DexCom (NASDAQ:DXCM) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

DexCom (NASDAQ:DXCM) had its target price lifted by analysts at Canaccord Genuity Group from $89.00 to $99.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the medical device company’s stock. Canaccord Genuity Group’s price target points to a potential upside of 27.58% from the company’s previous close.

A number of other equities analysts also recently commented on DXCM. JPMorgan Chase & Co. raised their price objective on shares of DexCom from $75.00 to $85.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Wells Fargo & Company increased their price target on shares of DexCom from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Stifel Nicolaus boosted their price objective on shares of DexCom from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Leerink Partners lowered their target price on DexCom from $90.00 to $87.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Finally, Royal Bank of Canada cut their price target on DexCom from $120.00 to $115.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Seven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, DexCom currently has an average rating of “Moderate Buy” and an average price target of $101.88.

DexCom Stock Performance

DXCM traded down $0.12 on Monday, hitting $77.60. 664,375 shares of the stock traded hands, compared to its average volume of 3,892,125. The business has a fifty day moving average price of $72.55 and a two-hundred day moving average price of $85.74. 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 has a 52 week low of $62.34 and a 52 week high of $142.00. The firm has a market capitalization of $30.31 billion, a PE ratio of 46.47, a P/E/G ratio of 2.38 and a beta of 1.12.

Insider Transactions at DexCom

In related news, EVP Sadie Stern sold 4,259 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $74.73, for a total transaction of $318,275.07. Following the completion of 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.30% of the stock is owned by insiders.

Hedge Funds Weigh In On DexCom

Large investors have recently modified their holdings of the business. Jennison Associates LLC increased its holdings in DexCom by 1,683.2% during the third quarter. Jennison Associates LLC now owns 6,932,899 shares of the medical device company’s stock worth $464,782,000 after buying an additional 6,544,102 shares during the last quarter. Westfield Capital Management Co. LP raised its holdings in shares of DexCom by 44.6% in the 3rd quarter. Westfield Capital Management Co. LP now owns 2,842,057 shares of the medical device company’s stock valued at $190,532,000 after purchasing an additional 876,739 shares during the period. Two Sigma Advisers LP lifted its stake in DexCom by 182.7% in the 3rd quarter. Two Sigma Advisers LP now owns 1,143,476 shares of the medical device company’s stock valued at $76,659,000 after purchasing an additional 739,000 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in DexCom by 189.1% during the second quarter. Canada Pension Plan Investment Board now owns 665,646 shares of the medical device company’s stock worth $75,471,000 after purchasing an additional 435,401 shares during the period. Finally, Intech Investment Management LLC raised its stake in DexCom by 2,083.0% in the third quarter. Intech Investment Management LLC now owns 387,330 shares of the medical device company’s stock valued at $25,967,000 after buying an additional 369,587 shares during the period. 97.75% of the stock is currently owned by institutional investors and hedge funds.

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.