DexCom (NASDAQ:DXCM) Given New $102.00 Price Target at Raymond James Financial

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DexCom (NASDAQ:DXCM - Get Free Report) had its price objective boosted by research analysts at Raymond James Financial from $99.00 to $102.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a "strong-buy" rating on the medical device company's stock. Raymond James Financial's price target indicates a potential upside of 22.06% from the stock's current price.

A number of other analysts also recently commented on the company. Wall Street Zen upgraded DexCom from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. Oppenheimer raised their target price on shares of DexCom from $95.00 to $102.00 and gave the company an "outperform" rating in a research note on Thursday. Robert W. Baird decreased their price target on DexCom from $115.00 to $105.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. The Goldman Sachs Group began coverage on DexCom in a research note on Friday, May 30th. They issued a "buy" rating and a $104.00 price objective for the company. Finally, Morgan Stanley boosted their price objective on shares of DexCom from $82.00 to $89.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Four analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, DexCom has an average rating of "Moderate Buy" and an average target price of $99.89.

DexCom Stock Down 6.2%

NASDAQ:DXCM traded down $5.49 during mid-day trading on Thursday, hitting $83.57. The company had a trading volume of 2,891,298 shares, compared to its average volume of 3,832,825. The firm has a market capitalization of $32.77 billion, a price-to-earnings ratio of 62.36, a PEG ratio of 1.91 and a beta of 1.44. DexCom has a 1 year low of $57.52 and a 1 year high of $93.25. The business has a fifty day simple moving average of $84.75 and a 200-day simple moving average of $80.62. The company has a current ratio of 1.50, a quick ratio of 1.32 and a debt-to-equity ratio of 0.55.

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

Insiders Place Their Bets

In other news, EVP Sadie Stern sold 6,184 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $85.11, for a total value of $526,320.24. Following the completion of the sale, the executive vice president directly owned 109,621 shares of the company's stock, valued at $9,329,843.31. This trade represents a 5.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Nicholas Augustinos sold 3,672 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $82.80, for a total transaction of $304,041.60. Following the transaction, the director owned 33,411 shares of the company's stock, valued at approximately $2,766,430.80. The trade was a 9.90% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,656 shares of company stock worth $2,412,191 in the last three months. Company insiders own 0.32% of the company's stock.

Hedge Funds Weigh In On DexCom

A number of large investors have recently modified their holdings of the company. Horizon Investments LLC lifted its position in DexCom by 2.2% during the 1st quarter. Horizon Investments LLC now owns 5,608 shares of the medical device company's stock valued at $383,000 after acquiring an additional 123 shares during the period. Nia Impact Advisors LLC increased its stake in DexCom by 1.4% during the fourth quarter. Nia Impact Advisors LLC now owns 9,850 shares of the medical device company's stock worth $766,000 after acquiring an additional 140 shares during the last quarter. Covestor Ltd grew its stake in shares of DexCom by 15.6% during the fourth quarter. Covestor Ltd now owns 1,109 shares of the medical device company's stock valued at $86,000 after buying an additional 150 shares during the last quarter. Wedbush Securities Inc. increased its position in shares of DexCom by 1.2% during the first quarter. Wedbush Securities Inc. now owns 13,168 shares of the medical device company's stock worth $899,000 after acquiring an additional 157 shares during the period. Finally, Argonautica Private Wealth Management Inc. raised its holdings in shares of DexCom by 3.2% in the 1st quarter. Argonautica Private Wealth Management Inc. now owns 5,958 shares of the medical device company's stock valued at $407,000 after purchasing an additional 182 shares in the last quarter. 97.75% of the stock is 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.

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