UBS Group Raises DexCom (NASDAQ:DXCM) Price Target to $163.00

DexCom (NASDAQ:DXCM) had its price objective boosted by UBS Group from $153.00 to $163.00 in a report issued on Wednesday morning, Benzinga reports. UBS Group currently has a buy rating on the medical device company’s stock.

DXCM has been the subject of a number of other reports. Piper Sandler lifted their target price on DexCom from $135.00 to $150.00 and gave the company an overweight rating in a research note on Tuesday, December 19th. Royal Bank of Canada started coverage on shares of DexCom in a report on Tuesday, March 12th. They set an outperform rating and a $165.00 price target for the company. Wells Fargo & Company lifted their price objective on shares of DexCom from $110.00 to $136.00 and gave the company an overweight rating in a research report on Wednesday, December 13th. StockNews.com raised DexCom from a hold rating to a buy rating in a report on Wednesday, April 3rd. Finally, Citigroup lifted their target price on DexCom from $148.00 to $161.00 and gave the company a buy rating in a research note on Wednesday, April 3rd. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, DexCom presently has a consensus rating of Moderate Buy and an average price target of $141.40.

DexCom Price Performance

Shares of DXCM stock opened at $136.14 on Wednesday. The firm has a market cap of $52.48 billion, a P/E ratio of 103.92, a P/E/G ratio of 2.41 and a beta of 1.20. The firm has a fifty day moving average of $128.56 and a two-hundred day moving average of $115.23. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.84 and a quick ratio of 2.48. DexCom has a 1-year low of $74.75 and a 1-year high of $142.00.

DexCom (NASDAQ:DXCM) last announced its quarterly earnings data on Thursday, February 8th. The medical device company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.07. DexCom had a return on equity of 28.31% and a net margin of 14.95%. The firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the prior year, the firm posted $0.34 earnings per share. DexCom’s revenue for the quarter was up 26.9% compared to the same quarter last year. As a group, research analysts anticipate that DexCom will post 1.76 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Jereme M. Sylvain sold 3,363 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $116.73, for a total transaction of $392,562.99. Following the transaction, the chief financial officer now owns 71,142 shares of the company’s stock, valued at $8,304,405.66. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Kevin R. Sayer sold 37,325 shares of the company’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $123.63, for a total transaction of $4,614,489.75. Following the completion of the sale, the chief executive officer now directly owns 362,841 shares of the company’s stock, valued at approximately $44,858,032.83. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Jereme M. Sylvain sold 3,363 shares of DexCom stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $116.73, for a total transaction of $392,562.99. Following the completion of the transaction, the chief financial officer now owns 71,142 shares in the company, valued at approximately $8,304,405.66. The disclosure for this sale can be found here. Insiders have sold a total of 235,892 shares of company stock valued at $31,252,330 in the last three months. Insiders own 0.41% of the company’s stock.

Institutional Investors Weigh In On DexCom

Hedge funds and other institutional investors have recently made changes to their positions in the business. Capital World Investors boosted its position in shares of DexCom by 130.7% in the fourth quarter. Capital World Investors now owns 9,278,685 shares of the medical device company’s stock valued at $1,151,392,000 after acquiring an additional 5,256,092 shares during the period. Norges Bank bought a new stake in shares of DexCom in the fourth quarter valued at about $540,178,000. Artisan Partners Limited Partnership lifted its position in shares of DexCom by 164.8% in the 4th quarter. Artisan Partners Limited Partnership now owns 5,900,308 shares of the medical device company’s stock worth $732,169,000 after acquiring an additional 3,672,471 shares during the period. Capital Research Global Investors increased its position in shares of DexCom by 21.4% during the fourth quarter. Capital Research Global Investors now owns 15,296,032 shares of the medical device company’s stock valued at $1,898,085,000 after purchasing an additional 2,695,296 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of DexCom by 64.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,499,896 shares of the medical device company’s stock valued at $682,483,000 after purchasing an additional 2,157,933 shares in the last quarter. 97.75% of the stock is owned by institutional investors and hedge funds.

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 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.