UBS Group Cuts DexCom (NASDAQ:DXCM) Price Target to $95.00

DexCom (NASDAQ:DXCM) had its target price lowered by UBS Group from $163.00 to $95.00 in a report released on Friday morning, Benzinga reports. UBS Group currently has a buy rating on the medical device company’s stock.

A number of other analysts have also recently weighed in on the stock. Stifel Nicolaus lowered their price target on shares of DexCom from $132.00 to $90.00 and set a buy rating on the stock in a report on Friday. Raymond James lifted their price target on shares of DexCom from $151.00 to $160.00 and gave the stock a strong-buy rating in a report on Friday, April 26th. Royal Bank of Canada reduced their price target on DexCom from $165.00 to $145.00 and set an outperform rating on the stock in a research report on Friday. Morgan Stanley lowered their price objective 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. Finally, Piper Sandler decreased their price target on DexCom from $150.00 to $90.00 and set an overweight rating for the company in a research note on Friday. Seven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $111.50.

DexCom Stock Performance

Shares of NASDAQ:DXCM opened at $67.48 on Friday. The company has a quick ratio of 2.48, a current ratio of 2.82 and a debt-to-equity ratio of 1.00. The company has a market capitalization of $27.04 billion, a price-to-earnings ratio of 43.54, a price-to-earnings-growth ratio of 1.58 and a beta of 1.16. The firm has a 50 day moving average of $114.02 and a 200 day moving average of $123.33. DexCom has a 52 week low of $62.34 and a 52 week high of $142.00.

DexCom (NASDAQ:DXCM) last released its quarterly earnings results 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. DexCom had a return on equity of 31.41% and a net margin of 16.95%. The firm had revenue of $1 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period in the previous year, the company posted $0.34 EPS. The business’s revenue for the quarter was up 15.3% compared to the same quarter last year. On average, sell-side analysts predict that DexCom will post 1.76 earnings per share for the current fiscal year.

Insider Buying and Selling at DexCom

In other news, EVP Sadie Stern sold 427 shares of the 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 sale, the executive vice president now 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 can be accessed through this hyperlink. In other news, EVP Sadie Stern sold 427 shares of the business’s stock in a transaction dated Monday, June 10th. The stock was 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 owns 75,877 shares of the company’s stock, valued at approximately $8,729,648.85. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Bridgette P. Heller sold 1,000 shares of the company’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $113.55, for a total value of $113,550.00. Following the completion of the sale, the director now owns 25,349 shares in the company, valued at approximately $2,878,378.95. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,483 shares of company stock worth $401,450. Company insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On DexCom

Several institutional investors have recently made changes to their positions in the company. Washington Trust Advisors Inc. grew its position in DexCom by 120.6% during the fourth quarter. Washington Trust Advisors Inc. now owns 353 shares of the medical device company’s stock valued at $44,000 after buying an additional 193 shares during the period. Inscription Capital LLC acquired a new position in DexCom in the 4th quarter worth about $248,000. Caprock Group LLC boosted its position in DexCom by 2.2% during the fourth quarter. Caprock Group LLC now owns 17,993 shares of the medical device company’s stock worth $2,233,000 after purchasing an additional 382 shares in the last quarter. Patriot Financial Group Insurance Agency LLC grew its holdings in DexCom by 4.6% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 10,917 shares of the medical device company’s stock valued at $1,355,000 after purchasing an additional 483 shares during the period. Finally, Quent Capital LLC increased its position in shares of DexCom by 11.6% in the fourth quarter. Quent Capital LLC now owns 2,545 shares of the medical device company’s stock valued at $316,000 after buying an additional 265 shares in the last quarter. 97.75% of the stock is owned by hedge funds and other institutional investors.

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.