Brokerages Set DexCom, Inc. (NASDAQ:DXCM) Target Price at $84.88

Shares of DexCom, Inc. (NASDAQ:DXCM) have been assigned an average recommendation of “Moderate Buy” from the twenty-seven brokerages that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, twenty-one have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $85.36.

A number of brokerages have issued reports on DXCM. William Blair raised DexCom to a “strong-buy” rating in a report on Friday, May 15th. Citigroup reiterated a “buy” rating and set a $84.00 target price (up from $79.00) on shares of DexCom in a research report on Thursday, May 28th. Barclays restated an “underweight” rating and issued a $64.00 price target (down from $67.00) on shares of DexCom in a research report on Monday, May 18th. Robert W. Baird set a $80.00 price target on shares of DexCom in a research note on Friday, May 1st. Finally, Truist Financial raised their price target on shares of DexCom from $80.00 to $87.00 and gave the company a “buy” rating in a research note on Thursday.

Insiders Place Their Bets

In related news, EVP Jon Coleman sold 4,911 shares of the firm’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $74.13, for a total transaction of $364,052.43. Following the completion of the transaction, the executive vice president directly owned 95,450 shares of the company’s stock, valued at $7,075,708.50. This trade represents a 4.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kevin R. Sayer sold 26,756 shares of DexCom stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $72.00, for a total value of $1,926,432.00. Following the transaction, the insider directly owned 355,726 shares in the company, valued at $25,612,272. The trade was a 7.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 71,750 shares of company stock valued at $5,163,241 over the last ninety days. 0.28% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On DexCom

A number of hedge funds have recently made changes to their positions in the stock. Trust Co. of Vermont boosted its holdings in DexCom by 14.8% in the fourth quarter. Trust Co. of Vermont now owns 1,122 shares of the medical device company’s stock valued at $74,000 after acquiring an additional 145 shares during the last quarter. CVA Family Office LLC increased its position in DexCom by 48.5% during the 4th quarter. CVA Family Office LLC now owns 450 shares of the medical device company’s stock valued at $30,000 after purchasing an additional 147 shares during the period. MassMutual Private Wealth & Trust FSB raised its holdings in DexCom by 15.4% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,147 shares of the medical device company’s stock worth $77,000 after purchasing an additional 153 shares during the last quarter. V Square Quantitative Management LLC raised its holdings in DexCom by 1.8% during the 1st quarter. V Square Quantitative Management LLC now owns 9,618 shares of the medical device company’s stock worth $604,000 after purchasing an additional 172 shares during the last quarter. Finally, Essex Financial Services Inc. raised its holdings in DexCom by 5.7% during the 1st quarter. Essex Financial Services Inc. now owns 3,256 shares of the medical device company’s stock worth $204,000 after purchasing an additional 175 shares during the last quarter. 97.75% of the stock is currently owned by institutional investors.

DexCom Stock Up 7.2%

Shares of NASDAQ:DXCM opened at $77.98 on Friday. The company has a fifty day moving average of $70.83 and a 200-day moving average of $68.67. The company has a market capitalization of $30.09 billion, a PE ratio of 33.32, a price-to-earnings-growth ratio of 1.20 and a beta of 1.45. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.64 and a current ratio of 1.95. DexCom has a 52-week low of $54.11 and a 52-week high of $89.98.

DexCom (NASDAQ:DXCM) last announced its quarterly earnings results on Thursday, April 30th. The medical device company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.09. DexCom had a return on equity of 33.33% and a net margin of 19.31%.The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the prior year, the company earned $0.32 EPS. DexCom’s revenue was up 15.0% compared to the same quarter last year. On average, equities analysts predict that DexCom will post 2.57 EPS for the current fiscal year.

DexCom Company Profile

DexCom, Inc is a medical device company that develops, manufactures and distributes continuous glucose monitoring (CGM) systems for people with diabetes. Its products are designed to provide near real-time glucose readings, trend information and alerts to help patients and clinicians manage insulin dosing and reduce hypoglycemia and hyperglycemia. The company’s offerings combine wearable glucose sensors, wireless transmitters and software applications that deliver data to smartphones, dedicated receivers and cloud-based platforms for remote monitoring.

Founded in 1999 and headquartered in San Diego, California, DexCom has focused its business on advancing CGM technology and expanding clinical use beyond traditional insulin-dependent populations.