DexCom (NASDAQ:DXCM) Price Target Raised to $104.00 at Citigroup

DexCom (NASDAQ:DXCM - Free Report) had its price objective lifted by Citigroup from $101.00 to $104.00 in a report published on Tuesday morning,Benzinga reports. Citigroup currently has a buy rating on the medical device company's stock.

A number of other research firms have also weighed in on DXCM. Robert W. Baird raised DexCom from a "neutral" rating to an "outperform" rating and increased their price objective for the company from $86.00 to $104.00 in a research note on Thursday, January 16th. Wells Fargo & Company increased their price objective on DexCom from $90.00 to $94.00 and gave the company an "overweight" rating in a research note on Wednesday, December 11th. Baird R W raised DexCom from a "hold" rating to a "strong-buy" rating in a research note on Thursday, January 16th. Morgan Stanley increased their price objective on DexCom from $75.00 to $82.00 and gave the company an "equal weight" rating in a research note on Friday, February 14th. Finally, Canaccord Genuity Group increased their price objective on DexCom from $99.00 to $103.00 and gave the company a "buy" rating in a research note on Friday, February 14th. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $99.82.

DexCom Price Performance

NASDAQ DXCM traded down $0.46 on Tuesday, reaching $81.96. 3,343,027 shares of the company's stock traded hands, compared to its average volume of 3,675,153. DexCom has a 12 month low of $62.34 and a 12 month high of $142.00. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.47 and a quick ratio of 1.28. The stock has a 50-day simple moving average of $84.90 and a 200 day simple moving average of $76.94. The stock has a market cap of $32.03 billion, a PE ratio of 57.31, a P/E/G ratio of 2.30 and a beta of 1.14.

DexCom (NASDAQ:DXCM - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The medical device company reported $0.45 EPS for the quarter, missing analysts' consensus estimates of $0.50 by ($0.05). DexCom had a net margin of 14.29% and a return on equity of 30.14%. As a group, research analysts predict that DexCom will post 2.03 earnings per share for the current year.

Insiders Place Their Bets

In other DexCom news, 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 completion of the transaction, the executive vice president now owns 83,526 shares in the company, valued at approximately $7,259,244.66. This represents a 2.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kevin R. Sayer sold 33,359 shares of the firm's stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $86.91, for a total value of $2,899,230.69. Following the transaction, the chief executive officer now owns 319,037 shares of the company's stock, valued at $27,727,505.67. The trade was a 9.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,083 shares of company stock worth $3,309,794. 0.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On DexCom

Institutional investors and hedge funds have recently modified their holdings of the stock. Forvis Mazars Wealth Advisors LLC lifted its holdings in DexCom by 0.7% in the 4th quarter. Forvis Mazars Wealth Advisors LLC now owns 17,481 shares of the medical device company's stock worth $1,359,000 after purchasing an additional 118 shares in the last quarter. Principal Securities Inc. lifted its holdings in DexCom by 3.4% in the 4th quarter. Principal Securities Inc. now owns 4,069 shares of the medical device company's stock worth $316,000 after purchasing an additional 135 shares in the last quarter. Larson Financial Group LLC lifted its holdings in DexCom by 40.5% in the 4th quarter. Larson Financial Group LLC now owns 475 shares of the medical device company's stock worth $37,000 after purchasing an additional 137 shares in the last quarter. Nia Impact Advisors LLC lifted its holdings in DexCom by 1.4% in the 4th quarter. Nia Impact Advisors LLC now owns 9,850 shares of the medical device company's stock worth $766,000 after purchasing an additional 140 shares in the last quarter. Finally, Level Four Advisory Services LLC lifted its holdings in DexCom by 1.1% in the 4th quarter. Level Four Advisory Services LLC now owns 13,196 shares of the medical device company's stock worth $1,026,000 after purchasing an additional 150 shares in the last quarter. 97.75% of the stock is currently owned by institutional investors.

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.