DexCom (NASDAQ:DXCM) Stock Price Expected to Rise, Morgan Stanley Analyst Says

DexCom (NASDAQ:DXCM) had its price objective upped by equities research analysts at Morgan Stanley from $75.00 to $82.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the medical device company’s stock. Morgan Stanley’s price target points to a potential downside of 7.94% from the stock’s current price.

Other research analysts have also issued reports about the stock. Royal Bank of Canada reduced their price target on shares of DexCom from $120.00 to $115.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Baird R W raised shares of DexCom from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 16th. JPMorgan Chase & Co. increased their price target on shares of DexCom from $75.00 to $85.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Oppenheimer decreased their price target on shares of DexCom from $115.00 to $105.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Finally, Leerink Partners cut their price objective on shares of DexCom from $90.00 to $87.00 and set an “outperform” rating on the stock 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $99.06.

DexCom Stock Up 5.9 %

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

DexCom (NASDAQ:DXCM) last released its quarterly earnings data on Thursday, February 13th. The medical device company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.05). DexCom had a return on equity of 31.40% and a net margin of 17.22%. Research analysts forecast that DexCom will post 1.69 EPS for the current fiscal year.

Insider Transactions at DexCom

In other news, COO Jacob Steven Leach sold 2,634 shares of the firm’s stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $86.91, for a total transaction of $228,920.94. Following the transaction, the chief operating officer now directly owns 268,644 shares in the company, valued at approximately $23,347,850.04. This trade represents a 0.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 transaction of $181,641.90. Following the transaction, the executive vice president now owns 83,526 shares in the company, valued at approximately $7,259,244.66. This trade represents a 2.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 42,342 shares of company stock valued at $3,628,069. 0.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Versant Capital Management Inc acquired a new stake in DexCom during the 4th quarter worth approximately $25,000. Private Trust Co. NA lifted its stake in DexCom by 266.3% in the fourth quarter. Private Trust Co. NA now owns 337 shares of the medical device company’s stock valued at $26,000 after buying an additional 245 shares during the last quarter. Riverview Trust Co increased its holdings in shares of DexCom by 100.4% during the third quarter. Riverview Trust Co now owns 463 shares of the medical device company’s stock valued at $31,000 after purchasing an additional 232 shares during the period. Optiver Holding B.V. acquired a new position in DexCom during the fourth quarter worth about $33,000. Finally, TD Private Client Wealth LLC grew its holdings in DexCom by 62.8% during the fourth quarter. TD Private Client Wealth LLC now owns 433 shares of the medical device company’s stock worth $34,000 after acquiring an additional 167 shares during the period. 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.