Robert W. Baird Upgrades DexCom (NASDAQ:DXCM) to "Outperform"

DexCom (NASDAQ:DXCM - Get Free Report) was upgraded by equities researchers at Robert W. Baird from a "neutral" rating to an "outperform" rating in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports. The firm presently has a $104.00 target price on the medical device company's stock, up from their previous target price of $86.00. Robert W. Baird's price objective suggests a potential upside of 22.58% from the company's current price.

DXCM has been the topic of several other research reports. Canaccord Genuity Group lifted their price objective on DexCom from $89.00 to $99.00 and gave the company a "buy" rating in a report on Monday, December 9th. Royal Bank of Canada cut their price target on shares of DexCom from $120.00 to $115.00 and set an "outperform" rating on the stock in a research note on Friday, October 25th. Wells Fargo & Company increased their price objective on shares of DexCom from $90.00 to $94.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 11th. Sanford C. Bernstein boosted their price objective on shares of DexCom from $82.00 to $86.00 and gave the company an "outperform" rating in a research report on Friday, October 25th. Finally, Oppenheimer reduced their target price on shares of DexCom from $115.00 to $105.00 and set an "outperform" rating for the company in a research note on Friday, October 25th. Six investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $99.29.

DexCom Trading Up 5.5 %

DexCom stock traded up $4.44 during mid-day trading on Thursday, hitting $84.84. 5,998,762 shares of the company's stock were exchanged, compared to its average volume of 3,834,166. The company's 50 day simple moving average is $77.89 and its 200-day simple moving average is $78.41. The company has a quick ratio of 2.12, a current ratio of 2.46 and a debt-to-equity ratio of 1.23. The firm has a market capitalization of $33.14 billion, a P/E ratio of 50.80, a PEG ratio of 2.00 and a beta of 1.12. DexCom has a fifty-two week low of $62.34 and a fifty-two week high of $142.00.

Insider Buying and Selling at DexCom

In related news, EVP Sadie Stern sold 4,259 shares of the company's stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $74.73, for a total value of $318,275.07. Following the transaction, the executive vice president now owns 71,192 shares in the company, valued at approximately $5,320,178.16. This represents a 5.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.30% of the company's stock.

Institutional Investors Weigh In On DexCom

A number of institutional investors have recently made changes to their positions in DXCM. Versant Capital Management Inc bought a new stake in DexCom in the 4th quarter valued at $25,000. Riverview Trust Co increased its position in DexCom by 100.4% during the 3rd quarter. Riverview Trust Co now owns 463 shares of the medical device company's stock worth $31,000 after buying an additional 232 shares during the period. RPg Family Wealth Advisory LLC acquired a new stake in shares of DexCom during the third quarter worth $57,000. Covestor Ltd boosted its position in shares of DexCom by 53.7% in the third quarter. Covestor Ltd now owns 959 shares of the medical device company's stock valued at $64,000 after acquiring an additional 335 shares during the period. Finally, MassMutual Private Wealth & Trust FSB grew its stake in shares of DexCom by 46.7% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 833 shares of the medical device company's stock valued at $65,000 after acquiring an additional 265 shares in the last quarter. Institutional investors own 97.75% of the company's stock.

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.