Stock analysts at The Goldman Sachs Group began coverage on shares of DexCom (NASDAQ:DXCM – Get Free Report) in a research note issued on Friday, Marketbeat.com reports. The firm set a “buy” rating and a $104.00 price target on the medical device company’s stock. The Goldman Sachs Group’s price target indicates a potential upside of 20.99% from the company’s previous close.
Several other research firms have also recently issued reports on DXCM. Canaccord Genuity Group upped their price target on DexCom from $103.00 to $106.00 and gave the company a “buy” rating in a report on Friday, May 2nd. Robert W. Baird dropped their price target on DexCom from $115.00 to $105.00 and set an “outperform” rating on the stock in a report on Friday, May 2nd. Piper Sandler dropped their price target on DexCom from $100.00 to $90.00 and set an “overweight” rating on the stock in a report on Friday, May 2nd. Wells Fargo & Company reaffirmed an “overweight” rating on shares of DexCom in a report on Saturday, March 8th. Finally, Redburn Atlantic raised DexCom from a “neutral” rating to a “buy” rating and upped their price target for the company from $85.00 to $115.00 in a report on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, DexCom presently has a consensus rating of “Moderate Buy” and an average price target of $98.32.
Check Out Our Latest Stock Analysis on DXCM
DexCom Price Performance
DexCom (NASDAQ:DXCM – Get Free Report) last announced its earnings results on Thursday, May 1st. The medical device company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.01). DexCom had a return on equity of 30.14% and a net margin of 14.29%. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the previous year, the firm earned $0.32 EPS. DexCom’s revenue for the quarter was up 12.5% on a year-over-year basis. Equities research analysts anticipate that DexCom will post 2.03 earnings per share for the current fiscal year.
Insider Transactions at DexCom
In other news, CEO Kevin R. Sayer sold 32,498 shares of the stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $70.38, for a total transaction of $2,287,209.24. Following the transaction, the chief executive officer now owns 372,029 shares in the company, valued at $26,183,401.02. This represents a 8.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Sadie Stern sold 6,184 shares of the firm’s stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $85.11, for a total transaction of $526,320.24. Following the transaction, the executive vice president now owns 109,621 shares in the company, valued at $9,329,843.31. This represents a 5.34% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 83,110 shares of company stock valued at $6,103,505. 0.32% of the stock is owned by insiders.
Institutional Investors Weigh In On DexCom
A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of DexCom by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 47,455,899 shares of the medical device company’s stock valued at $3,240,763,000 after acquiring an additional 925,882 shares during the last quarter. Jennison Associates LLC lifted its holdings in DexCom by 37.7% in the 1st quarter. Jennison Associates LLC now owns 10,523,246 shares of the medical device company’s stock worth $718,632,000 after purchasing an additional 2,879,489 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in DexCom by 22.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 10,123,525 shares of the medical device company’s stock worth $691,336,000 after purchasing an additional 1,868,241 shares during the last quarter. Geode Capital Management LLC lifted its holdings in DexCom by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 9,993,698 shares of the medical device company’s stock worth $775,256,000 after purchasing an additional 56,094 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in DexCom in the 1st quarter worth approximately $554,893,000. 97.75% of the stock is currently owned by institutional investors.
About DexCom
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.
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