DexCom (NASDAQ:DXCM) Price Target Cut to $95.00

DexCom (NASDAQ:DXCM) had its target price dropped by analysts at UBS Group from $163.00 to $95.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the medical device company’s stock. UBS Group’s target price indicates a potential upside of 50.87% from the company’s current price.

Other equities analysts have also issued reports about the company. Morgan Stanley decreased their price target on DexCom from $132.00 to $120.00 and set an “equal weight” rating for the company in a research note on Monday, July 15th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $145.00 target price on shares of DexCom in a research note on Tuesday. Wells Fargo & Company dropped their price target on shares of DexCom from $145.00 to $80.00 and set an “overweight” rating on the stock in a research report on Friday. JPMorgan Chase & Co. lowered shares of DexCom from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $145.00 to $75.00 in a research report on Friday. Finally, Royal Bank of Canada cut their target price on shares of DexCom from $165.00 to $145.00 and set an “outperform” rating for the company in a research note on Friday. Six research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $115.60.

DexCom Stock Performance

Shares of NASDAQ DXCM traded down $44.88 during midday trading on Friday, reaching $62.97. 37,868,580 shares of the company traded hands, compared to its average volume of 3,160,550. The stock has a 50-day moving average price of $116.63 and a 200 day moving average price of $124.29. The company has a market cap of $25.04 billion, a price-to-earnings ratio of 41.02, a PEG ratio of 2.74 and a beta of 1.16. The company has a debt-to-equity ratio of 1.08, a current ratio of 2.90 and a quick ratio of 2.53. DexCom has a 52 week low of $62.34 and a 52 week high of $142.00.

DexCom (NASDAQ:DXCM) last released its quarterly earnings results 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 company had revenue of $1 billion for the quarter, compared to the consensus estimate of $1.04 billion. DexCom had a net margin of 16.82% and a return on equity of 31.01%. DexCom’s revenue was up 15.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.34 EPS. Sell-side analysts anticipate that DexCom will post 1.78 earnings per share for the current fiscal year.

Insider Transactions at DexCom

In related news, EVP Michael Jon Brown sold 629 shares of the company’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $126.25, for a total transaction of $79,411.25. Following the transaction, the executive vice president now directly owns 68,212 shares of the company’s stock, valued at $8,611,765. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other DexCom news, EVP Michael Jon Brown sold 629 shares of the stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $126.25, for a total value of $79,411.25. Following the completion of the sale, the executive vice president now owns 68,212 shares in the company, valued at approximately $8,611,765. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Jereme M. Sylvain sold 745 shares of DexCom stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $115.05, for a total value of $85,712.25. Following the completion of the transaction, the chief financial officer now directly owns 84,948 shares in the company, valued at $9,773,267.40. The disclosure for this sale can be found here. Insiders sold a total of 4,112 shares of company stock valued at $480,861 over the last quarter. Company insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On DexCom

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in DexCom by 0.3% during the first quarter. Vanguard Group Inc. now owns 44,603,745 shares of the medical device company’s stock worth $6,186,539,000 after buying an additional 136,282 shares in the last quarter. Capital Research Global Investors increased its stake in DexCom by 21.4% in the fourth quarter. Capital Research Global Investors now owns 15,296,032 shares of the medical device company’s stock valued at $1,898,085,000 after acquiring an additional 2,695,296 shares during the period. Sands Capital Management LLC raised its position in DexCom by 10.2% in the fourth quarter. Sands Capital Management LLC now owns 15,058,806 shares of the medical device company’s stock worth $1,868,647,000 after purchasing an additional 1,398,136 shares in the last quarter. Capital World Investors lifted its stake in DexCom by 130.7% during the fourth quarter. Capital World Investors now owns 9,278,685 shares of the medical device company’s stock worth $1,151,392,000 after purchasing an additional 5,256,092 shares during the period. Finally, Artisan Partners Limited Partnership boosted its holdings in DexCom by 164.8% during the fourth quarter. Artisan Partners Limited Partnership now owns 5,900,308 shares of the medical device company’s stock valued at $732,169,000 after purchasing an additional 3,672,471 shares in the last quarter. 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.