DexCom (NASDAQ:DXCM) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

DexCom (NASDAQ:DXCM) had its target price hoisted by research analysts at Canaccord Genuity Group from $90.00 to $97.00 in a research note issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the medical device company’s stock. Canaccord Genuity Group‘s target price points to a potential upside of 17.88% from the company’s previous close.

DXCM has been the subject of several other reports. Citigroup reissued a “buy” rating and set a $88.00 price target (up from $84.00) on shares of DexCom in a research report on Friday, July 31st. Truist Financial set a $102.00 price target on DexCom and gave the stock a “buy” rating in a research report on Friday, September 18th. Piper Sandler reiterated an “overweight” rating and set a $95.00 price objective (up from $88.00) on shares of DexCom in a research note on Friday, July 31st. Barclays increased their price objective on DexCom from $115.00 to $120.00 and gave the company an “overweight” rating in a report on Friday. Finally, Benchmark raised their target price on shares of DexCom from $77.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, DexCom has a consensus rating of “Buy” and a consensus target price of $93.70.

DexCom Stock Performance

DexCom stock opened at $82.29 on Friday. The firm has a 50-day moving average of $85.82 and a 200-day moving average of $74.65. DexCom has a one year low of $54.11 and a one year high of $92.59. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.74 and a quick ratio of 1.40. The company has a market cap of $30.69 billion, a price-to-earnings ratio of 32.27, a P/E/G ratio of 1.37 and a beta of 1.45.

DexCom (NASDAQ:DXCM) last announced its quarterly earnings data on Thursday, October 29th. The medical device company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.05. The company had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.33 billion. DexCom had a return on equity of 37.77% and a net margin of 19.42%. DexCom’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.61 EPS. On average, equities analysts expect that DexCom will post 2.67 earnings per share for the current fiscal year.

Insider Activity at DexCom

In related news, EVP Michael Brown sold 1,700 shares of the company’s stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $85.48, for a total value of $145,316.00. Following the transaction, the executive vice president owned 98,185 shares in the company, valued at approximately $8,392,853.80. This represents a 1.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Nicholas Augustinos sold 6,539 shares of the stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $84.04, for a total transaction of $549,537.56. Following the completion of the transaction, the director directly owned 29,293 shares in the company, valued at approximately $2,461,783.72. This represents a 18.25% 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. In the last quarter, insiders have sold 22,822 shares of company stock worth $1,920,193. 0.28% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On DexCom

Institutional investors have recently made changes to their positions in the company. Ascentis Independent Advisors acquired a new position in shares of DexCom in the first quarter valued at approximately $25,000. Latitude Advisors LLC bought a new position in shares of DexCom during the third quarter worth approximately $32,000. Hilton Head Capital Partners LLC lifted its holdings in DexCom by 242.3% during the 3rd quarter. Hilton Head Capital Partners LLC now owns 380 shares of the medical device company’s stock worth $33,000 after purchasing an additional 269 shares during the last quarter. Wellington Grp LLC lifted its holdings in DexCom by 778.7% during the 1st quarter. Wellington Grp LLC now owns 536 shares of the medical device company’s stock worth $34,000 after purchasing an additional 475 shares during the last quarter. Finally, Elevation Wealth Partners LLC lifted its holdings in DexCom by 61.0% during the 3rd quarter. Elevation Wealth Partners LLC now owns 401 shares of the medical device company’s stock worth $35,000 after purchasing an additional 152 shares during the last quarter. Institutional investors own 97.75% of the company’s stock.

DexCom Company Profile

DexCom, Inc develops and commercializes continuous glucose monitoring (CGM) systems for people with diabetes. Its devices use a small wearable sensor to measure glucose levels in real time and transmit readings to compatible smartphones, receivers, smartwatches, and other connected devices, helping users monitor glucose trends and make informed decisions about their health.

The company’s product portfolio includes the Dexcom G7 and Dexcom G6 CGM systems, as well as Dexcom ONE and Dexcom ONE+ products offered in select markets.