Canaccord Genuity Group Forecasts Strong Price Appreciation for DexCom (NASDAQ:DXCM) Stock

DexCom (NASDAQ:DXCM) had its price target upped by investment analysts at Canaccord Genuity Group from $99.00 to $103.00 in a report released on Friday,Benzinga reports. The firm currently has a “buy” rating on the medical device company’s stock. Canaccord Genuity Group’s target price points to a potential upside of 15.64% from the stock’s previous close.

DXCM has been the topic of several other research reports. StockNews.com downgraded shares of DexCom from a “buy” rating to a “hold” rating in a report on Saturday, November 2nd. Wells Fargo & Company raised their price objective on shares of DexCom from $90.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Redburn Atlantic upgraded shares of DexCom from a “neutral” rating to a “buy” rating and lifted their target price for the company from $85.00 to $115.00 in a research report on Monday, February 3rd. Robert W. Baird upgraded shares of DexCom from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $86.00 to $104.00 in a research report on Thursday, January 16th. Finally, Sanford C. Bernstein boosted their price objective on shares of DexCom from $82.00 to $86.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $99.06.

DexCom Stock Performance

NASDAQ DXCM opened at $89.07 on Friday. DexCom has a 52-week low of $62.34 and a 52-week high of $142.00. The company has a debt-to-equity ratio of 1.23, a quick ratio of 2.12 and a current ratio of 2.46. The firm has a 50-day moving average of $82.44 and a 200-day moving average of $75.44. The stock has a market cap of $34.79 billion, a PE ratio of 53.34, a P/E/G ratio of 2.26 and a beta of 1.14.

DexCom (NASDAQ:DXCM) last announced its quarterly earnings results on Thursday, February 13th. The medical device company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.05). DexCom had a net margin of 17.22% and a return on equity of 31.40%. On average, sell-side analysts anticipate that DexCom will post 1.69 EPS for the current year.

Insider Buying and Selling

In related news, EVP Jereme M. Sylvain sold 2,090 shares of the firm’s stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $86.91, for a total value of $181,641.90. Following the completion of the transaction, the executive vice president now directly owns 83,526 shares of the company’s stock, valued at $7,259,244.66. This trade represents a 2.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Jacob Steven Leach sold 2,634 shares of the firm’s stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $86.91, for a total value of $228,920.94. Following the transaction, the chief operating officer now directly owns 268,644 shares of the company’s stock, valued at $23,347,850.04. The trade was a 0.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 42,342 shares of company stock worth $3,628,069 in the last quarter. 0.30% of the stock is owned by insiders.

Institutional Trading of DexCom

Institutional investors and hedge funds have recently bought and sold shares of the company. Forvis Mazars Wealth Advisors LLC boosted its stake in DexCom by 0.7% during the 4th quarter. Forvis Mazars Wealth Advisors LLC now owns 17,481 shares of the medical device company’s stock valued at $1,359,000 after purchasing an additional 118 shares in the last quarter. Principal Securities Inc. grew its position in shares of DexCom by 3.4% in the fourth quarter. Principal Securities Inc. now owns 4,069 shares of the medical device company’s stock valued at $316,000 after purchasing an additional 135 shares during the last quarter. Larson Financial Group LLC grew its position in DexCom by 40.5% during the fourth quarter. Larson Financial Group LLC now owns 475 shares of the medical device company’s stock worth $37,000 after buying an additional 137 shares in the last quarter. Level Four Advisory Services LLC boosted its holdings in DexCom by 1.1% during the fourth quarter. Level Four Advisory Services LLC now owns 13,196 shares of the medical device company’s stock valued at $1,026,000 after purchasing an additional 150 shares in the last quarter. Finally, Covestor Ltd raised its stake in shares of DexCom by 15.6% in the fourth quarter. Covestor Ltd now owns 1,109 shares of the medical device company’s stock valued at $86,000 after acquiring an additional 150 shares during the last quarter. Institutional investors and hedge funds 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.