DexCom (NASDAQ:DXCM) Stock Price Target Raised at Canaccord Genuity Group

by · The Markets Daily

DexCom (NASDAQ:DXCM – Free Report) had its target price upped by Canaccord Genuity Group from $90.00 to $97.00 in a research report released on Friday,Benzinga reports. The firm currently has a buy rating on the medical device company’s stock.

DXCM has been the topic of a number of other reports. Barclays increased their target price on shares of DexCom from $115.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday. Robert W. Baird set a $105.00 price target on shares of DexCom in a report on Friday, July 31st. Argus lifted their price target on shares of DexCom from $86.00 to $96.00 and gave the company a “buy” rating in a report on Tuesday, August 4th. Benchmark boosted their price objective on shares of DexCom from $77.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Finally, Weiss Ratings upgraded shares of DexCom from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, October 6th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, DexCom presently has an average rating of “Buy” and a consensus price target of $93.70.

Read Our Latest Analysis on DXCM

DexCom Price Performance

Shares of DXCM opened at $82.29 on Friday. The firm has a market cap of $30.69 billion, a price-to-earnings ratio of 32.27, a PEG ratio of 1.37 and a beta of 1.45. The stock has a 50 day moving average of $85.82 and a 200-day moving average of $74.65. The company has a current ratio of 1.74, a quick ratio of 1.40 and a debt-to-equity ratio of 0.49. DexCom has a 52 week low of $54.11 and a 52 week high of $92.59.

DexCom (NASDAQ:DXCM – Get Free Report) last issued its quarterly earnings results on Thursday, October 29th. The medical device company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.05. The business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.33 billion. DexCom had a return on equity of 37.77% and a net margin of 19.42%. The business’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.61 EPS. As a group, analysts forecast that DexCom will post 2.67 EPS for the current year.

Insider Activity

In other DexCom news, Director Nicholas Augustinos sold 6,539 shares of the business’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $84.04, for a total transaction of $549,537.56. Following the completion of the transaction, the director directly owned 29,293 shares of the company’s stock, valued at $2,461,783.72. The trade was a 18.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Sadie Stern sold 2,565 shares of the firm’s stock in a transaction that occurred on Tuesday, October 27th. The shares were sold at an average price of $78.62, for a total transaction of $201,660.30. Following the completion of the sale, the executive vice president owned 120,913 shares in the company, valued at $9,506,180.06. The trade was a 2.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 22,822 shares of company stock valued at $1,920,193. 0.28% of the stock is owned by company insiders.

Institutional Trading of DexCom

Several hedge funds have recently added to or reduced their stakes in DXCM. Latitude Advisors LLC bought a new position in shares of DexCom in the third quarter worth $32,000. Hilton Head Capital Partners LLC lifted its holdings in DexCom by 242.3% in the third quarter. Hilton Head Capital Partners LLC now owns 380 shares of the medical device company’s stock worth $33,000 after purchasing an additional 269 shares during the period. Ascentis Independent Advisors bought a new position in DexCom in the 1st quarter valued at about $25,000. Elevation Wealth Partners LLC increased its stake in DexCom by 61.0% during the 3rd quarter. Elevation Wealth Partners LLC now owns 401 shares of the medical device company’s stock valued at $35,000 after buying an additional 152 shares during the period. Finally, GK Wealth Management LLC acquired a new position in DexCom during the 3rd quarter valued at about $35,000. Institutional investors own 97.75% of the company’s stock.

About DexCom

(Get Free Report)

DexCom, Inc develops and commercializes continuous glucose monitoring (CGM) systems for people with diabetes. Its devices use a small wearable sensor to measure glucose levels in real time and transmit readings to compatible smartphones, receivers, smartwatches, and other connected devices, helping users monitor glucose trends and make informed decisions about their health.

The company’s product portfolio includes the Dexcom G7 and Dexcom G6 CGM systems, as well as Dexcom ONE and Dexcom ONE+ products offered in select markets.

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