DexCom (NASDAQ:DXCM) Price Target Cut to $105.00 by Analysts at Oppenheimer

DexCom (NASDAQ:DXCM) had its target price decreased by Oppenheimer from $115.00 to $105.00 in a report issued on Friday morning, Benzinga reports. Oppenheimer currently has an outperform rating on the medical device company’s stock.

A number of other research analysts have also commented on DXCM. Royal Bank of Canada decreased their price objective on DexCom from $130.00 to $120.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 8th. Wells Fargo & Company lifted their price target on shares of DexCom from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday. BTIG Research cut their price objective on shares of DexCom from $156.00 to $120.00 and set a “buy” rating on the stock in a report on Friday, July 26th. Stifel Nicolaus upped their target price on shares of DexCom from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $145.00 price target on shares of DexCom in a research report on Tuesday, July 23rd. Six analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $104.59.

DexCom Price Performance

Shares of DXCM stock traded down $1.41 during trading hours on Friday, hitting $73.44. 14,562,597 shares of the company’s stock were exchanged, compared to its average volume of 3,904,948. DexCom has a 52 week low of $62.34 and a 52 week high of $142.00. The stock has a market cap of $29.21 billion, a price-to-earnings ratio of 47.38, a price-to-earnings-growth ratio of 2.16 and a beta of 1.18. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.82 and a quick ratio of 2.48. The stock’s 50-day moving average is $70.11 and its 200-day moving average is $98.24.

DexCom (NASDAQ:DXCM) last issued its quarterly earnings results on Thursday, October 24th. The medical device company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.02. The business had revenue of $994.20 million for the quarter, compared to the consensus estimate of $991.55 million. DexCom had a net margin of 16.95% and a return on equity of 31.41%. As a group, research analysts forecast that DexCom will post 1.69 EPS for the current year.

Insider Activity

In related news, COO Jacob Steven Leach sold 746 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 $51,585.90. Following the transaction, the chief operating officer now directly owns 264,915 shares in the company, valued at approximately $18,318,872.25. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Michael Jon Brown sold 652 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $69.55, for a total value of $45,346.60. Following the completion of the sale, the executive vice president now directly owns 66,249 shares of the company’s stock, valued at $4,607,617.95. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Jacob Steven Leach sold 746 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $69.15, for a total value of $51,585.90. Following the transaction, the chief operating officer now directly owns 264,915 shares in the company, valued at $18,318,872.25. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,824 shares of company stock valued at $126,390. 0.30% of the stock is owned by insiders.

Hedge Funds Weigh In On DexCom

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Team Hewins LLC raised its position in shares of DexCom by 3.4% in the first quarter. Team Hewins LLC now owns 2,555 shares of the medical device company’s stock valued at $354,000 after purchasing an additional 83 shares during the period. Bleakley Financial Group LLC lifted its position in DexCom by 1.3% during the first quarter. Bleakley Financial Group LLC now owns 6,856 shares of the medical device company’s stock worth $951,000 after acquiring an additional 87 shares during the last quarter. Capital Insight Partners LLC boosted its holdings in shares of DexCom by 2.5% during the second quarter. Capital Insight Partners LLC now owns 3,690 shares of the medical device company’s stock worth $418,000 after acquiring an additional 90 shares during the period. HM Payson & Co. boosted its holdings in shares of DexCom by 6.0% during the first quarter. HM Payson & Co. now owns 1,780 shares of the medical device company’s stock worth $247,000 after acquiring an additional 100 shares during the period. Finally, State of Alaska Department of Revenue grew its position in shares of DexCom by 0.3% in the first quarter. State of Alaska Department of Revenue now owns 41,830 shares of the medical device company’s stock valued at $5,801,000 after purchasing an additional 105 shares during the last quarter. 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.