DexCom (NASDAQ:DXCM) Stock Price Expected to Rise, Morgan Stanley Analyst Says

DexCom (NASDAQ:DXCM - Free Report) had its price objective hoisted by Morgan Stanley from $82.00 to $89.00 in a report released on Tuesday morning,Benzinga reports. The firm currently has an equal weight rating on the medical device company's stock.

DXCM has been the subject of a number of other reports. Piper Sandler decreased their price objective on shares of DexCom from $100.00 to $90.00 and set an "overweight" rating for the company in a research report on Friday, May 2nd. Mizuho initiated coverage on shares of DexCom in a research note on Thursday, April 10th. They issued an "outperform" rating and a $85.00 target price on the stock. Cfra Research upgraded shares of DexCom to a "hold" rating in a research note on Friday, March 21st. Barclays upped their target price on shares of DexCom from $90.00 to $93.00 and gave the company an "equal weight" rating in a research note on Monday, May 5th. Finally, Robert W. Baird dropped their price objective on shares of DexCom from $115.00 to $105.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Five equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $99.60.

DexCom Trading Down 0.2%

Shares of DXCM stock traded down $0.21 on Tuesday, reaching $83.89. 2,594,466 shares of the stock were exchanged, compared to its average volume of 4,427,222. The stock has a market cap of $32.89 billion, a P/E ratio of 62.60, a price-to-earnings-growth ratio of 1.79 and a beta of 1.44. The company has a quick ratio of 1.32, a current ratio of 1.50 and a debt-to-equity ratio of 0.55. The firm has a 50 day moving average of $84.51 and a two-hundred day moving average of $80.13. DexCom has a 1-year low of $57.52 and a 1-year high of $116.35.

DexCom (NASDAQ:DXCM - Get Free Report) last announced its quarterly 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 for the quarter, compared to analysts' expectations of $1.02 billion. During the same period last year, the company posted $0.32 earnings per share. The firm's revenue for the quarter was up 12.5% on a year-over-year basis. On average, research analysts anticipate that DexCom will post 2.03 EPS for the current year.

Insider Activity at DexCom

In other DexCom news, EVP Michael Jon Brown sold 10,000 shares of the business's stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $84.28, for a total value of $842,800.00. Following the completion of the transaction, the executive vice president directly owned 95,602 shares of the company's stock, valued at approximately $8,057,336.56. The trade was a 9.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Mark G. Foletta sold 2,750 shares of the business's 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 directly owned 56,621 shares of the company's stock, valued at approximately $4,706,903.73. This represents a 4.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 27,190 shares of company stock valued at $2,281,732. Insiders own 0.32% of the company's stock.

Institutional Investors Weigh In On DexCom

A number of institutional investors and hedge funds have recently modified their holdings of DXCM. Golden State Wealth Management LLC raised its stake 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 buying an additional 264 shares during the last quarter. Zions Bancorporation National Association UT bought a new stake in shares of DexCom during the first quarter worth approximately $27,000. Optiver Holding B.V. bought a new stake in shares of DexCom during the fourth quarter worth approximately $33,000. TD Private Client Wealth LLC raised its stake in shares of DexCom by 62.8% during the fourth quarter. TD Private Client Wealth LLC now owns 433 shares of the medical device company's stock worth $34,000 after buying an additional 167 shares during the last quarter. Finally, Anderson Financial Strategies LLC bought a new stake in shares of DexCom during the first quarter worth approximately $37,000. 97.75% of the stock is owned by 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.