Morgan Stanley Issues Positive Forecast for DexCom (NASDAQ:DXCM) Stock Price

DexCom (NASDAQ:DXCM - Free Report) had its price objective boosted by Morgan Stanley from $75.00 to $82.00 in a research report report published on Friday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the medical device company's stock.

Other research analysts have also recently issued research reports about the stock. Oppenheimer cut their price target 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. StockNews.com cut shares of DexCom from a "buy" rating to a "hold" rating in a research note on Saturday, November 2nd. JPMorgan Chase & Co. raised their price target on shares of DexCom from $75.00 to $85.00 and gave the stock a "neutral" rating in a research note on Friday, October 25th. Redburn Atlantic upgraded shares of DexCom from a "neutral" rating to a "buy" rating and raised their price target for the stock from $85.00 to $115.00 in a research note on Monday, February 3rd. Finally, Canaccord Genuity Group raised their price target on shares of DexCom from $99.00 to $103.00 and gave the stock a "buy" rating in a research note on Friday. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $99.06.

DexCom Stock Performance

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

DexCom (NASDAQ:DXCM - Get Free Report) last released its earnings results on Thursday, February 13th. The medical device company reported $0.45 earnings per share for the quarter, missing analysts' consensus estimates of $0.50 by ($0.05). DexCom had a return on equity of 31.40% and a net margin of 17.22%. As a group, sell-side analysts anticipate that DexCom will post 1.69 earnings per share for the current year.

Insider Activity at DexCom

In related news, COO Jacob Steven Leach sold 2,634 shares of the firm's stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $86.91, for a total value of $228,920.94. Following the completion of the sale, the chief operating officer now owns 268,644 shares of the company's stock, valued at $23,347,850.04. This trade represents a 0.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Kevin R. Sayer sold 33,359 shares of the firm's stock in a transaction that occurred on Wednesday, January 29th. The shares were 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 of the company's stock, valued at approximately $27,727,505.67. This represents a 9.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 42,342 shares of company stock valued at $3,628,069 over the last quarter. Corporate insiders own 0.30% of the company's stock.

Institutional Trading of DexCom

A number of institutional investors have recently bought and sold shares of the business. Forvis Mazars Wealth Advisors LLC grew its holdings in DexCom by 0.7% during 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 acquiring an additional 118 shares during the period. Principal Securities Inc. grew its holdings in DexCom by 3.4% during the 4th quarter. Principal Securities Inc. now owns 4,069 shares of the medical device company's stock worth $316,000 after acquiring an additional 135 shares during the period. Larson Financial Group LLC grew its holdings in DexCom by 40.5% during the 4th quarter. Larson Financial Group LLC now owns 475 shares of the medical device company's stock worth $37,000 after acquiring an additional 137 shares during the period. Nia Impact Advisors LLC grew its holdings in DexCom by 1.4% during the 4th quarter. Nia Impact Advisors LLC now owns 9,850 shares of the medical device company's stock worth $766,000 after acquiring an additional 140 shares during the period. Finally, Level Four Advisory Services LLC grew its holdings in DexCom by 1.1% during 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 acquiring an additional 150 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.