DexCom (NASDAQ:DXCM - Get Free Report)'s stock had its "buy" rating reiterated by Canaccord Genuity Group in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $106.00 price target on the medical device company's stock. Canaccord Genuity Group's target price indicates a potential upside of 33.85% from the stock's previous close.
Several other analysts also recently issued reports on the company. Morgan Stanley raised their price target on DexCom from $82.00 to $89.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Oppenheimer lifted their target price on DexCom from $95.00 to $102.00 and gave the company an "outperform" rating in a research note on Thursday. UBS Group lifted their target price on DexCom from $105.00 to $106.00 and gave the company a "buy" rating in a research note on Thursday. Piper Sandler lifted their target price on DexCom from $90.00 to $100.00 and gave the company an "overweight" rating in a research note on Thursday. Finally, Citigroup reissued a "buy" rating and issued a $102.00 price objective (up previously from $82.00) on shares of DexCom in a research note on Thursday, May 22nd. Four investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, DexCom presently has a consensus rating of "Moderate Buy" and an average target price of $99.89.
Read Our Latest Research Report on DexCom
DexCom Price Performance
DexCom stock traded down $1.58 during trading hours on Friday, hitting $79.19. The stock had a trading volume of 1,570,826 shares, compared to its average volume of 3,861,028. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.50 and a quick ratio of 1.32. The stock has a market capitalization of $31.05 billion, a price-to-earnings ratio of 55.29, a PEG ratio of 1.90 and a beta of 1.44. DexCom has a 1-year low of $57.52 and a 1-year high of $93.25. The stock's fifty day moving average is $84.67 and its two-hundred day moving average is $80.62.
DexCom (NASDAQ:DXCM - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The medical device company reported $0.48 EPS for the quarter, beating analysts' consensus estimates of $0.45 by $0.03. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.13 billion. DexCom had a return on equity of 32.05% and a net margin of 13.29%. The business's revenue for the quarter was up 15.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.43 earnings per share. As a group, analysts predict that DexCom will post 2.03 earnings per share for the current fiscal year.
Insider Activity
In other news, Director Mark G. Foletta sold 2,750 shares of DexCom stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $83.13, for a total value of $228,607.50. Following the sale, the director owned 56,621 shares in the company, valued at $4,706,903.73. This trade represents a 4.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Michael Jon Brown sold 500 shares of DexCom stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $82.80, for a total transaction of $41,400.00. Following the completion of the sale, the executive vice president owned 95,102 shares in the company, valued at approximately $7,874,445.60. This trade represents a 0.52% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,656 shares of company stock worth $2,412,191 in the last ninety days. Corporate insiders own 0.32% of the company's stock.
Hedge Funds Weigh In On DexCom
A number of institutional investors and hedge funds have recently bought and sold shares of the business. OVERSEA CHINESE BANKING Corp Ltd boosted its position in DexCom by 30.6% during the second quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 60,772 shares of the medical device company's stock worth $5,303,000 after acquiring an additional 14,229 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in DexCom by 19.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 765,271 shares of the medical device company's stock valued at $66,800,000 after purchasing an additional 127,101 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in DexCom by 41.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 48,453 shares of the medical device company's stock valued at $4,229,000 after purchasing an additional 14,225 shares during the last quarter. Wealthfront Advisers LLC boosted its holdings in DexCom by 10.7% in the 2nd quarter. Wealthfront Advisers LLC now owns 10,546 shares of the medical device company's stock valued at $921,000 after purchasing an additional 1,022 shares during the last quarter. Finally, Brighton Jones LLC boosted its holdings in DexCom by 5.3% in the 2nd quarter. Brighton Jones LLC now owns 17,917 shares of the medical device company's stock valued at $1,564,000 after purchasing an additional 908 shares during the last quarter. 97.75% of the stock is currently owned by institutional investors and hedge funds.
DexCom Company Profile
(
Get Free Report)
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.
Further Reading

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