Baird R W Upgrades DexCom (NASDAQ:DXCM) to “Strong-Buy”

DexCom (NASDAQ:DXCM) was upgraded by equities research analysts at Baird R W from a “hold” rating to a “strong-buy” rating in a research note issued on Thursday,Zacks.com reports.

A number of other equities research analysts have also recently issued reports on the stock. Leerink Partners lowered their target price 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. JPMorgan Chase & Co. boosted their price objective on DexCom from $75.00 to $85.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. StockNews.com downgraded DexCom from a “buy” rating to a “hold” rating in a research note on Saturday, November 2nd. Royal Bank of Canada decreased their price target on DexCom from $120.00 to $115.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Finally, Sanford C. Bernstein increased their price target on shares of DexCom from $82.00 to $86.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $99.29.

DexCom Price Performance

DXCM opened at $84.38 on Thursday. The company has a market capitalization of $32.96 billion, a price-to-earnings ratio of 50.53, a PEG ratio of 2.00 and a beta of 1.12. The company has a quick ratio of 2.12, a current ratio of 2.46 and a debt-to-equity ratio of 1.23. The firm has a 50-day moving average price of $78.17 and a 200-day moving average price of $78.22. DexCom has a twelve month low of $62.34 and a twelve month high of $142.00.

Insider Buying and Selling

In other DexCom news, EVP Sadie Stern sold 4,259 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $74.73, for a total value of $318,275.07. Following the completion of the sale, the executive vice president now owns 71,192 shares of the company’s stock, valued at $5,320,178.16. This represents a 5.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On DexCom

Institutional investors and hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC boosted its position in DexCom by 2.2% during the third quarter. Geode Capital Management LLC now owns 9,937,604 shares of the medical device company’s stock valued at $664,056,000 after buying an additional 214,136 shares during the period. Jennison Associates LLC lifted its stake in shares of DexCom by 1,683.2% in the 3rd quarter. Jennison Associates LLC now owns 6,932,899 shares of the medical device company’s stock valued at $464,782,000 after acquiring an additional 6,544,102 shares during the last quarter. Legal & General Group Plc boosted its holdings in DexCom by 1.7% during the 2nd quarter. Legal & General Group Plc now owns 2,993,049 shares of the medical device company’s stock valued at $339,352,000 after acquiring an additional 49,076 shares during the period. Groupama Asset Managment grew its position in DexCom by 1.1% during the 3rd quarter. Groupama Asset Managment now owns 2,851,556 shares of the medical device company’s stock worth $1,912,000 after acquiring an additional 31,358 shares during the last quarter. Finally, Westfield Capital Management Co. LP increased its stake in DexCom by 44.6% in the 3rd quarter. Westfield Capital Management Co. LP now owns 2,842,057 shares of the medical device company’s stock worth $190,532,000 after purchasing an additional 876,739 shares during the period. 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.