DexCom (NASDAQ:DXCM) Given New $82.00 Price Target at Morgan Stanley

DexCom (NASDAQ:DXCM) had its price target lifted by Morgan Stanley from $75.00 to $82.00 in a research note published on Friday,Benzinga reports. The brokerage currently has an equal weight rating on the medical device company’s stock.

A number of other equities research analysts also recently commented on DXCM. Robert W. Baird upgraded DexCom from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $86.00 to $104.00 in a research report on Thursday, January 16th. Raymond James decreased their price target on shares of DexCom from $115.00 to $99.00 and set a “strong-buy” rating on the stock in a research note on Friday, October 25th. Baird R W upgraded shares of DexCom from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 16th. Royal Bank of Canada decreased their price objective on DexCom from $120.00 to $115.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Finally, JPMorgan Chase & Co. increased 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. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $99.06.

DexCom Trading Up 5.9 %

Shares of NASDAQ:DXCM opened at $89.07 on Friday. DexCom has a 52-week low of $62.34 and a 52-week high of $142.00. The stock has a market capitalization of $34.79 billion, a price-to-earnings ratio of 53.34, a PEG ratio of 2.26 and a beta of 1.14. The company has a debt-to-equity ratio of 1.23, a quick ratio of 2.12 and a current ratio of 2.46. The stock’s 50-day simple moving average is $82.21 and its two-hundred day simple moving average is $75.25.

DexCom (NASDAQ:DXCM) last issued its quarterly earnings results on Thursday, February 13th. The medical device company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.05). DexCom had a return on equity of 31.40% and a net margin of 17.22%. Analysts expect that DexCom will post 1.69 EPS for the current year.

Insider Buying and Selling at DexCom

In other DexCom news, COO Jacob Steven Leach sold 2,634 shares of the stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $86.91, for a total transaction of $228,920.94. Following the sale, the chief operating officer now owns 268,644 shares in the company, valued at approximately $23,347,850.04. This represents a 0.97 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kevin R. Sayer sold 33,359 shares of the company’s stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $86.91, for a total value of $2,899,230.69. Following the completion of the sale, the chief executive officer now owns 319,037 shares in the company, valued at $27,727,505.67. This represents a 9.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 42,342 shares of company stock valued at $3,628,069. Insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Blue Whale Capital LLP grew its position in shares of DexCom by 91.9% in the third quarter. Blue Whale Capital LLP now owns 236,000 shares of the medical device company’s stock valued at $15,821,000 after purchasing an additional 113,000 shares during the period. Taylor Frigon Capital Management LLC boosted its position in shares of DexCom by 51.6% in the third quarter. Taylor Frigon Capital Management LLC now owns 32,554 shares of the medical device company’s stock worth $2,182,000 after acquiring an additional 11,075 shares during the last quarter. Brooktree Capital Management purchased a new stake in DexCom in the third quarter valued at approximately $683,000. National Pension Service raised its stake in DexCom by 4.1% during the third quarter. National Pension Service now owns 949,743 shares of the medical device company’s stock worth $63,671,000 after purchasing an additional 37,363 shares during the period. Finally, Intact Investment Management Inc. acquired a new position in shares of DexCom in the 3rd quarter valued at $650,000. 97.75% of the stock is currently owned by hedge funds and other institutional investors.

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.