DexCom, Inc. (NASDAQ:DXCM) Stock Has Consensus Target Price of $92.43 According to Brokerages

Shares of DexCom, Inc. (NASDAQ:DXCM) have received a consensus recommendation of “Buy” from the twenty-four brokerages that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation, nineteen have assigned a buy recommendation and three have issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $92.43.

Several equities research analysts have recently weighed in on DXCM shares. Robert W. Baird set a $105.00 price target on shares of DexCom in a research report on Friday, July 31st. Royal Bank Of Canada reiterated an “outperform” rating and set a $105.00 price objective (up from $90.00) on shares of DexCom in a research note on Thursday, October 1st. Raymond James Financial reissued a “strong-buy” rating and set a $94.00 price objective on shares of DexCom in a report on Friday, July 31st. Argus lifted their price objective on shares of DexCom from $86.00 to $96.00 and gave the company a “buy” rating in a report on Tuesday, August 4th. Finally, Citigroup reissued a “buy” rating and issued a $88.00 price objective (up from $84.00) on shares of DexCom in a research note on Friday, July 31st.

Insider Buying and Selling at DexCom

In other news, Director Nicholas Augustinos sold 6,539 shares of the business’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $84.04, for a total value of $549,537.56. Following the completion of the transaction, the director directly owned 29,293 shares of the company’s stock, valued at approximately $2,461,783.72. The trade was a 18.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Sadie Stern sold 2,565 shares of the company’s stock in a transaction on Monday, September 28th. The stock was sold at an average price of $86.15, for a total value of $220,974.75. Following the sale, the executive vice president owned 123,478 shares of the company’s stock, valued at $10,637,629.70. This trade represents a 2.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 24,257 shares of company stock worth $2,049,173. 0.28% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On DexCom

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of DexCom by 15.6% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,261,876 shares of the medical device company’s stock valued at $758,487,000 after buying an additional 1,515,702 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of DexCom by 32.3% in the 1st quarter. Janus Henderson Group PLC now owns 2,644,539 shares of the medical device company’s stock worth $166,077,000 after buying an additional 645,534 shares during the last quarter. Legal & General Group Plc bought a new position in shares of DexCom during the 2nd quarter worth approximately $173,237,000. Arrowstreet Capital Limited Partnership raised its stake in shares of DexCom by 100.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,545,103 shares of the medical device company’s stock worth $159,832,000 after acquiring an additional 1,275,142 shares in the last quarter. Finally, Deutsche Bank AG bought a new position in shares of DexCom during the 2nd quarter worth approximately $164,035,000. Hedge funds and other institutional investors own 97.75% of the company’s stock.

DexCom Stock Up 0.8%

NASDAQ:DXCM opened at $78.57 on Tuesday. DexCom has a 1-year low of $54.11 and a 1-year high of $92.59. The company has a 50-day moving average of $86.83 and a 200 day moving average of $74.40. The firm has a market cap of $29.65 billion, a PE ratio of 31.06, a price-to-earnings-growth ratio of 1.31 and a beta of 1.48. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.73 and a quick ratio of 1.43.

DexCom (NASDAQ:DXCM) last issued its earnings results on Thursday, July 30th. The medical device company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.09. The company had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.29 billion. DexCom had a net margin of 20.12% and a return on equity of 35.94%. The firm’s quarterly revenue was up 13.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.48 EPS. As a group, research analysts anticipate that DexCom will post 2.64 EPS for the current fiscal year.

About DexCom

DexCom, Inc develops and commercializes continuous glucose monitoring (CGM) systems for people with diabetes. Its devices use a small wearable sensor to measure glucose levels in real time and transmit readings to compatible smartphones, receivers, smartwatches, and other connected devices, helping users monitor glucose trends and make informed decisions about their health.

The company’s product portfolio includes the Dexcom G7 and Dexcom G6 CGM systems, as well as Dexcom ONE and Dexcom ONE+ products offered in select markets.