DexCom (NASDAQ:DXCM) Price Target Lowered to $115.00 at Royal Bank of Canada

DexCom (NASDAQ:DXCM - Get Free Report) had its target price reduced by investment analysts at Royal Bank of Canada from $120.00 to $115.00 in a report released on Friday, Benzinga reports. The firm presently has an "outperform" rating on the medical device company's stock. Royal Bank of Canada's target price would indicate a potential upside of 56.59% from the stock's previous close.

Several other research firms have also weighed in on DXCM. Barclays reduced their price objective on shares of DexCom from $138.00 to $113.00 and set an "equal weight" rating for the company in a research report on Monday, July 29th. Oppenheimer decreased their price target on shares of DexCom from $115.00 to $105.00 and set an "outperform" rating on the stock in a research report on Friday. Raymond James cut their price objective on DexCom from $115.00 to $99.00 and set a "strong-buy" rating for the company in a research report on Friday. Robert W. Baird lifted their target price on shares of DexCom from $80.00 to $82.00 and gave the stock a "neutral" rating in a research report on Monday, August 5th. Finally, Morgan Stanley decreased their price objective on shares of DexCom from $120.00 to $75.00 and set an "equal weight" rating for the company in a research note on Friday, July 26th. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $104.59.

DexCom Price Performance

DXCM stock traded down $1.41 during trading on Friday, hitting $73.44. The company had a trading volume of 14,560,038 shares, compared to its average volume of 3,904,948. The firm has a market capitalization of $29.21 billion, a price-to-earnings ratio of 47.38, a P/E/G ratio of 2.16 and a beta of 1.18. The company has a current ratio of 2.82, a quick ratio of 2.48 and a debt-to-equity ratio of 1.00. The business has a 50 day moving average of $70.11 and a 200 day moving average of $98.24. DexCom has a fifty-two week low of $62.34 and a fifty-two week high of $142.00.

DexCom (NASDAQ:DXCM - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The medical device company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.02. The company had revenue of $994.20 million for the quarter, compared to analysts' expectations of $991.55 million. DexCom had a return on equity of 31.41% and a net margin of 16.95%. As a group, research analysts predict that DexCom will post 1.69 earnings per share for the current year.

Insider Activity

In other DexCom news, EVP Sadie Stern sold 426 shares of the firm's stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $69.15, for a total transaction of $29,457.90. Following the transaction, the executive vice president now directly owns 75,451 shares in the company, valued at $5,217,436.65. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, COO Jacob Steven Leach sold 746 shares of DexCom stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $69.15, for a total value of $51,585.90. Following the transaction, the chief operating officer now directly owns 264,915 shares in the company, valued at approximately $18,318,872.25. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Sadie Stern sold 426 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $69.15, for a total value of $29,457.90. Following the sale, the executive vice president now owns 75,451 shares of the company's stock, valued at approximately $5,217,436.65. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,824 shares of company stock worth $126,390. 0.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On DexCom

Several hedge funds have recently modified their holdings of DXCM. New York State Teachers Retirement System boosted its holdings in DexCom by 1.6% in the 3rd quarter. New York State Teachers Retirement System now owns 366,308 shares of the medical device company's stock valued at $24,557,000 after purchasing an additional 5,804 shares during the period. Avitas Wealth Management LLC raised its position in shares of DexCom by 20.2% during the third quarter. Avitas Wealth Management LLC now owns 6,475 shares of the medical device company's stock valued at $434,000 after buying an additional 1,086 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in shares of DexCom by 103.0% in the third quarter. China Universal Asset Management Co. Ltd. now owns 5,306 shares of the medical device company's stock valued at $356,000 after buying an additional 2,692 shares during the period. abrdn plc grew its position in DexCom by 28.4% during the third quarter. abrdn plc now owns 384,646 shares of the medical device company's stock worth $25,842,000 after buying an additional 85,174 shares in the last quarter. Finally, Semanteon Capital Management LP bought a new position in DexCom during the third quarter valued at about $922,000. 97.75% of the stock is owned by 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.