DexCom (NASDAQ:DXCM) Given New $102.00 Price Target at Oppenheimer

Key Points

• Oppenheimer raised DexCom's price target from $95.00 to $102.00, suggesting a potential upside of 17.71% from the current price.
• The average price target for DexCom now stands at $99.21, with a majority of analysts rating the stock as a "Moderate Buy."
• DexCom reported a net margin of 12.90% and a year-over-year revenue increase of 15.2%, reflecting strong financial performance.

DexCom (NASDAQ:DXCM - Get Free Report) had its target price boosted by research analysts at Oppenheimer from $95.00 to $102.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an "outperform" rating on the medical device company's stock. Oppenheimer's price objective would indicate a potential upside of 17.71% from the company's current price.

Several other equities research analysts also recently weighed in on DXCM. Robert W. Baird reduced their price objective on shares of DexCom from $115.00 to $105.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Wall Street Zen raised DexCom from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Mizuho upped their price objective on DexCom from $95.00 to $100.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. Barclays raised their price objective on DexCom from $93.00 to $98.00 and gave the company an "equal weight" rating in a research note on Wednesday. Finally, The Goldman Sachs Group initiated coverage on DexCom in a research report on Friday, May 30th. They set a "buy" rating and a $104.00 target price on the stock. Four research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, DexCom currently has an average rating of "Moderate Buy" and an average price target of $99.21.

DexCom Trading Down 2.7%

NASDAQ:DXCM traded down $2.40 on Thursday, hitting $86.66. The stock had a trading volume of 385,246 shares, compared to its average volume of 3,814,936. The company has a fifty day moving average price of $84.75 and a two-hundred day moving average price of $80.62. The company has a quick ratio of 1.32, a current ratio of 1.50 and a debt-to-equity ratio of 0.55. DexCom has a 1-year low of $57.52 and a 1-year high of $93.25. The stock has a market cap of $33.98 billion, a price-to-earnings ratio of 62.88, a PEG ratio of 1.91 and a beta of 1.44.

DexCom (NASDAQ:DXCM - Get Free Report) last released its earnings results on Wednesday, July 30th. The medical device company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.45 by $0.03. DexCom had a net margin of 12.90% and a return on equity of 30.05%. The company had revenue of $1.16 billion during the quarter, compared to analysts' expectations of $1.13 billion. During the same quarter last year, the business earned $0.43 EPS. The business's revenue was up 15.2% on a year-over-year basis. Equities research analysts expect that DexCom will post 2.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Michael Jon Brown sold 10,000 shares of the stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $84.28, for a total value of $842,800.00. Following the completion of the sale, the executive vice president directly owned 95,602 shares of the company's stock, valued at approximately $8,057,336.56. This represents a 9.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Nicholas Augustinos sold 3,672 shares of the firm's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $82.80, for a total value of $304,041.60. Following the sale, the director directly owned 33,411 shares of the company's stock, valued at approximately $2,766,430.80. This represents a 9.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,656 shares of company stock valued at $2,412,191 over the last 90 days. 0.32% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On DexCom

Hedge funds have recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC grew its position in shares of DexCom by 211.2% during the first quarter. Golden State Wealth Management LLC now owns 389 shares of the medical device company's stock worth $27,000 after purchasing an additional 264 shares in the last quarter. Zions Bancorporation National Association UT acquired a new position in shares of DexCom in the 1st quarter valued at about $27,000. Optiver Holding B.V. purchased a new stake in DexCom during the 4th quarter worth approximately $33,000. Anderson Financial Strategies LLC purchased a new position in DexCom in the first quarter worth approximately $37,000. Finally, Heck Capital Advisors LLC acquired a new position in DexCom during the fourth quarter worth $38,000. 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.

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