Royal Bank of Canada Cuts DexCom (NASDAQ:DXCM) Price Target to $145.00

DexCom (NASDAQ:DXCM) had its target price reduced by Royal Bank of Canada from $165.00 to $145.00 in a research note published on Friday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the medical device company’s stock.

Several other analysts have also recently commented on the company. Raymond James lifted their price target on DexCom from $151.00 to $160.00 and gave the company a strong-buy rating in a report on Friday, April 26th. Canaccord Genuity Group restated a buy rating and issued a $145.00 price target on shares of DexCom in a report on Tuesday, July 23rd. JPMorgan Chase & Co. cut DexCom from an overweight rating to a neutral rating and lowered their price target for the company from $145.00 to $75.00 in a report on Friday. Stifel Nicolaus lowered their price target on DexCom from $145.00 to $132.00 and set a buy rating for the company in a report on Friday, July 12th. Finally, StockNews.com cut DexCom from a buy rating to a hold rating in a report on Monday, June 10th. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $111.50.

DexCom Trading Up 5.4 %

DexCom stock opened at $67.48 on Friday. The stock has a market cap of $27.04 billion, a PE ratio of 43.54, a P/E/G ratio of 1.58 and a beta of 1.16. The stock has a 50-day moving average price of $114.02 and a 200 day moving average price of $123.33. DexCom has a 52 week low of $62.34 and a 52 week 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 posted its quarterly earnings data on Thursday, July 25th. The medical device company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.04. The firm 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 firm’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. Equities research analysts predict that DexCom will post 1.76 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Michael Jon Brown sold 659 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $114.29, for a total transaction of $75,317.11. Following the transaction, the executive vice president now directly owns 66,901 shares of the company’s stock, valued at approximately $7,646,115.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Bridgette P. Heller sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was 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 of the company’s stock, valued at approximately $2,878,378.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael Jon Brown sold 659 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $114.29, for a total value of $75,317.11. Following the transaction, the executive vice president now directly owns 66,901 shares in the company, valued at $7,646,115.29. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,483 shares of company stock valued at $401,450. Corporate insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On DexCom

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of DexCom by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 44,603,745 shares of the medical device company’s stock valued at $6,186,539,000 after purchasing an additional 136,282 shares in the last quarter. Capital Research Global Investors raised its position in shares of DexCom by 21.4% in the 4th quarter. Capital Research Global Investors now owns 15,296,032 shares of the medical device company’s stock valued at $1,898,085,000 after purchasing an additional 2,695,296 shares in the last quarter. Sands Capital Management LLC raised its position in shares of DexCom by 10.2% in the 4th quarter. Sands Capital Management LLC now owns 15,058,806 shares of the medical device company’s stock valued at $1,868,647,000 after purchasing an additional 1,398,136 shares in the last quarter. Capital World Investors raised its position in shares of DexCom by 130.7% in the 4th quarter. Capital World Investors now owns 9,278,685 shares of the medical device company’s stock valued at $1,151,392,000 after purchasing an additional 5,256,092 shares in the last quarter. Finally, Artisan Partners Limited Partnership raised its position in shares of DexCom by 164.8% in the 4th quarter. Artisan Partners Limited Partnership now owns 5,900,308 shares of the medical device company’s stock valued at $732,169,000 after purchasing an additional 3,672,471 shares in the last quarter. 97.75% of the stock is 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.