DexCom, Inc. (DXCM) Rating Reiterated by Wedbush
DexCom, Inc. (NASDAQ:DXCM)‘s stock had its “outperform” rating reiterated by research analysts at Wedbush in a research note issued on Wednesday. They presently have a $85.00 price objective on the medical device company’s stock. Wedbush’s price objective would indicate a potential upside of 25.72% from the stock’s current price.
DXCM has been the topic of several other reports. Zacks Investment Research downgraded shares of DexCom from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 4th. Canaccord Genuity set a $70.00 price target on shares of DexCom and gave the stock a “buy” rating in a research note on Monday, November 14th. BMO Capital Markets initiated coverage on shares of DexCom in a research note on Friday, September 16th. They set an “outperform” rating and a $112.00 target price on the stock. Morgan Stanley downgraded shares of DexCom from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $87.00 to $66.00 in a research note on Tuesday, January 3rd. Finally, BTIG Research raised shares of DexCom from a “neutral” rating to a “buy” rating and set a $92.00 target price on the stock in a research note on Monday, October 31st. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $88.67.
Shares of DexCom (NASDAQ:DXCM) traded up 30.9197% during midday trading on Wednesday, hitting $88.5148. 5,836,577 shares of the stock traded hands. The company’s market cap is $7.48 billion. DexCom has a 52-week low of $47.92 and a 52-week high of $96.38. The stock has a 50-day moving average of $64.83 and a 200-day moving average of $79.31.
In related news, CFO Jess Roper sold 2,471 shares of DexCom stock in a transaction that occurred on Monday, October 24th. The shares were sold at an average price of $80.75, for a total value of $199,533.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jorge A. Valdes sold 10,900 shares of DexCom stock in a transaction that occurred on Monday, January 9th. The shares were sold at an average price of $63.02, for a total transaction of $686,918.00. Following the completion of the transaction, the insider now owns 79,334 shares of the company’s stock, valued at approximately $4,999,628.68. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Peregrine Capital Management LLC purchased a new position in shares of DexCom during the third quarter worth about $19,615,000. American Century Companies Inc. increased its position in shares of DexCom by 7.3% in the second quarter. American Century Companies Inc. now owns 806,639 shares of the medical device company’s stock worth $63,991,000 after buying an additional 54,684 shares in the last quarter. California State Teachers Retirement System increased its position in shares of DexCom by 0.9% in the third quarter. California State Teachers Retirement System now owns 175,345 shares of the medical device company’s stock worth $15,371,000 after buying an additional 1,500 shares in the last quarter. Macquarie Group Ltd. increased its position in shares of DexCom by 60.2% in the second quarter. Macquarie Group Ltd. now owns 221,340 shares of the medical device company’s stock worth $17,559,000 after buying an additional 83,185 shares in the last quarter. Finally, Calamos Advisors LLC purchased a new position in shares of DexCom during the second quarter worth about $22,764,000.
DexCom Company Profile
Dexcom, Inc (Dexcom) is a medical device company. The Company is focused on the design, development and commercialization of continuous glucose monitoring systems for ambulatory use by people with diabetes and for use by healthcare providers for the treatment of people with and without diabetes. Its products include SEVEN PLUS, DexCom G4, DexCom G4 PLATINUM, DexCom Share System and DexCom G5 Mobile.
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