DexCom (NASDAQ:DXCM) Given New $75.00 Price Target at Morgan Stanley

DexCom (NASDAQ:DXCM) had its price objective decreased by Morgan Stanley from $120.00 to $75.00 in a report released on Friday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the medical device company’s stock.

Several other equities research analysts have also recently weighed in on DXCM. StockNews.com cut shares of DexCom from a buy rating to a hold rating in a research report on Monday, June 10th. Oppenheimer reduced their price target on shares of DexCom from $150.00 to $115.00 and set an outperform rating on the stock in a research note on Friday. Redburn Atlantic initiated coverage on shares of DexCom in a report on Thursday, May 30th. They set a neutral rating and a $130.00 price target on the stock. Piper Sandler cut their target price on shares of DexCom from $150.00 to $90.00 and set an overweight rating on the stock in a research report on Friday. Finally, Citigroup upped their price target on shares of DexCom from $148.00 to $161.00 and gave the stock a buy rating in a report on Wednesday, April 3rd. Seven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $113.06.

DexCom Stock Down 40.7 %

DexCom stock opened at $64.00 on Friday. The company has a market cap of $25.45 billion, a P/E ratio of 41.29, a price-to-earnings-growth ratio of 2.64 and a beta of 1.16. The company has a fifty day simple moving average of $115.28 and a 200 day simple moving average of $123.83. The company has a current ratio of 2.90, a quick ratio of 2.53 and a debt-to-equity ratio of 1.08. DexCom has a 1-year low of $62.34 and a 1-year high of $142.00.

DexCom (NASDAQ:DXCM) last posted 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. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $1.04 billion. DexCom had a return on equity of 32.27% and a net margin of 16.95%. The firm’s revenue was up 15.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.34 EPS. Research analysts anticipate that DexCom will post 1.78 earnings per share for the current fiscal year.

Insider Activity at DexCom

In other DexCom news, EVP Michael Jon Brown sold 629 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 68,212 shares of the company’s stock, valued at approximately $8,611,765. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other DexCom news, EVP Michael Jon Brown sold 629 shares of the firm’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 in the company, valued at approximately $8,611,765. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Jereme M. Sylvain sold 745 shares of the company’s stock in a transaction on Monday, June 10th. The stock was 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 of the company’s stock, valued at approximately $9,773,267.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,112 shares of company stock valued at $480,861. 0.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On DexCom

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of New Hampshire bought a new position in shares of DexCom in the first quarter valued at approximately $1,508,000. abrdn plc boosted its position in DexCom by 21.1% in the fourth quarter. abrdn plc now owns 380,535 shares of the medical device company’s stock worth $47,221,000 after purchasing an additional 66,348 shares during the last quarter. Cerity Partners LLC boosted its position in DexCom by 5,791.0% in the fourth quarter. Cerity Partners LLC now owns 463,973 shares of the medical device company’s stock worth $57,574,000 after purchasing an additional 456,097 shares during the last quarter. Eagle Asset Management Inc. grew its stake in DexCom by 21.5% in the 4th quarter. Eagle Asset Management Inc. now owns 1,756,216 shares of the medical device company’s stock valued at $217,929,000 after purchasing an additional 310,728 shares during the period. Finally, Alberta Investment Management Corp increased its position in shares of DexCom by 27.0% during the 4th quarter. Alberta Investment Management Corp now owns 323,335 shares of the medical device company’s stock valued at $40,123,000 after purchasing an additional 68,723 shares during the last quarter. Hedge funds and other institutional investors 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.