The Goldman Sachs Group Begins Coverage on DexCom (NASDAQ:DXCM)

Research analysts at The Goldman Sachs Group assumed coverage on shares of DexCom (NASDAQ:DXCM - Get Free Report) in a research note issued on Friday, Marketbeat.com reports. The brokerage set a "buy" rating and a $104.00 price target on the medical device company's stock. The Goldman Sachs Group's target price would suggest a potential upside of 20.99% from the company's current price.

A number of other research analysts have also recently weighed in on the company. Redburn Atlantic upgraded DexCom from a "neutral" rating to a "buy" rating and raised their price target for the company from $85.00 to $115.00 in a research report on Monday, February 3rd. Citigroup reissued a "buy" rating and issued a $102.00 price target (up from $82.00) on shares of DexCom in a research note on Thursday, May 22nd. Morgan Stanley raised their price objective on DexCom from $75.00 to $82.00 and gave the stock an "equal weight" rating in a report on Friday, February 14th. Robert W. Baird 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, May 2nd. Finally, Barclays boosted their price target on DexCom from $90.00 to $93.00 and gave the stock an "equal weight" rating in a research report on Monday, May 5th. Five investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $98.32.

DexCom Price Performance

NASDAQ:DXCM traded up $1.10 during trading hours on Friday, hitting $85.96. The company's stock had a trading volume of 4,257,051 shares, compared to its average volume of 4,363,381. The business's 50-day moving average is $74.67 and its two-hundred day moving average is $78.69. The company has a market capitalization of $33.71 billion, a PE ratio of 60.11, a PEG ratio of 2.30 and a beta of 1.43. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.28 and a current ratio of 1.47. DexCom has a 52-week low of $57.52 and a 52-week high of $120.48.

DexCom (NASDAQ:DXCM - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The medical device company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.01). DexCom had a return on equity of 30.14% and a net margin of 14.29%. The business had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.02 billion. During the same quarter in the previous year, the company posted $0.32 EPS. The company's revenue was up 12.5% compared to the same quarter last year. As a group, research analysts anticipate that DexCom will post 2.03 EPS for the current fiscal year.

Insider Activity

In related news, CEO Kevin R. Sayer sold 32,498 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $70.38, for a total transaction of $2,287,209.24. Following the completion of the transaction, the chief executive officer now owns 372,029 shares in the company, valued at $26,183,401.02. The trade was a 8.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Jacob Steven Leach sold 14,076 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $70.38, for a total value of $990,668.88. Following the transaction, the chief operating officer now owns 313,497 shares of the company's stock, valued at $22,063,918.86. This represents a 4.30% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 83,110 shares of company stock worth $6,103,505. 0.32% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Private Trust Co. NA boosted its position in DexCom by 266.3% during the 4th quarter. Private Trust Co. NA now owns 337 shares of the medical device company's stock valued at $26,000 after purchasing an additional 245 shares during the period. Golden State Wealth Management LLC boosted its position in DexCom by 211.2% during the 1st quarter. Golden State Wealth Management LLC now owns 389 shares of the medical device company's stock worth $27,000 after acquiring an additional 264 shares during the period. Zions Bancorporation National Association UT acquired a new position in DexCom during the 1st quarter worth $27,000. Optiver Holding B.V. acquired a new position in DexCom during the 4th quarter worth $33,000. Finally, TD Private Client Wealth LLC boosted its position in DexCom by 62.8% during the 4th quarter. TD Private Client Wealth LLC now owns 433 shares of the medical device company's stock worth $34,000 after acquiring an additional 167 shares during the period. Institutional investors and hedge funds own 97.75% of the company's stock.

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.