DexCom (NASDAQ:DXCM) Raised to “Buy” at Redburn Atlantic

DexCom (NASDAQ:DXCM) was upgraded by equities researchers at Redburn Atlantic from a “neutral” rating to a “buy” rating in a research note issued on Monday,Briefing.com Automated Import reports. The firm currently has a $115.00 price target on the medical device company’s stock, up from their previous price target of $85.00. Redburn Atlantic’s target price indicates a potential upside of 32.44% from the stock’s previous close.

A number of other research firms also recently weighed in on DXCM. Royal Bank of Canada cut their price target on DexCom from $120.00 to $115.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Oppenheimer cut their price target on DexCom from $115.00 to $105.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Wells Fargo & Company raised their price target on DexCom from $90.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Canaccord Genuity Group raised their price target on DexCom from $89.00 to $99.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Finally, StockNews.com downgraded DexCom from a “buy” rating to a “hold” rating in a research note on Saturday, November 2nd. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $98.41.

DexCom Stock Down 0.9 %

DXCM opened at $86.83 on Monday. DexCom has a fifty-two week low of $62.34 and a fifty-two week high of $142.00. The business has a 50-day moving average of $80.77 and a 200-day moving average of $76.21. The company has a debt-to-equity ratio of 1.23, a current ratio of 2.46 and a quick ratio of 2.12. The company has a market capitalization of $33.92 billion, a PE ratio of 51.99, a price-to-earnings-growth ratio of 2.23 and a beta of 1.14.

Insider Activity at DexCom

In other DexCom news, COO Jacob Steven Leach sold 2,634 shares of DexCom stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $86.91, for a total value of $228,920.94. Following the completion of the transaction, the chief operating officer now owns 268,644 shares in the company, valued at approximately $23,347,850.04. The trade was a 0.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Sadie Stern sold 4,259 shares of DexCom stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $74.73, for a total value of $318,275.07. Following the completion of the transaction, the executive vice president now owns 71,192 shares of the company’s stock, valued at approximately $5,320,178.16. The trade was a 5.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 42,342 shares of company stock valued at $3,628,069 in the last 90 days. 0.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On DexCom

Several institutional investors have recently bought and sold shares of the business. Versant Capital Management Inc acquired a new stake in shares of DexCom during the fourth quarter worth $25,000. Riverview Trust Co grew its stake in shares of DexCom by 100.4% during the third quarter. Riverview Trust Co now owns 463 shares of the medical device company’s stock worth $31,000 after purchasing an additional 232 shares during the period. Heck Capital Advisors LLC acquired a new stake in shares of DexCom during the fourth quarter worth $38,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of DexCom during the third quarter worth $57,000. Finally, Covestor Ltd grew its stake in shares of DexCom by 53.7% during the third quarter. Covestor Ltd now owns 959 shares of the medical device company’s stock worth $64,000 after purchasing an additional 335 shares during the period. 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.