Oppenheimer Trims DexCom (NASDAQ:DXCM) Target Price to $105.00

DexCom (NASDAQ:DXCM) had its price target decreased by Oppenheimer from $115.00 to $105.00 in a report published on Friday, Benzinga reports. Oppenheimer currently has an outperform rating on the medical device company’s stock.

DXCM has been the subject of several other reports. 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 report on Monday, July 29th. 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 report on Tuesday, October 8th. 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 report on Friday. Wells Fargo & Company raised their price target on shares of DexCom from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Friday. Finally, Leerink Partners cut their price target on shares of DexCom from $90.00 to $87.00 and set an “outperform” rating for the company in a report on Friday. Six research 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’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $104.59.

DexCom Stock Down 1.9 %

DXCM opened at $73.44 on Friday. The company has a 50 day moving average of $70.11 and a 200 day moving average of $97.95. The company 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. DexCom has a 12 month low of $62.34 and a 12 month high of $142.00. The company has a current ratio of 2.82, a quick ratio of 2.48 and a debt-to-equity ratio of 1.00.

DexCom (NASDAQ:DXCM) last released its quarterly earnings data 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 the consensus estimate of $1.04 billion. DexCom had a net margin of 16.95% and a return on equity of 31.41%. DexCom’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same period last year, the firm earned $0.34 EPS. On average, sell-side analysts expect that DexCom will post 1.69 EPS for the current year.

Insider Activity

In other news, EVP Michael Jon Brown sold 652 shares of DexCom stock in a transaction dated 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, EVP Michael Jon Brown sold 652 shares of the business’s stock in a transaction dated 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 $4,607,617.95. The trade was a 0.00 % decrease in their ownership of the stock. 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 business’s stock in a transaction dated 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 $18,318,872.25. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,824 shares of company stock valued at $126,390. Corporate insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. New York State Teachers Retirement System lifted its stake in shares of DexCom by 1.6% in the third quarter. New York State Teachers Retirement System now owns 366,308 shares of the medical device company’s stock worth $24,557,000 after buying an additional 5,804 shares in the last quarter. Avitas Wealth Management LLC lifted its stake in shares of DexCom by 20.2% in the third quarter. Avitas Wealth Management LLC now owns 6,475 shares of the medical device company’s stock worth $434,000 after buying an additional 1,086 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in shares of DexCom by 103.0% in the third quarter. China Universal Asset Management Co. Ltd. now owns 5,306 shares of the medical device company’s stock worth $356,000 after buying an additional 2,692 shares in the last quarter. abrdn plc lifted its stake in shares of DexCom by 28.4% in the third quarter. abrdn plc now owns 384,646 shares of the medical device company’s stock worth $25,842,000 after buying an additional 85,174 shares in the last quarter. Finally, Semanteon Capital Management LP bought a new position in shares of DexCom in the third quarter worth approximately $922,000. Institutional investors 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.