DexCom (NASDAQ:DXCM) Price Target Cut to $90.00 by Analysts at Piper Sandler

DexCom (NASDAQ:DXCM) had its price objective trimmed by Piper Sandler from $150.00 to $90.00 in a research report report published on Friday morning, Benzinga reports. The firm currently has an overweight rating on the medical device company’s stock.

Other analysts have also issued research reports about the company. Wells Fargo & Company lowered their target price on DexCom from $145.00 to $80.00 and set an overweight rating for the company in a report on Friday. Canaccord Genuity Group restated a buy rating and set a $145.00 price objective on shares of DexCom in a research note on Tuesday. Citigroup lifted their target price on DexCom from $148.00 to $161.00 and gave the company a buy rating in a research note on Wednesday, April 3rd. StockNews.com downgraded shares of DexCom from a buy rating to a hold rating in a report on Monday, June 10th. Finally, Morgan Stanley lowered their price target on shares of DexCom from $132.00 to $120.00 and set an equal weight rating on the stock in a report on Monday, July 15th. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $113.06.

DexCom Stock Performance

DXCM stock opened at $64.00 on Friday. DexCom has a 1-year low of $62.34 and a 1-year high of $142.00. The business has a 50-day moving average price of $115.28 and a 200 day moving average price of $123.83. The company has a market capitalization of $25.45 billion, a P/E ratio of 41.29, a PEG ratio of 2.64 and a beta of 1.16. The company has a debt-to-equity ratio of 1.08, a current ratio of 2.90 and a quick ratio of 2.53.

DexCom (NASDAQ:DXCM) last posted its earnings results on Thursday, July 25th. The medical device company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.04. DexCom had a net margin of 16.95% and a return on equity of 32.27%. The business had revenue of $1 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter last year, the firm posted $0.34 EPS. The company’s revenue for the quarter was up 15.3% on a year-over-year basis. As a group, equities research analysts forecast that DexCom will post 1.78 EPS for the current fiscal year.

Insider Activity

In related news, EVP Sadie Stern sold 427 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $115.05, for a total value of $49,126.35. Following the completion of the transaction, the executive vice president now owns 75,877 shares in the company, valued at approximately $8,729,648.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other DexCom news, EVP Sadie Stern sold 427 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $115.05, for a total transaction of $49,126.35. Following the completion of the transaction, the executive vice president now directly owns 75,877 shares of the company’s stock, valued at approximately $8,729,648.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Bridgette P. Heller sold 1,000 shares of the stock in a transaction 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 completion of the sale, the director now owns 25,349 shares in the company, valued at approximately $2,878,378.95. The disclosure for this sale can be found here. Insiders have sold 4,112 shares of company stock valued at $480,861 over the last ninety days. 0.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Bank of New Hampshire acquired a new stake in shares of DexCom during the 1st quarter worth approximately $1,508,000. abrdn plc boosted its holdings in DexCom by 21.1% during the fourth quarter. abrdn plc now owns 380,535 shares of the medical device company’s stock worth $47,221,000 after buying an additional 66,348 shares in the last quarter. Cerity Partners LLC grew its position in DexCom by 5,791.0% during the fourth quarter. Cerity Partners LLC now owns 463,973 shares of the medical device company’s stock valued at $57,574,000 after buying an additional 456,097 shares during the period. Eagle Asset Management Inc. increased its holdings in DexCom by 21.5% in the fourth quarter. Eagle Asset Management Inc. now owns 1,756,216 shares of the medical device company’s stock valued at $217,929,000 after buying an additional 310,728 shares in the last quarter. Finally, Alberta Investment Management Corp raised its position in shares of DexCom by 27.0% in the fourth quarter. Alberta Investment Management Corp now owns 323,335 shares of the medical device company’s stock worth $40,123,000 after acquiring an additional 68,723 shares during the period. 97.75% of the stock is owned by institutional investors and hedge funds.

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 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.