DexCom (NASDAQ:DXCM) Upgraded by Redburn Atlantic to “Buy” Rating

Redburn Atlantic upgraded shares of DexCom (NASDAQ:DXCM) from a neutral rating to a buy rating in a research report report published on Monday, Marketbeat Ratings reports. Redburn Atlantic currently has $115.00 price objective on the medical device company’s stock, up from their previous price objective of $85.00.

Several other research analysts have also recently weighed in on the stock. StockNews.com cut shares of DexCom from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd. Royal Bank of Canada decreased their price target on shares of DexCom from $120.00 to $115.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Citigroup raised their price objective on shares of DexCom from $85.00 to $91.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Leerink Partners lowered their price objective on shares of DexCom from $90.00 to $87.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Finally, Baird R W raised DexCom from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 16th. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $98.41.

DexCom Stock Performance

NASDAQ:DXCM opened at $87.05 on Monday. The stock has a market capitalization of $34.00 billion, a P/E ratio of 52.13, a price-to-earnings-growth ratio of 2.23 and a beta of 1.14. DexCom has a 1 year low of $62.34 and a 1 year high of $142.00. The firm has a 50 day moving average of $80.77 and a 200-day moving average of $75.94. The company has a current ratio of 2.46, a quick ratio of 2.12 and a debt-to-equity ratio of 1.23.

Insiders Place Their Bets

In other DexCom news, CEO Kevin R. Sayer sold 33,359 shares of the company’s stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $86.91, for a total transaction of $2,899,230.69. Following the transaction, the chief executive officer now owns 319,037 shares in the company, valued at approximately $27,727,505.67. This represents a 9.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Sadie Stern sold 4,259 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $74.73, for a total value of $318,275.07. Following the sale, the executive vice president now directly owns 71,192 shares of the company’s stock, valued at $5,320,178.16. This represents a 5.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 42,342 shares of company stock worth $3,628,069. 0.30% of the stock is currently owned by insiders.

Institutional Trading of DexCom

A number of large investors have recently bought and sold shares of DXCM. Geode Capital Management LLC increased its holdings in shares of DexCom by 2.2% in the third quarter. Geode Capital Management LLC now owns 9,937,604 shares of the medical device company’s stock worth $664,056,000 after purchasing an additional 214,136 shares during the period. Jennison Associates LLC lifted its position in DexCom by 10.3% in the fourth quarter. Jennison Associates LLC now owns 7,643,757 shares of the medical device company’s stock valued at $594,455,000 after purchasing an additional 710,858 shares during the last quarter. Groupama Asset Managment boosted its position in DexCom by 1.1% during the 3rd quarter. Groupama Asset Managment now owns 2,851,556 shares of the medical device company’s stock valued at $1,912,000 after buying an additional 31,358 shares during the period. Westfield Capital Management Co. LP grew its stake in shares of DexCom by 44.6% in the third quarter. Westfield Capital Management Co. LP now owns 2,842,057 shares of the medical device company’s stock worth $190,532,000 after purchasing an additional 876,739 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in DexCom by 11.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,734,155 shares of the medical device company’s stock worth $183,298,000 after acquiring an additional 288,381 shares during the period. 97.75% of the stock is owned by hedge funds and other institutional investors.

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.