DexCom (NASDAQ:DXCM) Price Target Cut to $120.00

DexCom (NASDAQ:DXCM) had its price objective reduced by Royal Bank of Canada from $130.00 to $120.00 in a research note released on Tuesday morning, Benzinga reports. They currently have an outperform rating on the medical device company’s stock.

Several other equities research analysts have also recently issued reports on DXCM. StockNews.com cut shares of DexCom from a buy rating to a hold rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. cut shares of DexCom from an overweight rating to a neutral rating and reduced their price objective for the company from $145.00 to $75.00 in a research report on Friday, July 26th. Baird R W cut shares of DexCom from a strong-buy rating to a hold rating in a research report on Friday, July 26th. Wells Fargo & Company reduced their price target on shares of DexCom from $145.00 to $80.00 and set an overweight rating on the stock in a research report on Friday, July 26th. Finally, Oppenheimer reduced their price target on shares of DexCom from $150.00 to $115.00 and set an outperform rating on the stock in a research report on Friday, July 26th. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $110.69.

DexCom Price Performance

Shares of NASDAQ:DXCM opened at $69.21 on Tuesday. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.82 and a quick ratio of 2.48. DexCom has a 1-year low of $62.34 and a 1-year high of $142.00. The company has a market capitalization of $27.52 billion, a P/E ratio of 44.65, a P/E/G ratio of 2.16 and a beta of 1.18. The firm’s 50 day simple moving average is $70.23 and its two-hundred day simple moving average is $103.37.

DexCom (NASDAQ:DXCM) last released its quarterly earnings data on Thursday, July 25th. The medical device company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.04. The firm had revenue of $1 billion for the quarter, compared to analysts’ expectations of $1.04 billion. DexCom had a net margin of 16.95% and a return on equity of 31.41%. The company’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.34 earnings per share. Research analysts expect that DexCom will post 1.69 EPS for the current fiscal year.

Insider Buying and Selling at DexCom

In other DexCom news, EVP Sadie Stern sold 426 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $69.15, for a total transaction of $29,457.90. Following the transaction, the executive vice president now owns 75,451 shares in the company, valued at $5,217,436.65. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Sadie Stern sold 426 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $69.15, for a total transaction of $29,457.90. Following the completion of the sale, the executive vice president now directly owns 75,451 shares of the company’s stock, valued at approximately $5,217,436.65. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael Jon Brown sold 652 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $69.55, for a total transaction of $45,346.60. Following the sale, the executive vice president now directly owns 66,249 shares of the company’s stock, valued at $4,607,617.95. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,824 shares of company stock worth $126,390 over the last quarter. Insiders own 0.30% of the company’s stock.

Institutional Trading of DexCom

A number of large investors have recently made changes to their positions in DXCM. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in DexCom in the second quarter worth about $25,000. Sachetta LLC lifted its stake in DexCom by 255.2% in the second quarter. Sachetta LLC now owns 238 shares of the medical device company’s stock worth $27,000 after acquiring an additional 171 shares during the period. Crewe Advisors LLC purchased a new stake in DexCom in the first quarter worth about $29,000. Riverview Trust Co purchased a new stake in DexCom in the first quarter worth about $32,000. Finally, DT Investment Partners LLC lifted its stake in DexCom by 492.2% in the second quarter. DT Investment Partners LLC now owns 379 shares of the medical device company’s stock worth $43,000 after acquiring an additional 315 shares during the period. 97.75% of the stock is owned by hedge funds and other institutional investors.

DexCom Company Profile

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.