DexCom (NASDAQ:DXCM) Price Target Cut to $80.00 by Analysts at Wells Fargo & Company

DexCom (NASDAQ:DXCM) had its price target lowered by Wells Fargo & Company from $145.00 to $80.00 in a research note published on Friday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the medical device company’s stock.

A number of other research firms also recently weighed in on DXCM. StockNews.com downgraded shares of DexCom from a buy rating to a hold rating in a research report on Monday, June 10th. Raymond James raised their price target on shares of DexCom from $151.00 to $160.00 and gave the stock a strong-buy rating in a research report on Friday, April 26th. Morgan Stanley decreased their price target on shares of DexCom from $132.00 to $120.00 and set an equal weight rating for the company in a research report on Monday, July 15th. Robert W. Baird downgraded shares of DexCom from an outperform rating to a neutral rating and decreased their price target for the stock from $161.00 to $80.00 in a research report on Friday. Finally, Citigroup raised their price target on shares of DexCom from $148.00 to $161.00 and gave the stock a buy rating in a research report on Wednesday, April 3rd. Seven investment 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’s stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $111.50.

DexCom Stock Up 5.4 %

Shares of NASDAQ:DXCM opened at $67.48 on Friday. The company has a quick ratio of 2.48, a current ratio of 2.82 and a debt-to-equity ratio of 1.00. DexCom has a 52-week low of $62.34 and a 52-week high of $142.00. The company has a 50 day moving average of $114.02 and a two-hundred day moving average of $123.33. The company has a market capitalization of $27.04 billion, a price-to-earnings ratio of 43.54, a price-to-earnings-growth ratio of 1.58 and a beta of 1.16.

DexCom (NASDAQ:DXCM) last issued its quarterly earnings data on Thursday, July 25th. The medical device company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.04. DexCom had a net margin of 16.95% and a return on equity of 31.41%. The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter last year, the company earned $0.34 earnings per share. DexCom’s revenue for the quarter was up 15.3% on a year-over-year basis. As a group, analysts forecast that DexCom will post 1.76 earnings per share for the current fiscal year.

Insider Activity at DexCom

In related news, EVP Michael Jon Brown sold 652 shares of the business’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $119.24, for a total transaction of $77,744.48. Following the completion of the transaction, the executive vice president now owns 67,560 shares in the company, valued at approximately $8,055,854.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Bridgette P. Heller sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $113.55, for a total transaction of $113,550.00. Following the completion of the transaction, the director now owns 25,349 shares in the company, valued at approximately $2,878,378.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael Jon Brown sold 652 shares of DexCom stock in a transaction on Friday, May 31st. The shares were sold at an average price of $119.24, for a total value of $77,744.48. Following the sale, the executive vice president now directly owns 67,560 shares in the company, valued at approximately $8,055,854.40. The disclosure for this sale can be found here. Insiders sold 3,483 shares of company stock worth $401,450 in the last 90 days. 0.30% of the stock is currently owned by company insiders.

Institutional Trading of DexCom

Hedge funds have recently added to or reduced their stakes in the business. Bank of New Hampshire bought a new stake in DexCom during the 1st quarter valued at $1,508,000. abrdn plc raised its stake in DexCom by 21.1% during the 4th quarter. abrdn plc now owns 380,535 shares of the medical device company’s stock valued at $47,221,000 after acquiring an additional 66,348 shares in the last quarter. Cerity Partners LLC raised its stake in DexCom by 5,791.0% during the 4th quarter. Cerity Partners LLC now owns 463,973 shares of the medical device company’s stock valued at $57,574,000 after acquiring an additional 456,097 shares in the last quarter. Eagle Asset Management Inc. raised its stake in DexCom by 21.5% during the 4th quarter. Eagle Asset Management Inc. now owns 1,756,216 shares of the medical device company’s stock valued at $217,929,000 after acquiring an additional 310,728 shares in the last quarter. Finally, Alberta Investment Management Corp raised its stake in DexCom by 27.0% during the 4th quarter. Alberta Investment Management Corp now owns 323,335 shares of the medical device company’s stock valued at $40,123,000 after acquiring an additional 68,723 shares in the last quarter. 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.