Brokerages Set DexCom, Inc. (NASDAQ:DXCM) Price Target at $98.00

by · The Cerbat Gem

Shares of DexCom, Inc. (NASDAQ:DXCM – Get Free Report) have received an average rating of “Moderate Buy” from the eighteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $98.00.

DXCM has been the topic of several analyst reports. Canaccord Genuity Group raised their target price on DexCom from $89.00 to $99.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Wells Fargo & Company raised their price objective on shares of DexCom from $90.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Oppenheimer lowered their price target on shares of DexCom from $115.00 to $105.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Royal Bank of Canada cut their price objective 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. Finally, Piper Sandler reissued an “overweight” rating and set a $90.00 target price on shares of DexCom in a research note on Monday, August 26th.

View Our Latest Stock Report on DexCom

Insiders Place Their Bets

In other news, EVP Sadie Stern sold 4,259 shares of the firm’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 transaction, the executive vice president now owns 71,192 shares in the company, valued at $5,320,178.16. This trade represents a 5.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its stake in DexCom by 2.2% during the 3rd 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 last quarter. Jennison Associates LLC lifted its stake in shares of DexCom by 1,683.2% in the third quarter. Jennison Associates LLC now owns 6,932,899 shares of the medical device company’s stock worth $464,782,000 after buying an additional 6,544,102 shares in the last quarter. Legal & General Group Plc boosted its position in DexCom by 1.7% during the second quarter. Legal & General Group Plc now owns 2,993,049 shares of the medical device company’s stock worth $339,352,000 after acquiring an additional 49,076 shares during the last quarter. Groupama Asset Managment grew its stake 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 acquiring an additional 31,358 shares in the last quarter. Finally, Westfield Capital Management Co. LP raised its holdings in DexCom by 44.6% in the 3rd quarter. Westfield Capital Management Co. LP now owns 2,842,057 shares of the medical device company’s stock valued at $190,532,000 after acquiring an additional 876,739 shares during the last quarter. 97.75% of the stock is owned by institutional investors and hedge funds.

DexCom Price Performance

NASDAQ:DXCM opened at $80.04 on Friday. The firm’s fifty day moving average is $74.53 and its two-hundred day moving average is $83.10. The firm has a market cap of $31.26 billion, a price-to-earnings ratio of 47.93, a PEG ratio of 2.46 and a beta of 1.12. DexCom has a one year low of $62.34 and a one year high of $142.00. The company has a debt-to-equity ratio of 1.23, a quick ratio of 2.12 and a current ratio of 2.46.

About DexCom

(Get Free Report

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.

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