DexCom (NASDAQ:DXCM) Upgraded by Robert W. Baird to Outperform Rating

DexCom (NASDAQ:DXCM) was upgraded by equities research analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a report released on Thursday,Benzinga reports. The brokerage currently has a $104.00 price target on the medical device company’s stock, up from their previous price target of $86.00. Robert W. Baird’s target price indicates a potential upside of 29.35% from the stock’s previous close.

Several other equities analysts also recently issued reports on DXCM. Sanford C. Bernstein boosted their price target on shares of DexCom from $82.00 to $86.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Royal Bank of Canada reduced their target price on shares of DexCom from $120.00 to $115.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Oppenheimer dropped their price target on shares of DexCom from $115.00 to $105.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Wells Fargo & Company boosted their price objective on DexCom from $90.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. raised their price target on DexCom from $75.00 to $85.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Six research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $99.29.

DexCom Stock Up 1.6 %

Shares of DexCom stock opened at $80.40 on Thursday. The stock has a market capitalization of $31.40 billion, a price-to-earnings ratio of 48.14, a PEG ratio of 2.36 and a beta of 1.12. DexCom has a twelve month low of $62.34 and a twelve month high of $142.00. The company has a current ratio of 2.46, a quick ratio of 2.12 and a debt-to-equity ratio of 1.23. The business’s 50 day simple moving average is $77.57 and its 200-day simple moving average is $78.37.

Insider Activity at DexCom

In other DexCom news, EVP Sadie Stern sold 4,259 shares of DexCom stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $74.73, for a total value of $318,275.07. Following the completion of the sale, the executive vice president now directly owns 71,192 shares in the company, valued at $5,320,178.16. The trade was a 5.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its position in shares of DexCom by 41.3% in the second quarter. Dimensional Fund Advisors LP now owns 919,650 shares of the medical device company’s stock worth $104,282,000 after buying an additional 268,802 shares during the last quarter. Mutual of America Capital Management LLC raised its position in shares of DexCom by 2.3% in the second quarter. Mutual of America Capital Management LLC now owns 55,054 shares of the medical device company’s stock valued at $6,242,000 after purchasing an additional 1,229 shares during the period. E Fund Management Co. Ltd. boosted its holdings in shares of DexCom by 6.5% during the 2nd quarter. E Fund Management Co. Ltd. now owns 5,455 shares of the medical device company’s stock worth $618,000 after buying an additional 331 shares during the period. Meiji Yasuda Asset Management Co Ltd. raised its holdings in DexCom by 9.4% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,976 shares of the medical device company’s stock worth $678,000 after acquiring an additional 512 shares during the period. Finally, Amalgamated Bank lifted its position in DexCom by 1.1% during the 2nd quarter. Amalgamated Bank now owns 84,778 shares of the medical device company’s stock worth $9,612,000 after acquiring an additional 891 shares during the last quarter. Institutional investors own 97.75% of the company’s stock.

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.