DexCom (NASDAQ:DXCM) Price Target Raised to $96.00

DexCom (NASDAQ:DXCM) had its price target upped by Argus from $86.00 to $96.00 in a report issued on Tuesday, Marketbeat.com reports. Argus currently has a buy rating on the medical device company’s stock.

A number of other research analysts also recently commented on DXCM. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $94.00 target price on shares of DexCom in a research report on Friday, July 31st. Royal Bank Of Canada boosted their price target on shares of DexCom from $85.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Canaccord Genuity Group set a $90.00 price objective on shares of DexCom and gave the company a “buy” rating in a research note on Monday. TD Cowen reissued a “buy” rating on shares of DexCom in a report on Friday, July 31st. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of DexCom in a research report on Tuesday, June 23rd. They set a “buy” rating and a $86.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $88.71.

DexCom Trading Up 0.4%

DXCM opened at $83.02 on Tuesday. The business’s 50-day simple moving average is $74.20 and its 200-day simple moving average is $69.62. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.43 and a current ratio of 1.73. The company has a market cap of $31.33 billion, a P/E ratio of 32.81, a PEG ratio of 1.38 and a beta of 1.41. DexCom has a one year low of $54.11 and a one year high of $87.85.

DexCom (NASDAQ:DXCM) last announced its quarterly earnings results on Thursday, July 30th. The medical device company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.61 by $0.09. The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.29 billion. DexCom had a net margin of 20.12% and a return on equity of 35.94%. The firm’s revenue was up 13.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.48 earnings per share. As a group, equities research analysts expect that DexCom will post 2.65 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Kevin R. Sayer sold 26,756 shares of DexCom stock in a transaction on Monday, July 20th. The shares were sold at an average price of $76.32, for a total value of $2,042,017.92. Following the transaction, the insider directly owned 328,970 shares in the company, valued at $25,106,990.40. This trade represents a 7.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Jon Brown sold 1,700 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $75.55, for a total transaction of $128,435.00. Following the completion of the transaction, the executive vice president directly owned 106,353 shares in the company, valued at $8,034,969.15. This represents a 1.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 102,506 shares of company stock valued at $7,535,898 in the last ninety days. Company insiders own 0.28% of the company’s stock.

Institutional Trading of DexCom

Several hedge funds have recently modified their holdings of the business. BOKF NA raised its stake in shares of DexCom by 175.7% during the 4th quarter. BOKF NA now owns 35,314 shares of the medical device company’s stock worth $2,344,000 after buying an additional 22,505 shares during the last quarter. Stephens Investment Management Group LLC grew its position in shares of DexCom by 21.1% in the fourth quarter. Stephens Investment Management Group LLC now owns 1,042,801 shares of the medical device company’s stock valued at $69,211,000 after purchasing an additional 181,701 shares during the last quarter. Eurizon Capital SGR S.p.A. acquired a new stake in shares of DexCom in the fourth quarter valued at approximately $3,231,000. Goodman Advisory Group LLC purchased a new position in shares of DexCom during the 4th quarter worth approximately $1,293,000. Finally, Employees Retirement System of Texas purchased a new position in shares of DexCom during the 4th quarter worth approximately $37,871,000. 97.75% of the stock is owned by institutional investors and hedge funds.

About DexCom

DexCom, Inc is a medical device company that develops, manufactures and distributes continuous glucose monitoring (CGM) systems for people with diabetes. Its products are designed to provide near real-time glucose readings, trend information and alerts to help patients and clinicians manage insulin dosing and reduce hypoglycemia and hyperglycemia. The company’s offerings combine wearable glucose sensors, wireless transmitters and software applications that deliver data to smartphones, dedicated receivers and cloud-based platforms for remote monitoring.

Founded in 1999 and headquartered in San Diego, California, DexCom has focused its business on advancing CGM technology and expanding clinical use beyond traditional insulin-dependent populations.