DexCom (NASDAQ:DXCM) Given New $87.00 Price Target at Leerink Partners

DexCom (NASDAQ:DXCM) had its price target lowered by Leerink Partners from $90.00 to $87.00 in a research note published on Friday, Benzinga reports. Leerink Partners currently has an outperform rating on the medical device company’s stock.

A number of other research firms also recently issued reports on DXCM. Royal Bank of Canada decreased their price target on shares of DexCom from $130.00 to $120.00 and set an “outperform” rating for the company in a research note on Tuesday, October 8th. Baird R W lowered DexCom from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 26th. BTIG Research dropped their target price 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. Barclays dropped their price objective on shares of DexCom from $138.00 to $113.00 and set an “equal weight” rating on the stock in a research note on Monday, July 29th. Finally, Wells Fargo & Company raised their target price on shares of DexCom from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Friday. Six analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $104.59.

DexCom Stock Performance

NASDAQ DXCM opened at $73.44 on Friday. The company has a market capitalization of $29.21 billion, a P/E ratio of 47.38, a P/E/G ratio of 2.16 and a beta of 1.18. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.48 and a current ratio of 2.82. DexCom has a 52-week low of $62.34 and a 52-week high of $142.00. The company has a fifty day moving average of $70.11 and a 200-day moving average of $98.24.

DexCom (NASDAQ:DXCM) last issued its 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 firm had revenue of $994.20 million for the quarter, compared to analysts’ expectations of $991.55 million. DexCom had a net margin of 16.95% and a return on equity of 31.41%. As a group, equities research analysts predict that DexCom will post 1.69 EPS for the current fiscal year.

Insider Buying and Selling at DexCom

In other news, EVP Michael Jon Brown sold 652 shares of DexCom stock in a transaction that occurred on Wednesday, July 31st. The shares were 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 in the company, valued at $4,607,617.95. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP Sadie Stern sold 426 shares of the business’s stock in a transaction that occurred 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 in the company, 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 filing with the SEC, which can be accessed through the SEC website. Also, EVP Michael Jon Brown sold 652 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $69.55, for a total transaction of $45,346.60. Following the completion of the transaction, the executive vice president now owns 66,249 shares in the company, valued at $4,607,617.95. 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 have sold 1,824 shares of company stock worth $126,390. Company insiders own 0.30% of the company’s stock.

Institutional Investors Weigh In On DexCom

Hedge funds and other institutional investors have recently modified their holdings of the stock. Taylor Frigon Capital Management LLC grew its holdings in DexCom by 51.6% during 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 purchasing an additional 11,075 shares during the period. Waters Parkerson & CO. LLC increased its stake in shares of DexCom by 4.2% in the second quarter. Waters Parkerson & CO. LLC now owns 272,641 shares of the medical device company’s stock worth $30,912,000 after purchasing an additional 10,892 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of DexCom by 1.7% during the 2nd quarter. Legal & General Group Plc now owns 2,993,049 shares of the medical device company’s stock valued at $339,352,000 after buying an additional 49,076 shares in the last quarter. Factory Mutual Insurance Co. increased its stake in DexCom by 136.1% in the 3rd quarter. Factory Mutual Insurance Co. now owns 404,230 shares of the medical device company’s stock worth $27,100,000 after buying an additional 233,000 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its holdings in DexCom by 533.1% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 36,510 shares of the medical device company’s stock valued at $4,140,000 after acquiring an additional 30,743 shares during the period. 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.