DexCom (NASDAQ:DXCM) Given New $91.00 Price Target at Citigroup

DexCom (NASDAQ:DXCM) had its price target upped by stock analysts at Citigroup from $85.00 to $91.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the medical device company’s stock. Citigroup’s target price indicates a potential upside of 13.11% from the company’s previous close.

Other analysts have also issued reports about the stock. Royal Bank of Canada cut their target price on shares of DexCom from $120.00 to $115.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Canaccord Genuity Group boosted their target price on shares of DexCom from $89.00 to $99.00 and gave the company a “buy” rating in a research report on Monday. Stifel Nicolaus boosted their target price on shares of DexCom from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Raymond James cut their target price on shares of DexCom from $115.00 to $99.00 and set a “strong-buy” rating for the company in a research report on Friday, October 25th. Finally, JPMorgan Chase & Co. boosted their target price on shares of DexCom from $75.00 to $85.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Seven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, DexCom presently has a consensus rating of “Moderate Buy” and a consensus price target of $98.00.

DexCom Stock Performance

Shares of DXCM traded up $1.04 during mid-day trading on Wednesday, hitting $80.45. 1,081,209 shares of the company traded hands, compared to its average volume of 3,883,230. 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 has a 50-day moving average price of $72.77 and a two-hundred day moving average price of $85.41. DexCom has a 1 year low of $62.34 and a 1 year high of $142.00. The stock has a market cap of $31.42 billion, a price-to-earnings ratio of 48.17, a P/E/G ratio of 2.38 and a beta of 1.12.

Insider Transactions at DexCom

In other news, EVP Sadie Stern sold 4,259 shares of the business’s stock in a transaction 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 transaction, the executive vice president now owns 71,192 shares of the company’s stock, valued at approximately $5,320,178.16. The trade was a 5.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.30% of the company’s stock.

Institutional Investors Weigh In On DexCom

A number of hedge funds have recently bought and sold shares of DXCM. Jennison Associates LLC raised its stake in DexCom by 1,683.2% during the third quarter. Jennison Associates LLC now owns 6,932,899 shares of the medical device company’s stock valued at $464,782,000 after purchasing an additional 6,544,102 shares in the last quarter. Westfield Capital Management Co. LP raised its stake in DexCom by 44.6% during the third quarter. Westfield Capital Management Co. LP now owns 2,842,057 shares of the medical device company’s stock valued at $190,532,000 after purchasing an additional 876,739 shares in the last quarter. Two Sigma Advisers LP raised its stake in DexCom by 182.7% during the third quarter. Two Sigma Advisers LP now owns 1,143,476 shares of the medical device company’s stock valued at $76,659,000 after purchasing an additional 739,000 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in DexCom by 189.1% during the second quarter. Canada Pension Plan Investment Board now owns 665,646 shares of the medical device company’s stock valued at $75,471,000 after purchasing an additional 435,401 shares in the last quarter. Finally, Intech Investment Management LLC raised its stake in DexCom by 2,083.0% during the third quarter. Intech Investment Management LLC now owns 387,330 shares of the medical device company’s stock valued at $25,967,000 after purchasing an additional 369,587 shares in the last quarter. Hedge funds and other 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.