DexCom (NASDAQ:DXCM) Given New $120.00 Price Target at BTIG Research

DexCom (NASDAQ:DXCM) had its price target dropped by equities researchers at BTIG Research from $156.00 to $120.00 in a report issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the medical device company’s stock. BTIG Research’s price target indicates a potential upside of 87.62% from the company’s previous close.

Several other research firms have also recently weighed in on DXCM. JPMorgan Chase & Co. cut DexCom from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $145.00 to $75.00 in a research report on Friday. Citigroup upped their price target on DexCom from $148.00 to $161.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Royal Bank of Canada dropped their price target on DexCom from $165.00 to $145.00 and set an “outperform” rating on the stock in a research report on Friday. Oppenheimer dropped their price target on DexCom from $150.00 to $115.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, Morgan Stanley dropped their price target on DexCom from $120.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Friday. Six investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $113.06.

DexCom Stock Down 40.7 %

Shares of NASDAQ DXCM traded down $43.89 during midday trading on Friday, hitting $63.96. 51,609,000 shares of the stock traded hands, compared to its average volume of 3,262,117. The company has a market cap of $25.44 billion, a PE ratio of 41.05, a P/E/G ratio of 2.74 and a beta of 1.16. DexCom has a one year low of $62.34 and a one year high of $142.00. The business has a 50 day moving average price of $116.63 and a two-hundred day moving average price of $124.29. The company has a debt-to-equity ratio of 1.08, a quick ratio of 2.53 and a current ratio of 2.90.

DexCom (NASDAQ:DXCM) last announced its quarterly earnings results on Thursday, July 25th. The medical device company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.04. DexCom had a return on equity of 31.01% and a net margin of 16.82%. The business had revenue of $1 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the prior year, the company posted $0.34 earnings per share. DexCom’s revenue was up 15.3% compared to the same quarter last year. On average, equities analysts predict that DexCom will post 1.78 EPS for the current year.

Insiders Place Their Bets

In other DexCom news, EVP Michael Jon Brown sold 629 shares of DexCom stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $126.25, for a total value of $79,411.25. Following the transaction, the executive vice president now directly owns 68,212 shares of the company’s stock, valued at approximately $8,611,765. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Sadie Stern sold 427 shares of DexCom stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $115.05, for a total value of $49,126.35. Following the sale, the executive vice president now directly owns 75,877 shares in the company, valued at approximately $8,729,648.85. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Michael Jon Brown sold 629 shares of DexCom stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $126.25, for a total value of $79,411.25. Following the completion of the sale, the executive vice president now owns 68,212 shares in the company, valued at $8,611,765. The disclosure for this sale can be found here. Insiders have sold 4,112 shares of company stock valued at $480,861 in the last ninety days. Company insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of DXCM. DSM Capital Partners LLC purchased a new position in shares of DexCom in the fourth quarter worth $28,000. Crewe Advisors LLC bought a new stake in DexCom during the first quarter valued at about $29,000. Valley National Advisers Inc. grew its holdings in DexCom by 73.0% during the fourth quarter. Valley National Advisers Inc. now owns 244 shares of the medical device company’s stock valued at $30,000 after purchasing an additional 103 shares during the period. Riverview Trust Co bought a new position in shares of DexCom in the first quarter worth about $32,000. Finally, MV Capital Management Inc. boosted its stake in DexCom by 99.3% during the fourth quarter. MV Capital Management Inc. now owns 277 shares of the medical device company’s stock valued at $34,000 after buying an additional 138 shares during the last quarter. Hedge funds and other 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.