Canaccord Genuity Group Issues Positive Forecast for DexCom (NASDAQ:DXCM) Stock Price

DexCom (NASDAQ:DXCM) had its target price boosted by Canaccord Genuity Group from $99.00 to $103.00 in a research note issued to investors on Friday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the medical device company’s stock.

A number of other equities analysts have also issued reports on the stock. Citigroup raised their target price on shares of DexCom from $85.00 to $91.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Leerink Partners lowered their price objective on shares of DexCom from $90.00 to $87.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. StockNews.com cut shares of DexCom from a “buy” rating to a “hold” rating in a report on Saturday, November 2nd. JPMorgan Chase & Co. raised their price target on DexCom from $75.00 to $85.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Finally, Sanford C. Bernstein upped their price objective on DexCom from $82.00 to $86.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $99.06.

DexCom Price Performance

Shares of DXCM opened at $89.07 on Friday. The company has a debt-to-equity ratio of 1.23, a current ratio of 2.46 and a quick ratio of 2.12. DexCom has a 1-year low of $62.34 and a 1-year high of $142.00. The stock has a market cap of $34.79 billion, a PE ratio of 53.34, a price-to-earnings-growth ratio of 2.26 and a beta of 1.14. The firm has a fifty day moving average price of $82.21 and a 200 day moving average price of $75.25.

DexCom (NASDAQ:DXCM) last posted its earnings results on Thursday, February 13th. The medical device company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.05). DexCom had a net margin of 17.22% and a return on equity of 31.40%. As a group, sell-side analysts anticipate that DexCom will post 1.69 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Kevin R. Sayer sold 33,359 shares of the stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $86.91, for a total value of $2,899,230.69. Following the sale, the chief executive officer now directly owns 319,037 shares of the company’s stock, valued at approximately $27,727,505.67. This represents a 9.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Sadie Stern sold 4,259 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $74.73, for a total transaction of $318,275.07. Following the completion of the sale, the executive vice president now directly owns 71,192 shares in the company, valued at $5,320,178.16. This trade represents a 5.64 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 42,342 shares of company stock worth $3,628,069. 0.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On DexCom

A number of institutional investors and hedge funds have recently bought and sold shares of DXCM. Versant Capital Management Inc purchased a new stake in shares of DexCom in the fourth quarter valued at $25,000. Private Trust Co. NA raised its stake in DexCom by 266.3% in the 4th quarter. Private Trust Co. NA now owns 337 shares of the medical device company’s stock valued at $26,000 after purchasing an additional 245 shares during the last quarter. Optiver Holding B.V. purchased a new position in DexCom in the 4th quarter valued at about $33,000. TD Private Client Wealth LLC lifted its holdings in DexCom by 62.8% in the 4th quarter. TD Private Client Wealth LLC now owns 433 shares of the medical device company’s stock valued at $34,000 after purchasing an additional 167 shares in the last quarter. Finally, Riverview Trust Co boosted its stake in shares of DexCom by 100.4% during the 3rd quarter. Riverview Trust Co now owns 463 shares of the medical device company’s stock worth $31,000 after purchasing an additional 232 shares during the last quarter. Hedge funds and other institutional investors own 97.75% of the company’s stock.

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.