DexCom (NASDAQ:DXCM) Price Target Raised to $100.00

DexCom (NASDAQ:DXCM - Get Free Report) had its price objective upped by analysts at Mizuho from $95.00 to $100.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an "outperform" rating on the medical device company's stock. Mizuho's target price would suggest a potential upside of 18.86% from the company's previous close.

Several other research analysts have also recently issued reports on DXCM. Canaccord Genuity Group lifted their target price on DexCom from $103.00 to $106.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Wall Street Zen downgraded shares of DexCom from a "buy" rating to a "hold" rating in a report on Sunday, June 29th. Barclays increased their target price on shares of DexCom from $90.00 to $93.00 and gave the company an "equal weight" rating in a report on Monday, May 5th. Robert W. Baird dropped their price target on shares of DexCom from $115.00 to $105.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Finally, Citigroup restated a "buy" rating and set a $102.00 price target (up from $82.00) on shares of DexCom in a report on Thursday, May 22nd. Five research analysts have rated the stock with a hold rating, sixteen have given 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 a consensus target price of $99.60.

DexCom Stock Down 0.8%

DXCM traded down $0.65 during trading on Wednesday, hitting $84.13. 2,353,212 shares of the company's stock were exchanged, compared to its average volume of 4,425,731. DexCom has a fifty-two week low of $57.52 and a fifty-two week high of $117.19. The stock has a market cap of $32.99 billion, a P/E ratio of 62.78, a PEG ratio of 1.81 and a beta of 1.44. The business's 50 day moving average is $84.51 and its two-hundred day moving average is $80.06. 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 (NASDAQ:DXCM - Get Free Report) last posted its earnings results on Thursday, May 1st. The medical device company reported $0.32 earnings per share for the quarter, missing analysts' consensus estimates of $0.33 by ($0.01). DexCom had a return on equity of 30.05% and a net margin of 12.90%. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the prior year, the company earned $0.32 EPS. The company's revenue was up 12.5% on a year-over-year basis. As a group, equities analysts expect that DexCom will post 2.03 earnings per share for the current fiscal year.

Insider Transactions at DexCom

In other DexCom news, EVP Michael Jon Brown sold 500 shares of the 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 transaction, the executive vice president owned 95,102 shares in the company, valued at $7,874,445.60. This trade represents a 0.52% 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, Director Mark G. Foletta sold 2,750 shares of DexCom stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $83.13, for a total transaction of $228,607.50. Following the completion of the transaction, the director owned 56,621 shares of the company's stock, valued at $4,706,903.73. The trade was a 4.63% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,190 shares of company stock valued at $2,281,732. Corporate insiders own 0.32% of the company's stock.

Institutional Trading of DexCom

Institutional investors have recently modified their holdings of the business. Nuveen LLC bought a new stake in DexCom during the 1st quarter valued at $554,893,000. Norges Bank purchased a new position in shares of DexCom in the fourth quarter valued at $385,367,000. Jennison Associates LLC raised its stake in shares of DexCom by 37.7% during the 1st quarter. Jennison Associates LLC now owns 10,523,246 shares of the medical device company's stock valued at $718,632,000 after purchasing an additional 2,879,489 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of DexCom by 171.0% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,194,829 shares of the medical device company's stock valued at $218,175,000 after purchasing an additional 2,015,971 shares during the period. Finally, Federated Hermes Inc. lifted its holdings in DexCom by 2,371.4% during the 1st quarter. Federated Hermes Inc. now owns 1,994,732 shares of the medical device company's stock worth $136,220,000 after purchasing an additional 1,914,019 shares in the last quarter. 97.75% of the stock is currently owned by hedge funds and other institutional investors.

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.