DexCom (NASDAQ:DXCM) Price Target Lowered to $115.00 at Oppenheimer

DexCom (NASDAQ:DXCM) had its price objective reduced by Oppenheimer from $150.00 to $115.00 in a research note published on Friday morning, Benzinga reports. Oppenheimer currently has an outperform rating on the medical device company’s stock.

DXCM has been the subject of several other research reports. UBS Group boosted their target price on DexCom from $153.00 to $163.00 and gave the stock a buy rating in a research note on Wednesday, April 10th. StockNews.com cut DexCom from a buy rating to a hold rating in a research note on Monday, June 10th. Morgan Stanley decreased their target price on DexCom from $132.00 to $120.00 and set an equal weight rating for the company in a research note on Monday, July 15th. Citigroup boosted their target price on DexCom from $148.00 to $161.00 and gave the stock a buy rating in a research note on Wednesday, April 3rd. Finally, Stifel Nicolaus decreased their target price on DexCom from $132.00 to $90.00 and set a buy rating for the company in a research note on Friday. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $111.50.

DexCom Stock Performance

Shares of DXCM opened at $67.48 on Friday. The stock has a 50-day simple moving average of $114.02 and a 200-day simple moving average of $123.33. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.48 and a current ratio of 2.82. The stock has a market capitalization of $27.04 billion, a PE ratio of 43.54, a PEG ratio of 1.58 and a beta of 1.16. DexCom has a 1 year low of $62.34 and a 1 year high of $142.00.

DexCom (NASDAQ:DXCM) last announced its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $1.04 billion. DexCom had a return on equity of 31.41% and a net margin of 16.95%. The business’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.34 EPS. On average, analysts predict that DexCom will post 1.76 earnings per share for the current fiscal year.

Insider Activity at DexCom

In other news, EVP Sadie Stern sold 427 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $115.05, for a total transaction of $49,126.35. Following the completion of the transaction, the executive vice president now directly owns 75,877 shares of the company’s stock, valued at approximately $8,729,648.85. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other DexCom news, EVP Michael Jon Brown sold 652 shares of the company’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $119.24, for a total transaction of $77,744.48. Following the transaction, the executive vice president now directly owns 67,560 shares in the company, valued at $8,055,854.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Sadie Stern sold 427 shares of DexCom stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $115.05, for a total transaction of $49,126.35. Following the sale, the executive vice president now owns 75,877 shares of the company’s stock, valued at $8,729,648.85. The disclosure for this sale can be found here. Insiders sold a total of 3,483 shares of company stock worth $401,450 over the last 90 days. Company insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On DexCom

Several hedge funds have recently bought and sold shares of the company. Taylor Frigon Capital Management LLC purchased a new position in shares of DexCom in the second quarter valued at $2,435,000. Crossmark Global Holdings Inc. increased its holdings in DexCom by 0.9% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 18,596 shares of the medical device company’s stock valued at $2,108,000 after acquiring an additional 172 shares in the last quarter. Peregrine Capital Management LLC raised its position in DexCom by 2.1% during the second quarter. Peregrine Capital Management LLC now owns 688,502 shares of the medical device company’s stock worth $78,062,000 after acquiring an additional 14,031 shares during the last quarter. Nations Financial Group Inc. IA ADV acquired a new position in DexCom during the second quarter worth about $575,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of DexCom in the second quarter valued at about $25,000. 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.