DexCom (NASDAQ:DXCM) PT Lowered to $120.00 at Royal Bank of Canada

DexCom (NASDAQ:DXCM) had its price target lowered by equities researchers at Royal Bank of Canada from $130.00 to $120.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the medical device company’s stock. Royal Bank of Canada’s target price indicates a potential upside of 73.69% from the company’s previous close.

Several other brokerages have also weighed in on DXCM. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $145.00 target price on shares of DexCom in a research report on Tuesday, July 23rd. Piper Sandler reaffirmed an “overweight” rating and issued a $90.00 price target on shares of DexCom in a report on Monday, August 26th. Stifel Nicolaus upped their price objective on DexCom from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Morgan Stanley lowered their target price on DexCom from $120.00 to $75.00 and set an “equal weight” rating for the company in a research note on Friday, July 26th. Finally, StockNews.com cut DexCom from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $110.69.

DexCom Price Performance

Shares of DXCM traded up $0.47 during mid-day trading on Tuesday, reaching $69.09. 2,784,708 shares of the company’s stock were exchanged, compared to its average volume of 3,813,245. DexCom has a 52-week low of $62.34 and a 52-week high of $142.00. The company has a market cap of $27.48 billion, a price-to-earnings ratio of 44.61, a PEG ratio of 2.16 and a beta of 1.18. The company has a 50-day simple moving average of $70.19 and a two-hundred day simple moving average of $104.75. 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 (NASDAQ:DXCM) last announced its quarterly earnings results on Thursday, July 25th. The medical device company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.39 by $0.04. The company had revenue of $1 billion during the quarter, compared to analyst estimates of $1.04 billion. DexCom had a return on equity of 31.41% and a net margin of 16.95%. The firm’s revenue was up 15.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.34 earnings per share. On average, sell-side analysts predict that DexCom will post 1.69 EPS for the current fiscal year.

Insider Transactions at DexCom

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

Hedge Funds Weigh In On DexCom

Several hedge funds have recently modified their holdings of the stock. Crewe Advisors LLC acquired a new stake in shares of DexCom in the first quarter valued at about $29,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in DexCom during the second quarter worth about $25,000. Riverview Trust Co purchased a new position in DexCom during the 1st quarter valued at about $32,000. Sachetta LLC grew its stake in DexCom by 255.2% during the 2nd quarter. Sachetta LLC now owns 238 shares of the medical device company’s stock worth $27,000 after purchasing an additional 171 shares in the last quarter. Finally, Sound Income Strategies LLC boosted its position in shares of DexCom by 41.7% during the 1st quarter. Sound Income Strategies LLC now owns 340 shares of the medical device company’s stock worth $47,000 after acquiring an additional 100 shares in 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.