DexCom (NASDAQ:DXCM) Price Target Raised to $94.00

DexCom (NASDAQ:DXCM) had its price target boosted by equities research analysts at Wells Fargo & Company from $90.00 to $94.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the medical device company’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 17.16% from the stock’s current price.

A number of other equities research analysts have also commented on the stock. Royal Bank of Canada dropped their price objective on shares of DexCom from $120.00 to $115.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Raymond James dropped their price target on DexCom from $115.00 to $99.00 and set a “strong-buy” rating on the stock in a research note on Friday, October 25th. StockNews.com downgraded DexCom from a “buy” rating to a “hold” rating in a report on Saturday, November 2nd. Leerink Partners cut their target price on DexCom from $90.00 to $87.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $90.00 price target on shares of DexCom in a research report on Monday, August 26th. Seven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, DexCom has an average rating of “Moderate Buy” and an average target price of $102.12.

DexCom Stock Up 1.0 %

NASDAQ DXCM traded up $0.82 during trading hours on Wednesday, reaching $80.23. 171,668 shares of the company’s stock were exchanged, compared to its average volume of 3,879,462. The company has a debt-to-equity ratio of 1.23, a quick ratio of 2.12 and a current ratio of 2.46. DexCom has a one year low of $62.34 and a one year high of $142.00. The company’s 50-day moving average is $72.77 and its two-hundred day moving average is $85.41. The company has a market capitalization of $31.34 billion, a price-to-earnings ratio of 48.04, a price-to-earnings-growth ratio of 2.38 and a beta of 1.12.

Insider Activity

In related news, EVP Sadie Stern sold 4,259 shares of the stock in a transaction 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 owns 71,192 shares in the company, valued at approximately $5,320,178.16. This represents a 5.64 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.30% of the stock is owned by insiders.

Hedge Funds Weigh In On DexCom

Several institutional investors and hedge funds have recently modified their holdings of the stock. Jennison Associates LLC lifted its holdings in DexCom by 1,683.2% during the 3rd quarter. Jennison Associates LLC now owns 6,932,899 shares of the medical device company’s stock worth $464,782,000 after purchasing an additional 6,544,102 shares during the last quarter. Westfield Capital Management Co. LP boosted 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 purchasing an additional 876,739 shares during the period. Two Sigma Advisers LP grew its position in shares of DexCom by 182.7% during the 3rd quarter. Two Sigma Advisers LP now owns 1,143,476 shares of the medical device company’s stock worth $76,659,000 after purchasing an additional 739,000 shares in the last quarter. Canada Pension Plan Investment Board grew its position in shares of DexCom by 189.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 665,646 shares of the medical device company’s stock worth $75,471,000 after purchasing an additional 435,401 shares in the last quarter. Finally, Intech Investment Management LLC raised its position in shares of DexCom by 2,083.0% in the third quarter. Intech Investment Management LLC now owns 387,330 shares of the medical device company’s stock valued at $25,967,000 after buying an additional 369,587 shares in 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.