DexCom (NASDAQ:DXCM) Price Target Lowered to $90.00 at Piper Sandler

DexCom (NASDAQ:DXCM) had its price target lowered by research analysts at Piper Sandler from $150.00 to $90.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the medical device company’s stock. Piper Sandler’s target price indicates a potential upside of 37.78% from the stock’s current price.

Other equities research analysts have also issued research reports about the stock. Canaccord Genuity Group reaffirmed a “buy” rating and set a $145.00 price target on shares of DexCom in a research report on Tuesday. Stifel Nicolaus cut their price objective on shares of DexCom from $145.00 to $132.00 and set a “buy” rating for the company in a report on Friday, July 12th. Morgan Stanley lowered their target price on DexCom from $132.00 to $120.00 and set an “equal weight” rating for the company in a research report on Monday, July 15th. Redburn Atlantic assumed coverage on DexCom in a research report on Thursday, May 30th. They set a “neutral” rating and a $130.00 target price for the company. Finally, Citigroup raised their price target on DexCom from $148.00 to $161.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $125.27.

DexCom Stock Down 39.4 %

DexCom stock traded down $42.53 during mid-day trading on Friday, reaching $65.32. The stock had a trading volume of 12,878,040 shares, compared to its average volume of 2,960,815. The company has a market capitalization of $25.98 billion, a price-to-earnings ratio of 41.43, a PEG ratio of 2.74 and a beta of 1.16. The company has a 50-day moving average price of $116.63 and a two-hundred day moving average price of $124.29. DexCom has a one year low of $63.77 and a one year high of $142.00. The company has a debt-to-equity ratio of 1.08, a current ratio of 2.90 and a quick ratio of 2.53.

DexCom (NASDAQ:DXCM) last posted its earnings results on Thursday, July 25th. The medical device company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.04. The business had revenue of $1 billion for the quarter, compared to analysts’ expectations of $1.04 billion. DexCom had a net margin of 16.82% and a return on equity of 31.01%. The business’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.34 EPS. On average, analysts expect that DexCom will post 1.78 EPS for the current fiscal year.

Insiders Place Their Bets

In other DexCom news, Director Bridgette P. Heller sold 1,000 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $113.55, for a total value of $113,550.00. Following the transaction, the director now directly owns 25,349 shares in the company, valued at approximately $2,878,378.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Bridgette P. Heller sold 1,000 shares of the stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $113.55, for a total transaction of $113,550.00. Following the transaction, the director now directly owns 25,349 shares in the company, valued at $2,878,378.95. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Michael Jon Brown sold 629 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $126.25, for a total transaction of $79,411.25. Following the completion of the sale, the executive vice president now owns 68,212 shares of the company’s stock, valued at $8,611,765. The disclosure for this sale can be found here. Insiders have sold 4,112 shares of company stock worth $480,861 in the last three months. Corporate insiders own 0.30% of the company’s stock.

Institutional Investors Weigh In On DexCom

Institutional investors have recently bought and sold shares of the company. Bank of New Hampshire acquired a new stake in DexCom in the first quarter valued at approximately $1,508,000. abrdn plc raised its holdings in shares of DexCom by 21.1% in the fourth quarter. abrdn plc now owns 380,535 shares of the medical device company’s stock worth $47,221,000 after buying an additional 66,348 shares during the last quarter. Cerity Partners LLC raised its holdings in shares of DexCom by 5,791.0% in the fourth quarter. Cerity Partners LLC now owns 463,973 shares of the medical device company’s stock worth $57,574,000 after buying an additional 456,097 shares during the last quarter. Eagle Asset Management Inc. raised its holdings in shares of DexCom by 21.5% in the fourth quarter. Eagle Asset Management Inc. now owns 1,756,216 shares of the medical device company’s stock worth $217,929,000 after buying an additional 310,728 shares during the last quarter. Finally, Alberta Investment Management Corp raised its holdings in shares of DexCom by 27.0% in the fourth quarter. Alberta Investment Management Corp now owns 323,335 shares of the medical device company’s stock worth $40,123,000 after buying an additional 68,723 shares during the last quarter. 97.75% of the stock is currently owned by institutional investors and hedge funds.

About DexCom

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.