Raymond James Trims DexCom (NASDAQ:DXCM) Target Price to $99.00

DexCom (NASDAQ:DXCM) had its price target trimmed by Raymond James from $115.00 to $99.00 in a research note published on Friday, Benzinga reports. The firm currently has a strong-buy rating on the medical device company’s stock.

DXCM has been the subject of several other reports. Canaccord Genuity Group restated a “buy” rating and set a $145.00 price objective on shares of DexCom in a research report on Tuesday, July 23rd. JPMorgan Chase & Co. raised their price objective on shares of DexCom from $75.00 to $85.00 and gave the stock a “neutral” rating in a research report on Friday. Royal Bank of Canada cut their price objective on shares of DexCom from $130.00 to $120.00 and set an “outperform” rating for the company in a research report on Tuesday, October 8th. Leerink Partners cut their price objective on shares of DexCom from $90.00 to $87.00 and set an “outperform” rating for the company in a research report on Friday. Finally, Barclays cut their price objective on shares of DexCom from $138.00 to $113.00 and set an “equal weight” rating for the company in a research report on Monday, July 29th. Six research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, DexCom has an average rating of “Moderate Buy” and an average price target of $104.59.

DexCom Price Performance

Shares of NASDAQ DXCM opened at $73.44 on Friday. The firm has a 50-day simple moving average of $70.11 and a 200-day simple moving average of $97.95. The stock has a market capitalization of $29.21 billion, a price-to-earnings ratio of 47.38, a price-to-earnings-growth ratio of 2.26 and a beta of 1.18. The company has a quick ratio of 2.48, a current ratio of 2.82 and a debt-to-equity ratio of 1.00. DexCom has a 52 week low of $62.34 and a 52 week high of $142.00.

DexCom (NASDAQ:DXCM) last issued its earnings results on Thursday, July 25th. The medical device company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.04. DexCom had a net margin of 16.95% and a return on equity of 31.41%. The business had revenue of $1 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the prior year, the business earned $0.34 earnings per share. The company’s quarterly revenue was up 15.3% compared to the same quarter last year. On average, equities analysts predict that DexCom will post 1.69 earnings per share for the current fiscal year.

Insider Buying and Selling

In other DexCom news, EVP Michael Jon Brown sold 652 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $69.55, for a total transaction of $45,346.60. Following the sale, the executive vice president now owns 66,249 shares of the company’s stock, valued at approximately $4,607,617.95. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other DexCom news, EVP Michael Jon Brown sold 652 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $69.55, for a total transaction of $45,346.60. Following the sale, the executive vice president now owns 66,249 shares of the company’s stock, valued at approximately $4,607,617.95. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jacob Steven Leach sold 746 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $69.15, for a total transaction of $51,585.90. Following the sale, the chief operating officer now directly owns 264,915 shares in the company, valued at approximately $18,318,872.25. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,824 shares of company stock worth $126,390 over the last 90 days. 0.30% of the stock is owned by insiders.

Hedge Funds Weigh In On DexCom

A number of institutional investors have recently modified their holdings of DXCM. Canada Pension Plan Investment Board increased its holdings in shares of DexCom by 189.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 665,646 shares of the medical device company’s stock valued at $75,471,000 after acquiring an additional 435,401 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of DexCom by 16.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,439,033 shares of the medical device company’s stock valued at $276,538,000 after acquiring an additional 353,019 shares during the period. Assenagon Asset Management S.A. increased its holdings in shares of DexCom by 53.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 989,740 shares of the medical device company’s stock valued at $66,352,000 after acquiring an additional 345,114 shares during the period. Bellevue Group AG increased its holdings in shares of DexCom by 33.5% in the 1st quarter. Bellevue Group AG now owns 1,221,197 shares of the medical device company’s stock valued at $169,380,000 after acquiring an additional 306,604 shares during the period. Finally, Magnetar Financial LLC acquired a new position in shares of DexCom in the 2nd quarter valued at $31,793,000. 97.75% of the stock is owned by institutional investors and hedge funds.

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.