Brokerages Set DexCom, Inc. (NASDAQ:DXCM) Target Price at $98.00

Shares of DexCom, Inc. (NASDAQ:DXCM - Get Free Report) have received an average rating of "Moderate Buy" from the eighteen analysts that are covering the stock, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $98.00.

Several research analysts have recently issued reports on the stock. Sanford C. Bernstein increased their price objective on shares of DexCom from $82.00 to $86.00 and gave the company an "outperform" rating in a report on Friday, October 25th. StockNews.com lowered DexCom from a "buy" rating to a "hold" rating in a research note on Saturday, November 2nd. JPMorgan Chase & Co. lifted their price target on DexCom from $75.00 to $85.00 and gave the company a "neutral" rating in a research report on Friday, October 25th. Wells Fargo & Company upped their price objective on DexCom from $90.00 to $94.00 and gave the company an "overweight" rating in a report on Wednesday, December 11th. Finally, Citigroup lifted their target price on DexCom from $85.00 to $91.00 and gave the stock a "buy" rating in a report on Wednesday, December 11th.

DexCom Stock Performance

Shares of NASDAQ:DXCM traded up $0.74 on Wednesday, hitting $80.09. The company's stock had a trading volume of 2,423,035 shares, compared to its average volume of 2,644,387. The company has a market capitalization of $31.28 billion, a price-to-earnings ratio of 47.96, a price-to-earnings-growth ratio of 2.46 and a beta of 1.12. The company has a debt-to-equity ratio of 1.23, a quick ratio of 2.12 and a current ratio of 2.46. DexCom has a 12 month low of $62.34 and a 12 month high of $142.00. The stock's 50-day moving average is $76.42 and its two-hundred day moving average is $79.52.

Insider Activity

In other DexCom news, EVP Sadie Stern sold 4,259 shares of the stock in a transaction 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 transaction, the executive vice president now directly owns 71,192 shares of the company's stock, valued at $5,320,178.16. This represents a 5.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On DexCom

Large investors have recently made changes to their positions in the business. Jennison Associates LLC raised its stake in shares of DexCom by 1,683.2% in the 3rd quarter. Jennison Associates LLC now owns 6,932,899 shares of the medical device company's stock valued at $464,782,000 after buying an additional 6,544,102 shares in the last quarter. Westfield Capital Management Co. LP increased its stake in DexCom by 44.6% in the third quarter. Westfield Capital Management Co. LP now owns 2,842,057 shares of the medical device company's stock valued at $190,532,000 after acquiring an additional 876,739 shares during the period. Two Sigma Advisers LP raised its position in DexCom by 182.7% in the third quarter. Two Sigma Advisers LP now owns 1,143,476 shares of the medical device company's stock worth $76,659,000 after purchasing an additional 739,000 shares in the last quarter. Canada Pension Plan Investment Board lifted its stake in DexCom by 189.1% during the second quarter. Canada Pension Plan Investment Board now owns 665,646 shares of the medical device company's stock worth $75,471,000 after purchasing an additional 435,401 shares during the period. Finally, Intech Investment Management LLC lifted its stake in DexCom by 2,083.0% during the third quarter. Intech Investment Management LLC now owns 387,330 shares of the medical device company's stock worth $25,967,000 after purchasing an additional 369,587 shares during the period. Institutional investors and hedge funds 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.