Brokerages Set DexCom, Inc. (NASDAQ:DXCM) Target Price at $98.00

Shares of DexCom, Inc. (NASDAQ:DXCM) have received a consensus rating of “Moderate Buy” from the eighteen ratings firms that are currently covering the company, Marketbeat reports. Six investment analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $98.00.

A number of brokerages have weighed in on DXCM. StockNews.com downgraded shares of DexCom from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd. Canaccord Genuity Group boosted their price target on DexCom from $89.00 to $99.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Leerink Partners lowered their target price on DexCom from $90.00 to $87.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Citigroup lifted their price target on DexCom from $85.00 to $91.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Finally, Wells Fargo & Company lifted their target price on shares of DexCom from $90.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th.

Insiders Place Their Bets

In other news, EVP Sadie Stern sold 4,259 shares of DexCom stock in a transaction on 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 of the company’s stock, valued at approximately $5,320,178.16. The trade was a 5.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.30% of the stock is owned by company insiders.

Institutional Trading of DexCom

Hedge funds and other institutional investors have recently bought and sold shares of the business. Jennison Associates LLC grew its position in shares of DexCom by 1,683.2% in the 3rd quarter. Jennison Associates LLC now owns 6,932,899 shares of the medical device company’s stock valued at $464,782,000 after buying an additional 6,544,102 shares during the last quarter. Westfield Capital Management Co. LP increased its position in DexCom by 44.6% during the third quarter. Westfield Capital Management Co. LP now owns 2,842,057 shares of the medical device company’s stock worth $190,532,000 after buying an additional 876,739 shares during the period. Two Sigma Advisers LP raised its position in DexCom by 182.7% in the 3rd quarter. Two Sigma Advisers LP now owns 1,143,476 shares of the medical device company’s stock valued at $76,659,000 after purchasing an additional 739,000 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in DexCom by 189.1% in the second quarter. Canada Pension Plan Investment Board now owns 665,646 shares of the medical device company’s stock valued at $75,471,000 after purchasing an additional 435,401 shares during the period. Finally, Intech Investment Management LLC raised its stake in DexCom by 2,083.0% during the 3rd quarter. Intech Investment Management LLC now owns 387,330 shares of the medical device company’s stock valued at $25,967,000 after acquiring an additional 369,587 shares during the last quarter. 97.75% of the stock is currently owned by institutional investors and hedge funds.

DexCom Price Performance

Shares of NASDAQ DXCM opened at $77.76 on Wednesday. The firm’s 50 day simple moving average is $76.93 and its 200-day simple moving average is $78.84. DexCom has a 12 month low of $62.34 and a 12 month high of $142.00. The stock has a market capitalization of $30.37 billion, a price-to-earnings ratio of 46.56, a PEG ratio of 2.36 and a beta of 1.12. 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 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.