DexCom (NASDAQ:DXCM) Stock Rating Reaffirmed by Canaccord Genuity Group

Canaccord Genuity Group reissued their buy rating on shares of DexCom (NASDAQ:DXCM) in a research note published on Tuesday, Benzinga reports. They currently have a $145.00 price target on the medical device company’s stock.

Several other equities research analysts have also recently weighed in on the company. Raymond James upped their target price on DexCom from $151.00 to $160.00 and gave the stock a strong-buy rating in a report on Friday, April 26th. Redburn Atlantic initiated coverage on DexCom in a research report on Thursday, May 30th. They issued a neutral rating and a $130.00 price target for the company. Stifel Nicolaus reduced their price target on DexCom from $145.00 to $132.00 and set a buy rating for the company in a research report on Friday, July 12th. Citigroup boosted their price target on DexCom from $148.00 to $161.00 and gave the stock a buy rating in a research report on Wednesday, April 3rd. Finally, StockNews.com lowered DexCom from a buy rating to a hold rating in a research report on Monday, June 10th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $139.33.

DexCom Price Performance

DXCM opened at $107.85 on Tuesday. DexCom has a 52-week low of $74.75 and a 52-week high of $142.00. The stock has a market cap of $42.89 billion, a P/E ratio of 69.58, a PEG ratio of 2.74 and a beta of 1.16. The business has a fifty day moving average of $116.63 and a 200 day moving average of $124.29. The company has a quick ratio of 2.53, a current ratio of 2.90 and a debt-to-equity ratio of 1.08.

DexCom (NASDAQ:DXCM) last issued its earnings results on Thursday, April 25th. The medical device company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.05. DexCom had a return on equity of 31.01% and a net margin of 16.82%. The business had revenue of $921.00 million during the quarter, compared to analysts’ expectations of $911.20 million. As a group, sell-side analysts anticipate that DexCom will post 1.78 EPS for the current year.

Insider Transactions at DexCom

In other news, EVP Michael Jon Brown sold 629 shares of the company’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $126.25, for a total value of $79,411.25. Following the sale, the executive vice president now owns 68,212 shares in the company, valued at $8,611,765. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other DexCom news, Director Bridgette P. Heller sold 1,000 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $113.55, for a total transaction of $113,550.00. Following the transaction, the director now owns 25,349 shares in the company, valued at $2,878,378.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael Jon Brown sold 629 shares of the stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $126.25, for a total value of $79,411.25. Following the transaction, the executive vice president now owns 68,212 shares in the company, valued at approximately $8,611,765. The disclosure for this sale can be found here. Insiders have sold 4,112 shares of company stock worth $480,861 over the last quarter. 0.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On DexCom

A number of hedge funds have recently bought and sold shares of DXCM. Capital World Investors raised its holdings in shares of DexCom by 130.7% during the fourth quarter. Capital World Investors now owns 9,278,685 shares of the medical device company’s stock valued at $1,151,392,000 after acquiring an additional 5,256,092 shares during the last quarter. Norges Bank acquired a new position in shares of DexCom during the fourth quarter valued at approximately $540,178,000. Artisan Partners Limited Partnership raised its holdings in shares of DexCom by 164.8% during the fourth quarter. Artisan Partners Limited Partnership now owns 5,900,308 shares of the medical device company’s stock valued at $732,169,000 after acquiring an additional 3,672,471 shares during the last quarter. Capital Research Global Investors raised its holdings in shares of DexCom by 21.4% during the fourth quarter. Capital Research Global Investors now owns 15,296,032 shares of the medical device company’s stock valued at $1,898,085,000 after acquiring an additional 2,695,296 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new position in shares of DexCom during the fourth quarter valued at approximately $231,773,000. Hedge funds and other institutional investors own 97.75% of the company’s stock.

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.