Royal Bank of Canada Cuts DexCom (NASDAQ:DXCM) Price Target to $120.00

DexCom (NASDAQ:DXCM) had its price target cut by Royal Bank of Canada from $130.00 to $120.00 in a research note released on Tuesday, Benzinga reports. They currently have an outperform rating on the medical device company’s stock.

Other analysts also recently issued reports about the company. Robert W. Baird upped their price objective on DexCom from $80.00 to $82.00 and gave the stock a neutral rating in a report on Monday, August 5th. Wells Fargo & Company dropped their price objective on DexCom from $145.00 to $80.00 and set an overweight rating for the company in a report on Friday, July 26th. Canaccord Genuity Group restated a buy rating and set a $145.00 price objective on shares of DexCom in a report on Tuesday, July 23rd. JPMorgan Chase & Co. cut shares of DexCom from an overweight rating to a neutral rating and decreased their price target for the stock from $145.00 to $75.00 in a research report on Friday, July 26th. Finally, Stifel Nicolaus upped their price target 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. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $110.69.

DexCom Trading Down 0.1 %

Shares of DXCM opened at $69.56 on Tuesday. The stock has a fifty day moving average of $70.25 and a two-hundred day moving average of $103.61. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.48 and a current ratio of 2.82. The company has a market capitalization of $27.87 billion, a PE ratio of 42.94, a price-to-earnings-growth ratio of 2.16 and a beta of 1.18. DexCom has a fifty-two week low of $62.34 and a fifty-two week high of $142.00.

DexCom (NASDAQ:DXCM) last released its quarterly earnings data on Thursday, July 25th. The medical device company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.04. The business had revenue of $1 billion during the quarter, compared to the consensus estimate of $1.04 billion. DexCom had a return on equity of 31.41% and a net margin of 16.95%. The business’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.34 EPS. As a group, analysts forecast that DexCom will post 1.69 EPS for the current year.

Insider Buying and Selling at DexCom

In other news, EVP Sadie Stern sold 426 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $69.15, for a total transaction of $29,457.90. Following the transaction, the executive vice president now owns 75,451 shares of the company’s stock, valued at approximately $5,217,436.65. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, EVP Sadie Stern sold 426 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $69.15, for a total transaction of $29,457.90. Following the transaction, the executive vice president now owns 75,451 shares of the company’s stock, valued at approximately $5,217,436.65. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Michael Jon Brown sold 652 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $69.55, for a total transaction of $45,346.60. Following the transaction, the executive vice president now directly owns 66,249 shares in the company, valued at $4,607,617.95. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,824 shares of company stock valued at $126,390 in the last ninety days. Insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On DexCom

Large investors have recently modified their holdings of the stock. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of DexCom during the second quarter worth about $25,000. Sachetta LLC raised its stake in DexCom by 255.2% during the second quarter. Sachetta LLC now owns 238 shares of the medical device company’s stock worth $27,000 after acquiring an additional 171 shares during the period. Crewe Advisors LLC acquired a new stake in DexCom during the first quarter worth about $29,000. Riverview Trust Co acquired a new stake in DexCom during the first quarter worth about $32,000. Finally, DT Investment Partners LLC raised its stake in DexCom by 492.2% during the second quarter. DT Investment Partners LLC now owns 379 shares of the medical device company’s stock worth $43,000 after acquiring an additional 315 shares during the period. Institutional investors 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.