DexCom (NASDAQ:DXCM) Price Target Raised to $103.00 at Canaccord Genuity Group

DexCom (NASDAQ:DXCM - Free Report) had its price objective lifted by Canaccord Genuity Group from $99.00 to $103.00 in a report released on Friday morning,Benzinga reports. They currently have a buy rating on the medical device company's stock.

Several other equities research analysts have also recently commented on DXCM. Raymond James dropped their target price on DexCom from $115.00 to $99.00 and set a "strong-buy" rating on the stock in a report on Friday, October 25th. Citigroup boosted 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. Robert W. Baird raised DexCom from a "neutral" rating to an "outperform" rating and boosted their target price for the stock from $86.00 to $104.00 in a report on Thursday, January 16th. Sanford C. Bernstein boosted their target price on DexCom from $82.00 to $86.00 and gave the stock an "outperform" rating in a report on Friday, October 25th. Finally, Oppenheimer dropped their price target on DexCom from $115.00 to $105.00 and set an "outperform" rating on the stock in a report on Friday, October 25th. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $99.06.

DexCom Stock Performance

Shares of NASDAQ DXCM traded up $1.46 during midday trading on Friday, hitting $90.53. 5,693,359 shares of the company's stock were exchanged, compared to its average volume of 3,651,431. The company has a debt-to-equity ratio of 1.23, a current ratio of 2.46 and a quick ratio of 2.12. The stock's 50 day moving average price is $82.65 and its 200-day moving average price is $75.62. The firm has a market cap of $35.36 billion, a P/E ratio of 54.21, a PEG ratio of 2.26 and a beta of 1.14. DexCom has a twelve month low of $62.34 and a twelve month high of $142.00.

DexCom (NASDAQ:DXCM - Get Free Report) last announced its earnings results on Thursday, February 13th. The medical device company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.05). DexCom had a return on equity of 31.40% and a net margin of 17.22%. Equities research analysts anticipate that DexCom will post 1.69 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Kevin R. Sayer sold 33,359 shares of the stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $86.91, for a total transaction of $2,899,230.69. Following the completion of the sale, the chief executive officer now directly owns 319,037 shares in the company, valued at approximately $27,727,505.67. This trade represents a 9.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jereme M. Sylvain sold 2,090 shares of the stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $86.91, for a total value of $181,641.90. Following the sale, the executive vice president now owns 83,526 shares of the company's stock, valued at approximately $7,259,244.66. This represents a 2.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,342 shares of company stock worth $3,628,069. Corporate insiders own 0.30% of the company's stock.

Institutional Trading of DexCom

Several hedge funds and other institutional investors have recently modified their holdings of DXCM. Forvis Mazars Wealth Advisors LLC increased its position in DexCom by 0.7% during the fourth quarter. Forvis Mazars Wealth Advisors LLC now owns 17,481 shares of the medical device company's stock worth $1,359,000 after buying an additional 118 shares during the last quarter. Principal Securities Inc. increased its position in DexCom by 3.4% during the fourth quarter. Principal Securities Inc. now owns 4,069 shares of the medical device company's stock worth $316,000 after buying an additional 135 shares during the last quarter. Larson Financial Group LLC increased its position in DexCom by 40.5% during the fourth quarter. Larson Financial Group LLC now owns 475 shares of the medical device company's stock worth $37,000 after buying an additional 137 shares during the last quarter. Nia Impact Advisors LLC increased its position in DexCom by 1.4% during the fourth quarter. Nia Impact Advisors LLC now owns 9,850 shares of the medical device company's stock worth $766,000 after buying an additional 140 shares during the last quarter. Finally, Level Four Advisory Services LLC increased its position in DexCom by 1.1% during the fourth quarter. Level Four Advisory Services LLC now owns 13,196 shares of the medical device company's stock worth $1,026,000 after buying an additional 150 shares during the last quarter. 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.