DexCom (DXCM) Price Target Increased to $173.00 by Analysts at Piper Jaffray Companies
DexCom (NASDAQ:DXCM) had its target price increased by Piper Jaffray Companies to $173.00 in a research report released on Wednesday, The Fly reports. The firm currently has an overweight rating on the medical device company’s stock. Piper Jaffray Companies also issued estimates for DexCom’s Q3 2019 earnings at $0.05 EPS, Q4 2019 earnings at $0.63 EPS, Q2 2020 earnings at $0.08 EPS, Q3 2020 earnings at $0.17 EPS and Q4 2020 earnings at $0.69 EPS.
Other research analysts have also recently issued research reports about the company. Cowen increased their price target on DexCom from $150.00 to $175.00 and gave the stock an outperform rating in a research note on Friday, February 22nd. Canaccord Genuity increased their price target on DexCom from $140.00 to $160.00 and gave the stock a buy rating in a research note on Friday, February 22nd. Morgan Stanley increased their price target on DexCom from $135.00 to $160.00 and gave the stock an equal weight rating in a research note on Monday, February 25th. UBS Group increased their price target on DexCom from $135.00 to $140.00 and gave the stock a neutral rating in a research note on Tuesday, January 8th. Finally, BidaskClub cut DexCom from a buy rating to a hold rating in a research note on Tuesday, March 26th. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $152.31.
DXCM traded up $2.58 during trading on Wednesday, reaching $122.95. 1,513,890 shares of the company were exchanged, compared to its average volume of 1,372,661. The company has a market cap of $11.19 billion, a P/E ratio of 409.83 and a beta of 0.73. The company has a debt-to-equity ratio of 1.52, a current ratio of 7.64 and a quick ratio of 7.32. DexCom has a 52 week low of $80.09 and a 52 week high of $156.16.
In other news, SVP Patrick Michael Murphy sold 400 shares of the company’s stock in a transaction on Friday, February 8th. The stock was sold at an average price of $142.76, for a total value of $57,104.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark G. Foletta sold 1,000 shares of the company’s stock in a transaction on Friday, February 15th. The shares were sold at an average price of $148.72, for a total value of $148,720.00. Following the completion of the sale, the director now owns 4,052 shares of the company’s stock, valued at approximately $602,613.44. The disclosure for this sale can be found here. In the last 90 days, insiders sold 96,530 shares of company stock valued at $13,467,422. Insiders own 1.80% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Enlightenment Research LLC acquired a new stake in shares of DexCom in the first quarter valued at $333,000. Nissay Asset Management Corp Japan ADV lifted its holdings in shares of DexCom by 5.7% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 7,798 shares of the medical device company’s stock valued at $929,000 after buying an additional 421 shares during the period. California Public Employees Retirement System lifted its holdings in shares of DexCom by 2.5% in the first quarter. California Public Employees Retirement System now owns 158,991 shares of the medical device company’s stock valued at $18,936,000 after buying an additional 3,825 shares during the period. Signition LP acquired a new stake in shares of DexCom in the first quarter valued at $244,000. Finally, Pearl River Capital LLC acquired a new stake in shares of DexCom in the first quarter valued at $152,000. Institutional investors and hedge funds own 96.88% of the company’s stock.
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 offers its systems for ambulatory use by people with diabetes; and for use by healthcare providers. Its products include DexCom G6, a CGM system for diabetes management; DexCom G5 mobile CGM system to communicate directly to patient's mobile device; DexCom G4 PLATINUM system for continuous use by adults with diabetes; and DexCom Share, a remote monitoring system.
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