Piper Sandler Forecasts Strong Price Appreciation for DexCom (NASDAQ:DXCM) Stock

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

DexCom (NASDAQ:DXCM - Get Free Report) had its price objective lifted by stock analysts at Piper Sandler from $90.00 to $100.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the medical device company's stock. Piper Sandler's price target points to a potential upside of 18.84% from the stock's previous close.

Other equities analysts have also recently issued research reports about the company. Barclays upped their price objective on DexCom from $93.00 to $98.00 and gave the company an "equal weight" rating in a research note on Wednesday. The Goldman Sachs Group assumed coverage on shares of DexCom in a research note on Friday, May 30th. They set a "buy" rating and a $104.00 price target on the stock. UBS Group increased their price target on shares of DexCom from $105.00 to $106.00 and gave the stock a "buy" rating in a report on Thursday. Wall Street Zen upgraded DexCom from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Finally, Canaccord Genuity Group upped their price target on DexCom from $103.00 to $106.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Four 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 company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $99.89.

DexCom Price Performance

NASDAQ DXCM traded down $4.91 during mid-day trading on Thursday, hitting $84.15. The stock had a trading volume of 2,891,298 shares, compared to its average volume of 3,832,825. DexCom has a twelve month low of $57.52 and a twelve month high of $93.25. 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 firm's 50 day moving average is $84.75 and its 200 day moving average is $80.62. The stock has a market capitalization of $32.99 billion, a price-to-earnings ratio of 62.36, a PEG ratio of 1.91 and a beta of 1.44.

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

Insiders Place Their Bets

In related news, Director Nicholas Augustinos sold 3,672 shares of DexCom stock in a transaction on Monday, June 16th. The shares were sold at an average price of $82.80, for a total value of $304,041.60. Following the transaction, the director directly owned 33,411 shares of the company's stock, valued at $2,766,430.80. The trade was a 9.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Sadie Stern sold 6,184 shares of the firm's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $85.11, for a total transaction 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 approximately $9,329,843.31. This represents a 5.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,656 shares of company stock valued at $2,412,191 over the last 90 days. 0.32% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Asset Management One Co. Ltd. increased its position in DexCom by 0.6% during the 2nd quarter. Asset Management One Co. Ltd. now owns 254,785 shares of the medical device company's stock valued at $22,240,000 after buying an additional 1,430 shares in the last quarter. Bleakley Financial Group LLC purchased a new position in DexCom in the second quarter worth about $1,774,000. Ethic Inc. lifted its stake in shares of DexCom by 3.7% in the second quarter. Ethic Inc. now owns 49,205 shares of the medical device company's stock worth $4,248,000 after buying an additional 1,753 shares in the last quarter. Stephens Investment Management Group LLC grew its position in shares of DexCom by 4.4% during the 2nd quarter. Stephens Investment Management Group LLC now owns 877,832 shares of the medical device company's stock valued at $76,626,000 after acquiring an additional 36,748 shares during the period. Finally, Rehmann Capital Advisory Group bought a new position in DexCom in the 2nd quarter worth $213,000. Institutional investors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.