Morgan Stanley Trims DexCom (NASDAQ:DXCM) Target Price to $75.00

DexCom (NASDAQ:DXCM) had its price objective trimmed by Morgan Stanley from $120.00 to $75.00 in a research report released on Friday morning, Benzinga reports. The firm currently has an equal weight rating on the medical device company’s stock.

Several other research firms have also commented on DXCM. Royal Bank of Canada dropped their target price on DexCom from $165.00 to $145.00 and set an outperform rating for the company in a research note on Friday. Wells Fargo & Company dropped their target price on DexCom from $145.00 to $80.00 and set an overweight rating for the company in a research note on Friday. Stifel Nicolaus dropped their target price on DexCom from $132.00 to $90.00 and set a buy rating for the company in a research note on Friday. Canaccord Genuity Group restated a buy rating and set a $145.00 price target on shares of DexCom in a research note on Tuesday, July 23rd. Finally, Raymond James upped their price target on DexCom from $151.00 to $160.00 and gave the stock a strong-buy rating in a research note on Friday, April 26th. Seven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $111.50.

DexCom Stock Up 5.4 %

Shares of NASDAQ:DXCM opened at $67.48 on Friday. The company has a quick ratio of 2.48, a current ratio of 2.82 and a debt-to-equity ratio of 1.00. DexCom has a 52-week low of $62.34 and a 52-week high of $142.00. The stock’s fifty day simple moving average is $114.02 and its 200-day simple moving average is $123.33. The company has a market capitalization of $27.04 billion, a P/E ratio of 43.54, a P/E/G ratio of 1.58 and a beta of 1.16.

DexCom (NASDAQ:DXCM) last released its earnings results on Thursday, July 25th. The medical device company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.39 by $0.04. The firm had revenue of $1 billion during the quarter, compared to analyst estimates of $1.04 billion. DexCom had a return on equity of 31.41% and a net margin of 16.95%. The business’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.34 earnings per share. As a group, equities research analysts forecast that DexCom will post 1.76 earnings per share for the current fiscal year.

Insider Transactions at DexCom

In related news, EVP Michael Jon Brown sold 652 shares of the stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $119.24, for a total value of $77,744.48. Following the completion of the transaction, the executive vice president now owns 67,560 shares of the company’s stock, valued at $8,055,854.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other DexCom news, EVP Sadie Stern sold 427 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $115.05, for a total transaction of $49,126.35. Following the transaction, the executive vice president now owns 75,877 shares of the company’s stock, valued at approximately $8,729,648.85. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Michael Jon Brown sold 652 shares of the stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $119.24, for a total value of $77,744.48. Following the transaction, the executive vice president now directly owns 67,560 shares in the company, valued at approximately $8,055,854.40. The disclosure for this sale can be found here. Insiders sold 3,483 shares of company stock valued at $401,450 over the last quarter. Company insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Team Hewins LLC lifted its holdings in DexCom by 3.4% during the 1st quarter. Team Hewins LLC now owns 2,555 shares of the medical device company’s stock worth $354,000 after buying an additional 83 shares during the last quarter. Bleakley Financial Group LLC lifted its holdings in DexCom by 1.3% during the 1st quarter. Bleakley Financial Group LLC now owns 6,856 shares of the medical device company’s stock worth $951,000 after buying an additional 87 shares during the last quarter. Capital Insight Partners LLC lifted its holdings in DexCom by 2.5% during the 2nd quarter. Capital Insight Partners LLC now owns 3,690 shares of the medical device company’s stock worth $418,000 after buying an additional 90 shares during the last quarter. D Orazio & Associates Inc. raised its position in shares of DexCom by 0.8% during the 4th quarter. D Orazio & Associates Inc. now owns 12,366 shares of the medical device company’s stock worth $1,534,000 after purchasing an additional 93 shares during the period. Finally, Gulf International Bank UK Ltd lifted its holdings in shares of DexCom by 0.3% in the 1st quarter. Gulf International Bank UK Ltd now owns 32,075 shares of the medical device company’s stock worth $4,448,000 after purchasing an additional 93 shares during the last quarter. 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.