DexCom (NASDAQ:DXCM) Price Target Raised to $103.00

DexCom (NASDAQ:DXCM) had its price objective upped by Canaccord Genuity Group from $99.00 to $103.00 in a research report released on Friday,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the medical device company’s stock.

A number of other equities analysts have also weighed in on the company. Robert W. Baird raised DexCom from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $86.00 to $104.00 in a research report on Thursday, January 16th. Sanford C. Bernstein boosted their price objective on shares of DexCom from $82.00 to $86.00 and gave the company an “outperform” rating in a report on Friday, October 25th. JPMorgan Chase & Co. raised their target price on shares of DexCom from $75.00 to $85.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Leerink Partners decreased their target price on shares of DexCom from $90.00 to $87.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Finally, Redburn Atlantic upgraded DexCom from a “neutral” rating to a “buy” rating and raised their price target for the stock from $85.00 to $115.00 in a research note on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $99.06.

DexCom Trading Up 5.9 %

NASDAQ:DXCM opened at $89.07 on Friday. The stock has a market cap of $34.79 billion, a price-to-earnings ratio of 53.34, a PEG ratio of 2.26 and a beta of 1.14. The company has a quick ratio of 2.12, a current ratio of 2.46 and a debt-to-equity ratio of 1.23. The company’s 50 day moving average price is $82.44 and its 200-day moving average price is $75.49. DexCom has a 52 week low of $62.34 and a 52 week high of $142.00.

DexCom (NASDAQ:DXCM) last issued its earnings results on Thursday, February 13th. The medical device company reported $0.45 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%. On average, equities research analysts forecast that DexCom will post 1.69 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Kevin R. Sayer sold 33,359 shares of the stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $86.91, for a total value of $2,899,230.69. Following the completion of 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Sadie Stern sold 4,259 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $74.73, for a total transaction of $318,275.07. Following the sale, the executive vice president now owns 71,192 shares in the company, valued at $5,320,178.16. The trade was a 5.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,342 shares of company stock valued at $3,628,069. 0.30% of the stock is owned by corporate insiders.

Institutional Trading of DexCom

Several institutional investors have recently made changes to their positions in DXCM. Jennison Associates LLC lifted its holdings in DexCom by 1,683.2% in the 3rd quarter. Jennison Associates LLC now owns 6,932,899 shares of the medical device company’s stock worth $464,782,000 after purchasing an additional 6,544,102 shares in the last quarter. Norges Bank bought a new stake in shares of DexCom during the fourth quarter valued at approximately $385,367,000. Congress Asset Management Co. lifted its holdings in shares of DexCom by 5,456.9% in the fourth quarter. Congress Asset Management Co. now owns 1,356,941 shares of the medical device company’s stock worth $105,529,000 after buying an additional 1,332,522 shares in the last quarter. Fisher Funds Management LTD bought a new position in shares of DexCom during the fourth quarter worth $96,507,000. Finally, Westfield Capital Management Co. LP grew its stake in DexCom by 44.6% during the third quarter. Westfield Capital Management Co. LP now owns 2,842,057 shares of the medical device company’s stock valued at $190,532,000 after acquiring an additional 876,739 shares in the last quarter. Hedge funds and other institutional investors own 97.75% of the company’s stock.

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.