DexCom (NASDAQ:DXCM) Price Target Raised to $99.00

DexCom (NASDAQ:DXCM) had its target price increased by Canaccord Genuity Group from $89.00 to $99.00 in a research note released on Monday morning,Benzinga reports. They currently have a buy rating on the medical device company’s stock.

A number of other equities research analysts have also commented on the stock. Wells Fargo & Company upped their price target on shares of DexCom from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Leerink Partners dropped their target price on shares of DexCom from $90.00 to $87.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Stifel Nicolaus boosted their price target on DexCom from $90.00 to $100.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Royal Bank of Canada dropped their price objective on DexCom from $120.00 to $115.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Finally, Raymond James reduced their target price on DexCom from $115.00 to $99.00 and set a “strong-buy” rating on the stock in a research note on Friday, October 25th. Seven 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. According to MarketBeat.com, DexCom has an average rating of “Moderate Buy” and an average target price of $98.00.

DexCom Stock Performance

Shares of NASDAQ DXCM opened at $80.47 on Monday. The stock has a market cap of $31.43 billion, a price-to-earnings ratio of 48.19, a P/E/G ratio of 2.38 and a beta of 1.12. The stock’s 50-day moving average is $73.31 and its 200 day moving average is $85.04. The company has a current ratio of 2.46, a quick ratio of 2.12 and a debt-to-equity ratio of 1.23. DexCom has a 1-year low of $62.34 and a 1-year high of $142.00.

Insiders Place Their Bets

In other news, EVP Sadie Stern sold 4,259 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $74.73, for a total transaction of $318,275.07. Following the completion of the transaction, the executive vice president now directly owns 71,192 shares of the company’s stock, valued at $5,320,178.16. The trade was a 5.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.30% of the company’s stock.

Institutional Investors Weigh In On DexCom

A number of hedge funds have recently added to or reduced their stakes in the stock. Blue Whale Capital LLP boosted its stake in shares of DexCom by 91.9% in the 3rd quarter. Blue Whale Capital LLP now owns 236,000 shares of the medical device company’s stock worth $15,821,000 after buying an additional 113,000 shares during the last quarter. Taylor Frigon Capital Management LLC lifted its holdings in DexCom by 51.6% in the third quarter. Taylor Frigon Capital Management LLC now owns 32,554 shares of the medical device company’s stock valued at $2,182,000 after acquiring an additional 11,075 shares during the period. Brooktree Capital Management purchased a new position in DexCom in the third quarter worth about $683,000. National Pension Service grew its stake in shares of DexCom by 4.1% during the 3rd quarter. National Pension Service now owns 949,743 shares of the medical device company’s stock valued at $63,671,000 after purchasing an additional 37,363 shares during the period. Finally, Intact Investment Management Inc. purchased a new stake in shares of DexCom during the 3rd quarter valued at about $650,000. 97.75% of the stock is currently 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.