DexCom from $90.00 to $87.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $99.06.

DexCom Stock Performance

DXCM opened at $89.07 on Friday. The stock’s 50 day simple moving average is $82.44 and its 200-day simple moving average is $75.44. The company has a current ratio of 2.46, a quick ratio of 2.12 and a debt-to-equity ratio of 1.23. The stock has a market cap of $34.79 billion, a PE ratio of 53.34, a P/E/G ratio of 2.26 and a beta of 1.14. DexCom has a 1 year low of $62.34 and a 1 year high of $142.00.

DexCom (NASDAQ:DXCM) last issued its quarterly earnings results on Thursday, February 13th. The medical device company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.05). DexCom had a net margin of 17.22% and a return on equity of 31.40%. Sell-side analysts forecast that DexCom will post 1.69 EPS for the current year.

Insider Buying and Selling at DexCom

In other news, EVP Jereme M. Sylvain sold 2,090 shares of DexCom stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $86.91, for a total value of $181,641.90. Following the completion of the transaction, the executive vice president now owns 83,526 shares in the company, valued at approximately $7,259,244.66. The trade was a 2.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kevin R. Sayer sold 33,359 shares of the firm’s stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $86.91, for a total value of $2,899,230.69. Following the sale, the chief executive officer now directly owns 319,037 shares of the company’s stock, valued at $27,727,505.67. This represents a 9.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 42,342 shares of company stock worth $3,628,069 in the last quarter. 0.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Mercer Global Advisors Inc. ADV raised its holdings in DexCom by 110.2% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 20,345 shares of the medical device company’s stock worth $1,582,000 after purchasing an additional 10,666 shares during the period. LGT Financial Advisors LLC acquired a new stake in shares of DexCom in the fourth quarter valued at $93,000. Freestone Grove Partners LP acquired a new stake in shares of DexCom in the fourth quarter valued at $7,778,000. Voleon Capital Management LP purchased a new stake in DexCom during the 4th quarter worth about $4,505,000. Finally, Schonfeld Strategic Advisors LLC lifted its holdings in DexCom by 1,195.2% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 147,292 shares of the medical device company’s stock worth $11,455,000 after buying an additional 135,920 shares during the last quarter. 97.75% of the stock is owned by institutional investors.

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; and Dexcom ONE, that is designed to replace finger stick blood glucose testing for diabetes treatment decisions.