Robert W. Baird Lowers DexCom (NASDAQ:DXCM) Price Target to $105.00

DexCom (NASDAQ:DXCM) had its target price reduced by research analysts at Robert W. Baird from $115.00 to $105.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “outperform” rating on the medical device company’s stock. Robert W. Baird’s price objective indicates a potential upside of 28.64% from the stock’s current price.

A number of other brokerages have also issued reports on DXCM. Redburn Atlantic raised shares of DexCom from a “neutral” rating to a “buy” rating and boosted their target price for the company from $85.00 to $115.00 in a research note on Monday, February 3rd. Baird R W upgraded shares of DexCom from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 16th. Wells Fargo & Company reaffirmed an “overweight” rating on shares of DexCom in a research report on Saturday, March 8th. Cfra Research upgraded shares of DexCom to a “hold” rating in a research note on Friday, March 21st. Finally, Morgan Stanley raised their target price on DexCom from $75.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $99.22.

DexCom Stock Performance

DexCom stock opened at $81.62 on Friday. The company’s 50-day moving average price is $71.46 and its 200-day moving average price is $76.82. The company has a quick ratio of 1.28, a current ratio of 1.47 and a debt-to-equity ratio of 0.59. DexCom has a twelve month low of $57.52 and a twelve month high of $132.26. The company has a market cap of $32.00 billion, a PE ratio of 57.08, a price-to-earnings-growth ratio of 2.30 and a beta of 1.50.

DexCom (NASDAQ:DXCM) last posted its quarterly earnings data 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 analysts’ expectations of $1.02 billion. During the same period in the previous year, the firm earned $0.32 earnings per share. The firm’s quarterly revenue was up 12.5% compared to the same quarter last year. On average, equities research analysts forecast that DexCom will post 2.03 EPS for the current fiscal year.

Insider Activity at DexCom

In related news, EVP Michael Jon Brown sold 13,000 shares of DexCom stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $70.38, for a total value of $914,940.00. Following the sale, the executive vice president now directly owns 105,602 shares in the company, valued at approximately $7,432,268.76. The trade was a 10.96 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Jereme M. Sylvain sold 7,000 shares of DexCom stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $73.83, for a total value of $516,810.00. Following the completion of the sale, the executive vice president now directly owns 135,482 shares in the company, valued at $10,002,636.06. This represents a 4.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,926 shares of company stock worth $4,734,384 in the last 90 days. Corporate insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On DexCom

A number of hedge funds have recently modified their holdings of DXCM. Virtu Financial LLC acquired a new position in DexCom during the third quarter worth $1,020,000. Pine Valley Investments Ltd Liability Co raised its position in shares of DexCom by 59.2% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 5,679 shares of the medical device company’s stock valued at $381,000 after buying an additional 2,111 shares during the period. World Investment Advisors LLC acquired a new position in shares of DexCom in the 3rd quarter valued at $2,351,000. Wilmington Savings Fund Society FSB purchased a new position in DexCom during the third quarter worth about $381,000. Finally, Tidal Investments LLC increased its position in shares of DexCom by 68.0% during the third quarter. Tidal Investments LLC now owns 36,742 shares of the medical device company’s stock valued at $2,463,000 after acquiring an additional 14,872 shares during the last quarter. 97.75% of the stock is currently owned by institutional investors and hedge funds.

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.