Redburn Atlantic Upgrades DexCom (NASDAQ:DXCM) to “Buy”

DexCom (NASDAQ:DXCM) was upgraded by stock analysts at Redburn Atlantic from a “neutral” rating to a “buy” rating in a research note issued on Monday, MarketBeat.com reports. The brokerage currently has a $115.00 target price on the medical device company’s stock, up from their previous target price of $85.00. Redburn Atlantic’s price objective indicates a potential upside of 31.49% from the stock’s previous close.

DXCM has been the subject of a number of other research reports. Wells Fargo & Company boosted their target price on DexCom from $90.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. 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. Oppenheimer cut their price objective 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. Robert W. Baird upgraded shares of DexCom from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $86.00 to $104.00 in a research report on Thursday, January 16th. Finally, Royal Bank of Canada cut 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. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $98.41.

DexCom Trading Up 0.5 %

Shares of DXCM stock opened at $87.46 on Monday. The business has a 50-day moving average price of $80.95 and a two-hundred day moving average price of $75.77. DexCom has a 12-month low of $62.34 and a 12-month high of $142.00. 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 market cap of $34.16 billion, a P/E ratio of 52.37, a price-to-earnings-growth ratio of 2.23 and a beta of 1.14.

Insider Activity

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

Institutional Trading of DexCom

A number of hedge funds have recently modified their holdings of DXCM. Versant Capital Management Inc bought a new position in DexCom during the 4th quarter valued at approximately $25,000. Riverview Trust Co grew its stake in shares of DexCom by 100.4% in the third quarter. Riverview Trust Co now owns 463 shares of the medical device company’s stock worth $31,000 after acquiring an additional 232 shares during the last quarter. Heck Capital Advisors LLC bought a new position in shares of DexCom during the fourth quarter valued at $38,000. Midwest Capital Advisors LLC purchased a new position in shares of DexCom in the 4th quarter worth about $54,000. Finally, RPg Family Wealth Advisory LLC bought a new position in DexCom in the 3rd quarter worth about $57,000. 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.