Morgan Stanley Increases DexCom (NASDAQ:DXCM) Price Target to $82.00

DexCom (NASDAQ:DXCM) had its price target upped by equities researchers at Morgan Stanley from $75.00 to $82.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the medical device company’s stock. Morgan Stanley’s price target would indicate a potential downside of 7.87% from the company’s previous close.

Other research analysts have also recently issued research reports about the company. Citigroup increased their price objective on DexCom from $85.00 to $91.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Robert W. Baird raised DexCom from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $86.00 to $104.00 in a research note on Thursday, January 16th. Oppenheimer dropped their price objective on DexCom from $115.00 to $105.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. StockNews.com cut DexCom from a “buy” rating to a “hold” rating in a research note on Saturday, November 2nd. Finally, Royal Bank of Canada dropped their price objective on DexCom from $120.00 to $115.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, DexCom has an average rating of “Moderate Buy” and an average target price of $99.06.

DexCom Trading Up 5.8 %

Shares of DXCM stock opened at $89.00 on Friday. DexCom has a 1 year low of $62.34 and a 1 year high of $142.00. The company has a debt-to-equity ratio of 1.23, a current ratio of 2.46 and a quick ratio of 2.12. The stock’s 50 day simple moving average is $82.11 and its two-hundred day simple moving average is $75.19. The company has a market cap of $34.76 billion, a PE ratio of 52.53, a price-to-earnings-growth ratio of 2.26 and a beta of 1.14.

DexCom (NASDAQ:DXCM) last issued its quarterly earnings data on Thursday, February 13th. The medical device company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.05). DexCom had a net margin of 17.22% and a return on equity of 31.40%. Research analysts predict that DexCom will post 1.69 earnings per share for the current year.

Insider Activity

In other news, EVP Jereme M. Sylvain sold 2,090 shares of the stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $86.91, for a total transaction of $181,641.90. Following the completion of the sale, the executive vice president now owns 83,526 shares in the company, valued at approximately $7,259,244.66. This represents a 2.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Sadie Stern sold 4,259 shares of the stock in a transaction on Wednesday, November 20th. The shares were 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 of the company’s stock, valued at approximately $5,320,178.16. This represents a 5.64 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,342 shares of company stock worth $3,628,069. Insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On DexCom

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Forvis Mazars Wealth Advisors LLC raised its stake in DexCom by 0.7% in the 4th quarter. Forvis Mazars Wealth Advisors LLC now owns 17,481 shares of the medical device company’s stock worth $1,359,000 after acquiring an additional 118 shares during the last quarter. Principal Securities Inc. increased its stake in shares of DexCom by 3.4% in the 4th quarter. Principal Securities Inc. now owns 4,069 shares of the medical device company’s stock valued at $316,000 after purchasing an additional 135 shares in the last quarter. Larson Financial Group LLC increased its stake in shares of DexCom by 40.5% in the 4th quarter. Larson Financial Group LLC now owns 475 shares of the medical device company’s stock valued at $37,000 after purchasing an additional 137 shares in the last quarter. Level Four Advisory Services LLC increased its stake in shares of DexCom by 1.1% in the 4th quarter. Level Four Advisory Services LLC now owns 13,196 shares of the medical device company’s stock valued at $1,026,000 after purchasing an additional 150 shares in the last quarter. Finally, Covestor Ltd increased its stake in shares of DexCom by 15.6% in the 4th quarter. Covestor Ltd now owns 1,109 shares of the medical device company’s stock valued at $86,000 after purchasing an additional 150 shares in 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.