Royal Bank of Canada Trims DexCom (NASDAQ:DXCM) Target Price to $115.00

DexCom (NASDAQ:DXCM) had its price target reduced by Royal Bank of Canada from $120.00 to $115.00 in a research note released on Friday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the medical device company’s stock.

A number of other equities analysts have also recently issued reports on the company. UBS Group decreased their target price on DexCom from $163.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, July 26th. StockNews.com cut DexCom from a “buy” rating to a “hold” rating in a report on Saturday, October 12th. Morgan Stanley decreased their target price on DexCom from $120.00 to $75.00 and set an “equal weight” rating on the stock in a report on Friday, July 26th. Wells Fargo & Company lifted their target price on DexCom from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday. Finally, BTIG Research decreased their target price on DexCom from $156.00 to $120.00 and set a “buy” rating on the stock in a report on Friday, July 26th. Six analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $104.59.

DexCom Stock Down 1.9 %

Shares of DXCM stock opened at $73.44 on Friday. DexCom has a 1 year low of $62.34 and a 1 year high of $142.00. The stock has a market cap of $29.21 billion, a PE ratio of 47.38, a price-to-earnings-growth ratio of 2.26 and a beta of 1.18. The business’s fifty day moving average is $70.11 and its 200-day moving average is $97.95. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.48 and a current ratio of 2.82.

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

Insider Transactions at DexCom

In related news, EVP Sadie Stern sold 426 shares of the 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 $29,457.90. Following the completion of the sale, the executive vice president now owns 75,451 shares in the company, valued at $5,217,436.65. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other DexCom news, EVP Sadie Stern sold 426 shares of the company’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 value of $29,457.90. Following the completion of the transaction, the executive vice president now owns 75,451 shares of the company’s stock, valued at $5,217,436.65. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Jacob Steven Leach sold 746 shares of the company’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 value 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 disclosure for this sale can be found here. In the last quarter, insiders sold 1,824 shares of company stock worth $126,390. 0.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On DexCom

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of DexCom by 0.3% in the 1st 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. Blair William & Co. IL boosted its position in DexCom by 1.4% in the 1st quarter. Blair William & Co. IL now owns 4,532,687 shares of the medical device company’s stock valued at $628,684,000 after buying an additional 64,683 shares during the last quarter. Legal & General Group Plc boosted its position in shares of DexCom by 1.7% in the 2nd quarter. Legal & General Group Plc now owns 2,993,049 shares of the medical device company’s stock worth $339,352,000 after purchasing an additional 49,076 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position 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 worth $276,538,000 after purchasing an additional 353,019 shares during the last quarter. Finally, 1832 Asset Management L.P. boosted its position in shares of DexCom by 1.1% in the 1st quarter. 1832 Asset Management L.P. now owns 1,823,400 shares of the medical device company’s stock worth $252,906,000 after purchasing an additional 20,400 shares during the last quarter. 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.