DexCom (NASDAQ:DXCM) Price Target Raised to $185.00 at Canaccord Genuity

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DexCom (NASDAQ:DXCM) had its price objective raised by Canaccord Genuity from $160.00 to $185.00 in a research report report published on Thursday, August 1st, The Fly reports. The brokerage currently has a buy rating on the medical device company’s stock.

A number of other research analysts have also commented on the company. Zacks Investment Research raised DexCom from a hold rating to a buy rating and set a $138.00 price objective on the stock in a report on Monday, May 6th. UBS Group lowered their price objective on DexCom from $150.00 to $140.00 and set a neutral rating on the stock in a report on Tuesday, April 30th. Raymond James decreased their target price on DexCom from $160.00 to $150.00 and set an outperform rating for the company in a research note on Thursday, May 2nd. BMO Capital Markets increased their target price on DexCom from $167.00 to $172.00 and gave the company an outperform rating in a research note on Thursday, May 2nd. Finally, Piper Jaffray Companies increased their target price on DexCom from $173.00 to $182.00 and gave the company a positive rating in a research note on Wednesday, July 31st. Six research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $166.75.

NASDAQ:DXCM opened at $158.53 on Thursday. The firm has a market capitalization of $14.00 billion, a price-to-earnings ratio of 528.43 and a beta of 0.80. DexCom has a 1-year low of $105.05 and a 1-year high of $161.30. The company has a current ratio of 6.05, a quick ratio of 5.64 and a debt-to-equity ratio of 1.56. The business’s fifty day moving average price is $150.54 and its 200 day moving average price is $136.32.

DexCom (NASDAQ:DXCM) last issued its earnings results on Wednesday, July 31st. The medical device company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.07. DexCom had a positive return on equity of 10.41% and a negative net margin of 13.96%. The company had revenue of $336.40 million for the quarter, compared to analyst estimates of $304.40 million. During the same period in the prior year, the firm posted ($0.10) EPS. The business’s revenue was up 38.7% compared to the same quarter last year. Equities analysts forecast that DexCom will post 0.97 earnings per share for the current year.

In other news, EVP Steven Robert Pacelli sold 3,597 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $116.71, for a total value of $419,805.87. Following the transaction, the executive vice president now directly owns 72,570 shares in the company, valued at approximately $8,469,644.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Richard Doubleday sold 2,016 shares of DexCom stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $153.56, for a total value of $309,576.96. Following the transaction, the executive vice president now owns 72,570 shares in the company, valued at $11,143,849.20. The disclosure for this sale can be found here. Insiders sold a total of 55,665 shares of company stock valued at $7,344,275 over the last three months. Insiders own 1.80% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Gradient Investments LLC bought a new position in DexCom during the second quarter worth about $25,000. Virtus ETF Advisers LLC bought a new stake in shares of DexCom in the second quarter valued at about $29,000. CSat Investment Advisory L.P. bought a new stake in shares of DexCom in the second quarter valued at about $31,000. Steward Partners Investment Advisory LLC bought a new stake in shares of DexCom in the second quarter valued at about $31,000. Finally, Wealthcare Advisory Partners LLC bought a new stake in shares of DexCom in the second quarter valued at about $37,000. Hedge funds and other institutional investors own 96.13% 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 offers its systems for ambulatory use by people with diabetes; and for use by healthcare providers. Its products include DexCom G6, a CGM system for diabetes management; DexCom G5 mobile CGM system to communicate directly to patient's mobile device; DexCom G4 PLATINUM system for continuous use by adults with diabetes; and DexCom Share, a remote monitoring system.

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Analyst Recommendations for DexCom (NASDAQ:DXCM)

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