DexCom (NASDAQ:DXCM) Price Target Increased to $90.00 by Analysts at Wells Fargo & Company

DexCom (NASDAQ:DXCM) had its price objective increased by equities research analysts at Wells Fargo & Company from $80.00 to $90.00 in a research note issued on Friday, Benzinga reports. The firm currently has an “overweight” rating on the medical device company’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 20.24% from the stock’s current price.

A number of other equities research analysts have also recently weighed in on DXCM. Piper Sandler restated an “overweight” rating and set a $90.00 price objective on shares of DexCom in a research note on Monday, August 26th. Morgan Stanley decreased their price target on shares of DexCom from $120.00 to $75.00 and set an “equal weight” rating for the company in a research report on Friday, July 26th. Canaccord Genuity Group restated a “buy” rating and issued a $145.00 price target on shares of DexCom in a report on Tuesday, July 23rd. StockNews.com lowered shares of DexCom from a “buy” rating to a “hold” rating in a research note on Saturday, October 12th. Finally, Barclays lowered their target price on shares of DexCom from $138.00 to $113.00 and set an “equal weight” rating for the company in a research note on Monday, July 29th. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $111.40.

DexCom Price Performance

DXCM opened at $74.85 on Friday. The company has a market capitalization of $29.77 billion, a price-to-earnings ratio of 48.29, a PEG ratio of 2.16 and a beta of 1.18. The company has a current ratio of 2.82, a quick ratio of 2.48 and a debt-to-equity ratio of 1.00. DexCom has a 12-month low of $62.34 and a 12-month high of $142.00. The business’s fifty day simple moving average is $70.13 and its 200-day simple moving average is $98.71.

DexCom (NASDAQ:DXCM) last released its quarterly earnings data on Thursday, October 24th. The medical device company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.02. DexCom had a net margin of 16.95% and a return on equity of 31.41%. The company had revenue of $994.20 million during the quarter, compared to analyst estimates of $991.55 million. On average, equities research analysts anticipate that DexCom will post 1.69 earnings per share for the current fiscal year.

Insider Buying and Selling

In other DexCom news, EVP Sadie Stern sold 426 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $69.15, for a total transaction of $29,457.90. Following the sale, the executive vice president now owns 75,451 shares in the company, valued at approximately $5,217,436.65. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other DexCom news, COO Jacob Steven Leach sold 746 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $69.15, for a total transaction of $51,585.90. Following the completion of the transaction, the chief operating officer now directly owns 264,915 shares of the company’s stock, valued at approximately $18,318,872.25. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Sadie Stern sold 426 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $69.15, for a total transaction of $29,457.90. Following the completion of the sale, the executive vice president now directly owns 75,451 shares in the company, valued at $5,217,436.65. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,824 shares of company stock worth $126,390 in the last 90 days. Insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. raised its stake in shares of DexCom by 103.0% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 5,306 shares of the medical device company’s stock valued at $356,000 after buying an additional 2,692 shares during the last quarter. abrdn plc grew its holdings in DexCom by 28.4% during the third quarter. abrdn plc now owns 384,646 shares of the medical device company’s stock worth $25,842,000 after acquiring an additional 85,174 shares during the period. Semanteon Capital Management LP purchased a new position in DexCom during the third quarter valued at approximately $922,000. State of Alaska Department of Revenue lifted its holdings in DexCom by 7.3% in the third quarter. State of Alaska Department of Revenue now owns 46,400 shares of the medical device company’s stock valued at $3,110,000 after acquiring an additional 3,155 shares during the period. Finally, Forsta AP Fonden boosted its position in DexCom by 16.6% in the 3rd quarter. Forsta AP Fonden now owns 83,700 shares of the medical device company’s stock worth $5,611,000 after purchasing an additional 11,900 shares in the last quarter. Hedge funds and other 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.