DexCom (NASDAQ:DXCM) Price Target Lowered to $80.00 at Wells Fargo & Company

DexCom (NASDAQ:DXCM) had its price objective cut by equities researchers at Wells Fargo & Company from $145.00 to $80.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has an “overweight” rating on the medical device company’s stock. Wells Fargo & Company‘s price objective would suggest a potential downside of 25.82% from the stock’s previous close.

DXCM has been the topic of a number of other reports. Canaccord Genuity Group reaffirmed a “buy” rating and set a $145.00 price objective on shares of DexCom in a report on Tuesday. Raymond James lifted their price objective on DexCom from $151.00 to $160.00 and gave the company a “strong-buy” rating in a report on Friday, April 26th. Robert W. Baird downgraded DexCom from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $161.00 to $80.00 in a report on Friday. Stifel Nicolaus decreased their price objective on DexCom from $145.00 to $132.00 and set a “buy” rating on the stock in a report on Friday, July 12th. Finally, JPMorgan Chase & Co. downgraded DexCom from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $145.00 to $75.00 in a report on Friday. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, DexCom has a consensus rating of “Moderate Buy” and an average target price of $130.60.

DexCom Stock Down 3.7 %

DXCM stock opened at $107.85 on Friday. DexCom has a twelve month low of $74.75 and a twelve month high of $142.00. The company has a market cap of $42.89 billion, a PE ratio of 69.58, a price-to-earnings-growth ratio of 2.74 and a beta of 1.16. The business’s 50-day simple moving average is $116.63 and its 200 day simple moving average is $124.29. The company has a quick ratio of 2.53, a current ratio of 2.90 and a debt-to-equity ratio of 1.08.

DexCom (NASDAQ:DXCM) last released its earnings results on Thursday, July 25th. The medical device company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.04. DexCom had a return on equity of 31.01% and a net margin of 16.82%. The business had revenue of $1 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same period last year, the business earned $0.34 earnings per share. The firm’s revenue for the quarter was up 15.3% compared to the same quarter last year. On average, research analysts anticipate that DexCom will post 1.78 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Michael Jon Brown sold 652 shares of the business’s stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $119.24, for a total value of $77,744.48. Following the completion of the transaction, the executive vice president now owns 67,560 shares in the company, valued at approximately $8,055,854.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other DexCom news, CFO Jereme M. Sylvain sold 745 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $115.05, for a total transaction of $85,712.25. Following the completion of the sale, the chief financial officer now owns 84,948 shares in the company, valued at approximately $9,773,267.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael Jon Brown sold 652 shares of the company’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $119.24, for a total transaction of $77,744.48. Following the sale, the executive vice president now owns 67,560 shares of the company’s stock, valued at approximately $8,055,854.40. The disclosure for this sale can be found here. Insiders sold 4,112 shares of company stock worth $480,861 in the last quarter. Insiders own 0.30% of the company’s stock.

Institutional Trading of DexCom

Institutional investors and hedge funds have recently made changes to their positions in the business. DSM Capital Partners LLC acquired a new position in shares of DexCom in the 4th quarter valued at $28,000. Crewe Advisors LLC acquired a new position in shares of DexCom in the 1st quarter valued at $29,000. Valley National Advisers Inc. grew its holdings in shares of DexCom by 73.0% in the 4th quarter. Valley National Advisers Inc. now owns 244 shares of the medical device company’s stock valued at $30,000 after buying an additional 103 shares during the period. Riverview Trust Co acquired a new position in shares of DexCom in the 1st quarter valued at $32,000. Finally, MV Capital Management Inc. grew its holdings in shares of DexCom by 99.3% in the 4th quarter. MV Capital Management Inc. now owns 277 shares of the medical device company’s stock valued at $34,000 after buying an additional 138 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.