DexCom (NASDAQ:DXCM) Price Target Raised to $185.00

DexCom (NASDAQ:DXCM) had its price objective hoisted by Canaccord Genuity from $160.00 to $185.00 in a research report released on Thursday, The Fly reports. Canaccord Genuity currently has a buy rating on the medical device company’s stock.

Several other brokerages have also recently commented on DXCM. BMO Capital Markets increased their price target on DexCom from $167.00 to $172.00 and gave the company an outperform rating in a research report on Thursday, May 2nd. BidaskClub raised DexCom from a hold rating to a buy rating in a research report on Tuesday, July 23rd. Zacks Investment Research raised DexCom from a hold rating to a buy rating and set a $138.00 price target for the company in a research report on Monday, May 6th. TheStreet raised DexCom from a d+ rating to a c rating in a research report on Friday, June 28th. Finally, Raymond James reduced their price target on DexCom from $160.00 to $150.00 and set an outperform rating for the company in a research report on Thursday, May 2nd. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $163.71.

Shares of NASDAQ:DXCM traded down $2.64 during mid-day trading on Thursday, reaching $141.57. 7,762 shares of the stock were exchanged, compared to its average volume of 853,906. The company has a current ratio of 6.05, a quick ratio of 6.75 and a debt-to-equity ratio of 1.56. The company has a market capitalization of $13.15 billion, a P/E ratio of 468.67 and a beta of 0.80. DexCom has a one year low of $105.05 and a one year high of $161.30. The business’s 50 day moving average price is $149.93.

DexCom (NASDAQ:DXCM) last posted its quarterly earnings data on Wednesday, July 31st. The medical device company reported $0.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.07. DexCom had a positive return on equity of 10.41% and a negative net margin of 13.96%. The business had revenue of $336.40 million during the quarter, compared to the consensus estimate of $304.40 million. During the same period last year, the company earned ($0.10) earnings per share. DexCom’s quarterly revenue was up 38.7% on a year-over-year basis. As a group, research analysts forecast that DexCom will post 0.94 EPS for the current fiscal year.

In other news, EVP Steven Robert Pacelli sold 3,597 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $116.71, for a total value of $419,805.87. Following the completion of the sale, the executive vice president now directly owns 72,570 shares of the company’s stock, valued at $8,469,644.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Donald Abbey sold 9,030 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $121.08, for a total value of $1,093,352.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 63,065 shares of company stock valued at $8,207,313. Insiders own 0.88% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in DXCM. World Asset Management Inc increased its stake in shares of DexCom by 2.4% during the second quarter. World Asset Management Inc now owns 2,982 shares of the medical device company’s stock worth $447,000 after purchasing an additional 69 shares during the period. OLD National Bancorp IN increased its stake in shares of DexCom by 1.1% during the second quarter. OLD National Bancorp IN now owns 9,838 shares of the medical device company’s stock worth $1,474,000 after purchasing an additional 108 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of DexCom by 4.4% during the second quarter. Nisa Investment Advisors LLC now owns 2,750 shares of the medical device company’s stock worth $412,000 after purchasing an additional 115 shares during the period. Alps Advisors Inc. increased its stake in shares of DexCom by 3.6% during the first quarter. Alps Advisors Inc. now owns 3,659 shares of the medical device company’s stock worth $436,000 after purchasing an additional 126 shares during the period. Finally, Wedbush Securities Inc. increased its stake in shares of DexCom by 4.4% during the second quarter. Wedbush Securities Inc. now owns 3,108 shares of the medical device company’s stock worth $466,000 after purchasing an additional 130 shares during the period. 96.21% of the stock is 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 offers its systems for ambulatory use by people with diabetes; and for use by healthcare providers. Its products include DexCom G6, a CGM system for diabetes management; DexCom G5 mobile CGM system to communicate directly to patient's mobile device; DexCom G4 PLATINUM system for continuous use by adults with diabetes; and DexCom Share, a remote monitoring system.

Featured Story: How is the LIBOR rate calculated?

The Fly

Analyst Recommendations for DexCom (NASDAQ:DXCM)

Receive News & Ratings for DexCom Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DexCom and related companies with MarketBeat.com's FREE daily email newsletter.