DexCom (NASDAQ:DXCM) Given New $96.00 Price Target at BTIG Research

DexCom (NASDAQ:DXCM) had its target price raised by BTIG Research from $90.00 to $96.00 in a research report released on Monday,Benzinga reports. The brokerage currently has a buy rating on the medical device company’s stock.

A number of other analysts also recently commented on the stock. Piper Sandler reissued an “overweight” rating and set a $95.00 price objective (up from $88.00) on shares of DexCom in a report on Friday, July 31st. Truist Financial set a $102.00 target price on shares of DexCom and gave the company a “buy” rating in a report on Friday, September 18th. Stifel Nicolaus set a $95.00 target price on shares of DexCom and gave the company a “buy” rating in a report on Friday, July 31st. Mizuho lifted their price target on shares of DexCom from $90.00 to $95.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Finally, Robert W. Baird set a $105.00 price target on DexCom in a research note on Friday, July 31st. Three research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $92.22.

DexCom Price Performance

DexCom stock opened at $85.92 on Monday. The company has a market cap of $32.42 billion, a P/E ratio of 33.96, a price-to-earnings-growth ratio of 1.41 and a beta of 1.48. DexCom has a one year low of $54.11 and a one year high of $92.59. The business has a fifty day moving average of $87.51 and a two-hundred day moving average of $75.36. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.43 and a current ratio of 1.73.

DexCom (NASDAQ:DXCM) last posted its quarterly earnings results on Thursday, July 30th. The medical device company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.09. The business had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.29 billion. DexCom had a net margin of 20.12% and a return on equity of 35.94%. The business’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.48 EPS. As a group, analysts predict that DexCom will post 2.64 earnings per share for the current fiscal year.

Insider Activity

In other DexCom news, Director Nicholas Augustinos sold 6,539 shares of the company’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $84.04, for a total value of $549,537.56. Following the transaction, the director directly owned 29,293 shares in the company, valued at approximately $2,461,783.72. This represents a 18.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark G. Foletta sold 2,000 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $85.32, for a total transaction of $170,640.00. Following the sale, the director directly owned 48,852 shares in the company, valued at $4,168,052.64. This represents a 3.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 49,313 shares of company stock worth $3,945,875 in the last quarter. Corporate insiders own 0.28% of the company’s stock.

Hedge Funds Weigh In On DexCom

Institutional investors have recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in DexCom by 15.6% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,261,876 shares of the medical device company’s stock worth $758,487,000 after acquiring an additional 1,515,702 shares during the last quarter. Legal & General Group Plc purchased a new stake in DexCom in the 2nd quarter worth approximately $173,237,000. Janus Henderson Group PLC raised its holdings in DexCom by 32.3% in the 1st quarter. Janus Henderson Group PLC now owns 2,644,539 shares of the medical device company’s stock valued at $166,077,000 after acquiring an additional 645,534 shares during the last quarter. Deutsche Bank AG acquired a new position in DexCom in the 2nd quarter valued at $164,035,000. Finally, Arrowstreet Capital Limited Partnership raised its holdings in DexCom by 100.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,545,103 shares of the medical device company’s stock valued at $159,832,000 after acquiring an additional 1,275,142 shares during the last quarter. Institutional investors and hedge funds own 97.75% of the company’s stock.

DexCom Company Profile

DexCom, Inc (NASDAQ: DXCM) develops and commercializes continuous glucose monitoring (CGM) systems for people with diabetes. Its technology uses a small wearable sensor to measure glucose levels continuously and transmit readings to a compatible receiver, smartphone or other connected device, helping users monitor glucose trends and make more informed treatment and lifestyle decisions.

The company’s product portfolio includes the Dexcom G7 and Dexcom G6 real-time CGM systems, as well as related software and digital health tools such as Dexcom Clarity for glucose data analysis and reporting.