DexCom (NASDAQ:DXCM) Price Target Cut to $115.00 by Analysts at Royal Bank of Canada

DexCom (NASDAQ:DXCM) had its target price dropped by investment analysts at Royal Bank of Canada from $120.00 to $115.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the medical device company’s stock. Royal Bank of Canada’s target price points to a potential upside of 56.59% from the company’s current price.

DXCM has been the topic of several other reports. Leerink Partners reduced their target price on DexCom from $90.00 to $87.00 and set an “outperform” rating on the stock in a report on Friday. Raymond James decreased their price target on DexCom from $115.00 to $99.00 and set a “strong-buy” rating for the company in a report on Friday. Baird R W downgraded DexCom from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 26th. Wells Fargo & Company lifted their target price on DexCom from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Stifel Nicolaus increased their price target on DexCom from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Six research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, DexCom has a consensus rating of “Moderate Buy” and an average price target of $104.59.

DexCom Stock Performance

Shares of DexCom stock opened at $73.44 on Friday. The company has a 50 day moving average of $70.11 and a 200-day moving average of $98.24. The company has a market cap of $29.43 billion, a PE ratio of 45.33, a price-to-earnings-growth ratio of 2.26 and a beta of 1.18. DexCom has a 1-year low of $62.34 and a 1-year high of $142.00. The company has a current ratio of 2.82, a quick ratio of 2.48 and a debt-to-equity ratio of 1.00.

DexCom (NASDAQ:DXCM) last announced its quarterly earnings results on Thursday, October 24th. The medical device company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.02. DexCom had a net margin of 16.95% and a return on equity of 31.41%. The company had revenue of $994.20 million during the quarter, compared to the consensus estimate of $991.55 million. As a group, equities research analysts forecast that DexCom will post 1.69 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Sadie Stern sold 426 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $69.15, for a total value of $29,457.90. Following the completion of the sale, the executive vice president now directly owns 75,451 shares in the company, valued at $5,217,436.65. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, EVP Michael Jon Brown sold 652 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $69.55, for a total value of $45,346.60. Following the completion of the transaction, the executive vice president now owns 66,249 shares of the company’s stock, valued at approximately $4,607,617.95. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Sadie Stern sold 426 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $69.15, for a total value of $29,457.90. Following the sale, the executive vice president now directly owns 75,451 shares in the company, valued at approximately $5,217,436.65. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,824 shares of company stock valued at $126,390 in the last ninety days. 0.30% of the stock is currently owned by company insiders.

Institutional Trading of DexCom

Several institutional investors have recently made changes to their positions in DXCM. Canada Pension Plan Investment Board boosted its stake in DexCom by 189.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 665,646 shares of the medical device company’s stock worth $75,471,000 after purchasing an additional 435,401 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of DexCom by 16.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,439,033 shares of the medical device company’s stock worth $276,538,000 after acquiring an additional 353,019 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in DexCom by 53.5% during the third quarter. Assenagon Asset Management S.A. now owns 989,740 shares of the medical device company’s stock valued at $66,352,000 after acquiring an additional 345,114 shares in the last quarter. Bellevue Group AG increased its holdings in DexCom by 33.5% in the 1st quarter. Bellevue Group AG now owns 1,221,197 shares of the medical device company’s stock valued at $169,380,000 after acquiring an additional 306,604 shares during the last quarter. Finally, Magnetar Financial LLC purchased a new stake in DexCom in the 2nd quarter worth $31,793,000. Hedge funds and other institutional investors own 97.75% of the company’s stock.

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.