DexCom (NASDAQ:DXCM) Given New $103.00 Price Target at Canaccord Genuity Group

DexCom (NASDAQ:DXCM) had its price objective raised by analysts at Canaccord Genuity Group from $99.00 to $103.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the medical device company’s stock. Canaccord Genuity Group’s target price points to a potential upside of 15.73% from the company’s previous close.

DXCM has been the subject of several other reports. Wells Fargo & Company boosted their price objective on DexCom from $90.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Citigroup boosted their price objective on DexCom from $85.00 to $91.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Leerink Partners decreased their price objective on DexCom from $90.00 to $87.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Robert W. Baird upgraded DexCom from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $86.00 to $104.00 in a research report on Thursday, January 16th. Finally, Royal Bank of Canada decreased their price objective on DexCom from $120.00 to $115.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $99.06.

DexCom Stock Performance

Shares of DXCM stock opened at $89.00 on Friday. The company has a debt-to-equity ratio of 1.23, a current ratio of 2.46 and a quick ratio of 2.12. The stock has a market cap of $34.76 billion, a PE ratio of 52.53, a price-to-earnings-growth ratio of 2.26 and a beta of 1.14. The stock has a 50-day moving average of $82.11 and a 200-day moving average of $75.19. DexCom has a one year low of $62.34 and a one year high of $142.00.

DexCom (NASDAQ:DXCM) last announced 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 17.22% and a return on equity of 31.40%. As a group, sell-side analysts expect 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 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 transaction, the chief operating officer now directly owns 268,644 shares of the company’s stock, valued at approximately $23,347,850.04. This trade represents a 0.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jereme M. Sylvain sold 2,090 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 transaction of $181,641.90. Following the completion of the transaction, the executive vice president now directly owns 83,526 shares of the company’s stock, valued at $7,259,244.66. This represents a 2.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 42,342 shares of company stock valued at $3,628,069. 0.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On DexCom

Several hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted its holdings in DexCom by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 9,993,698 shares of the medical device company’s stock valued at $775,256,000 after purchasing an additional 56,094 shares during the last quarter. Jennison Associates LLC lifted its holdings in DexCom by 10.3% during the 4th quarter. Jennison Associates LLC now owns 7,643,757 shares of the medical device company’s stock valued at $594,455,000 after purchasing an additional 710,858 shares during the last quarter. Norges Bank acquired a new stake in DexCom during the 4th quarter valued at $385,367,000. Groupama Asset Managment lifted its holdings in DexCom by 1.1% during the 3rd quarter. Groupama Asset Managment now owns 2,851,556 shares of the medical device company’s stock valued at $1,912,000 after purchasing an additional 31,358 shares during the last quarter. Finally, Westfield Capital Management Co. LP lifted its holdings in DexCom by 44.6% during 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 last quarter. Institutional investors and hedge funds 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.