DexCom (NASDAQ:DXCM) Price Target Cut to $90.00

DexCom (NASDAQ:DXCM) had its target price cut by Stifel Nicolaus from $132.00 to $90.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have a buy rating on the medical device company’s stock.

A number of other equities research analysts have also recently commented on the stock. StockNews.com cut shares of DexCom from a buy rating to a hold rating in a report on Monday, June 10th. JPMorgan Chase & Co. cut shares of DexCom from an overweight rating to a neutral rating and lowered their price target for the stock from $145.00 to $75.00 in a report on Friday. Redburn Atlantic assumed coverage on shares of DexCom in a report on Thursday, May 30th. They issued a neutral rating and a $130.00 price target on the stock. Citigroup lifted their price target on shares of DexCom from $148.00 to $161.00 and gave the stock a buy rating in a report on Wednesday, April 3rd. Finally, UBS Group lifted their price target on shares of DexCom from $153.00 to $163.00 and gave the stock a buy rating in a report on Wednesday, April 10th. Seven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, DexCom currently has an average rating of Moderate Buy and an average price target of $111.50.

DexCom Price Performance

Shares of NASDAQ DXCM opened at $67.48 on Friday. DexCom has a twelve month low of $62.34 and a twelve month high of $142.00. The stock’s 50 day moving average price is $114.02 and its 200-day moving average price is $123.33. The company has a market capitalization of $27.04 billion, a PE ratio of 43.54, a PEG ratio of 1.58 and a beta of 1.16. 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 earnings results on Thursday, July 25th. The medical device company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.04. DexCom had a return on equity of 31.41% and a net margin of 16.95%. The firm had revenue of $1 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the previous year, the business earned $0.34 EPS. The company’s revenue was up 15.3% compared to the same quarter last year. On average, equities analysts anticipate that DexCom will post 1.76 EPS for the current year.

Insider Transactions at DexCom

In other news, EVP Michael Jon Brown sold 659 shares of the company’s 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 of the company’s stock, valued at $7,646,115.29. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, EVP Sadie Stern sold 427 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $115.05, for a total value of $49,126.35. Following the completion of the transaction, the executive vice president now directly owns 75,877 shares in the company, valued at $8,729,648.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michael Jon Brown sold 659 shares of the company’s 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 completion of the transaction, the executive vice president now owns 66,901 shares of the company’s stock, valued at $7,646,115.29. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,483 shares of company stock valued at $401,450. 0.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Taylor Frigon Capital Management LLC purchased a new position in DexCom in the second quarter worth $2,435,000. Crossmark Global Holdings Inc. grew its position in DexCom by 0.9% in the second quarter. Crossmark Global Holdings Inc. now owns 18,596 shares of the medical device company’s stock worth $2,108,000 after acquiring an additional 172 shares in the last quarter. Peregrine Capital Management LLC grew its position in DexCom by 2.1% in the second quarter. Peregrine Capital Management LLC now owns 688,502 shares of the medical device company’s stock worth $78,062,000 after acquiring an additional 14,031 shares in the last quarter. Nations Financial Group Inc. IA ADV purchased a new position in DexCom in the second quarter worth $575,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in DexCom in the second quarter worth $25,000. 97.75% of the stock is currently owned by hedge funds and other 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.