DexCom (NASDAQ:DXCM) Price Target Cut to $145.00 by Analysts at Royal Bank of Canada

DexCom (NASDAQ:DXCM) had its price objective reduced by research analysts at Royal Bank of Canada from $165.00 to $145.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has an “outperform” rating on the medical device company’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 121.98% from the stock’s previous close.

DXCM has been the subject of a number of other research reports. Morgan Stanley lowered their price target on DexCom from $132.00 to $120.00 and set an “equal weight” rating for the company in a research report on Monday, July 15th. Stifel Nicolaus lowered their price target on DexCom from $145.00 to $132.00 and set a “buy” rating for the company in a research report on Friday, July 12th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $145.00 price target on shares of DexCom in a research report on Tuesday. JPMorgan Chase & Co. lowered DexCom from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $145.00 to $75.00 in a research report on Friday. Finally, Redburn Atlantic initiated coverage on DexCom in a research report on Thursday, May 30th. They issued a “neutral” rating and a $130.00 target price for the company. Six equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $125.27.

DexCom Trading Down 39.4 %

DXCM stock traded down $42.53 during trading on Friday, hitting $65.32. 12,878,040 shares of the company traded hands, compared to its average volume of 2,960,815. The firm has a market capitalization of $25.98 billion, a PE ratio of 41.43, a P/E/G ratio of 2.74 and a beta of 1.16. DexCom has a 1 year low of $63.77 and a 1 year high of $142.00. The company has a 50-day moving average of $116.63 and a 200-day moving average of $124.29. The company has a debt-to-equity ratio of 1.08, a quick ratio of 2.53 and a current ratio of 2.90.

DexCom (NASDAQ:DXCM) last issued its earnings results on Thursday, July 25th. The medical device company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.04. The company had revenue of $1 billion during the quarter, compared to analysts’ expectations of $1.04 billion. DexCom had a return on equity of 31.01% and a net margin of 16.82%. DexCom’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.34 EPS. Analysts predict that DexCom will post 1.78 earnings per share for the current fiscal year.

Insider Transactions at DexCom

In related news, EVP Michael Jon Brown sold 659 shares of DexCom stock in a transaction on Friday, June 28th. The stock was sold at an average price of $114.29, for a total transaction of $75,317.11. Following the transaction, the executive vice president now directly owns 66,901 shares in the company, valued at $7,646,115.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Sadie Stern sold 427 shares of DexCom stock in a transaction on Monday, June 10th. The stock was sold at an average price of $115.05, for a total transaction of $49,126.35. Following the transaction, the executive vice president now directly owns 75,877 shares in the company, valued at $8,729,648.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael Jon Brown sold 659 shares of DexCom stock in a transaction on Friday, June 28th. The shares were sold at an average price of $114.29, for a total value of $75,317.11. Following the transaction, the executive vice president now owns 66,901 shares in the company, valued at $7,646,115.29. The disclosure for this sale can be found here. Insiders have sold a total of 4,112 shares of company stock worth $480,861 in the last ninety days. Insiders own 0.30% of the company’s stock.

Institutional Investors Weigh In On DexCom

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Team Hewins LLC raised its holdings in DexCom by 3.4% during the first quarter. Team Hewins LLC now owns 2,555 shares of the medical device company’s stock valued at $354,000 after acquiring an additional 83 shares during the period. Bleakley Financial Group LLC increased its holdings in shares of DexCom by 1.3% in the first quarter. Bleakley Financial Group LLC now owns 6,856 shares of the medical device company’s stock worth $951,000 after purchasing an additional 87 shares during the last quarter. Capital Insight Partners LLC increased its holdings in shares of DexCom by 2.5% in the second quarter. Capital Insight Partners LLC now owns 3,690 shares of the medical device company’s stock worth $418,000 after purchasing an additional 90 shares during the last quarter. D Orazio & Associates Inc. increased its holdings in shares of DexCom by 0.8% in the fourth quarter. D Orazio & Associates Inc. now owns 12,366 shares of the medical device company’s stock worth $1,534,000 after purchasing an additional 93 shares during the last quarter. Finally, Gulf International Bank UK Ltd increased its holdings in shares of DexCom by 0.3% in the first quarter. Gulf International Bank UK Ltd now owns 32,075 shares of the medical device company’s stock worth $4,448,000 after purchasing an additional 93 shares during the last quarter. 97.75% of the stock is owned by institutional investors.

DexCom Company Profile

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.