JPMorgan Chase & Co. Boosts DexCom (NASDAQ:DXCM) Price Target to $85.00

DexCom (NASDAQ:DXCM) had its price objective hoisted by analysts at JPMorgan Chase & Co. from $75.00 to $85.00 in a report issued on Friday, Benzinga reports. The firm presently has a “neutral” rating on the medical device company’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 15.66% from the stock’s current price.

Several other equities research analysts also recently commented on the stock. Royal Bank of Canada cut their target price on shares of DexCom from $130.00 to $120.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 8th. Wells Fargo & Company raised their target price on DexCom from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday. StockNews.com lowered DexCom from a “buy” rating to a “hold” rating in a research note on Saturday, October 12th. Baird R W lowered shares of DexCom from a “strong-buy” rating to a “hold” rating in a report on Friday, July 26th. Finally, Robert W. Baird lifted their target price on shares of DexCom from $80.00 to $82.00 and gave the stock a “neutral” rating in a research note on Monday, August 5th. Seven analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $110.50.

DexCom Stock Performance

Shares of NASDAQ:DXCM traded down $1.36 on Friday, reaching $73.49. 4,877,895 shares of the company’s stock were exchanged, compared to its average volume of 3,858,182. The company has a current ratio of 2.82, a quick ratio of 2.48 and a debt-to-equity ratio of 1.00. The company has a market capitalization of $29.23 billion, a price-to-earnings ratio of 47.41, a PEG ratio of 2.16 and a beta of 1.18. The company has a fifty day moving average of $70.13 and a 200-day moving average of $98.71. DexCom has a twelve month low of $62.34 and a twelve month high of $142.00.

DexCom (NASDAQ:DXCM) last released its quarterly earnings data on Thursday, October 24th. The medical device company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.02. The business had revenue of $994.20 million for the quarter, compared to analyst estimates of $991.55 million. DexCom had a return on equity of 31.41% and a net margin of 16.95%. On average, research analysts predict that DexCom will post 1.69 EPS for the current fiscal year.

Insider Transactions at DexCom

In other news, EVP Sadie Stern sold 426 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $69.15, for a total value of $29,457.90. Following the completion of the sale, the executive vice president now owns 75,451 shares in the company, valued at $5,217,436.65. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Michael Jon Brown sold 652 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $69.55, for a total transaction of $45,346.60. Following the completion of the transaction, the executive vice president now owns 66,249 shares of the company’s stock, valued at approximately $4,607,617.95. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Sadie Stern sold 426 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $69.15, for a total transaction of $29,457.90. Following the transaction, the executive vice president now owns 75,451 shares of the company’s stock, valued at $5,217,436.65. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,824 shares of company stock valued at $126,390 over the last ninety days. 0.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On DexCom

Several large investors have recently added to or reduced their stakes in DXCM. Canada Pension Plan Investment Board increased its holdings in shares of DexCom by 189.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 665,646 shares of the medical device company’s stock worth $75,471,000 after buying an additional 435,401 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in DexCom by 16.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,439,033 shares of the medical device company’s stock worth $276,538,000 after acquiring an additional 353,019 shares during the period. Assenagon Asset Management S.A. increased its position in DexCom by 53.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 989,740 shares of the medical device company’s stock valued at $66,352,000 after purchasing an additional 345,114 shares during the period. Bellevue Group AG boosted its position in DexCom by 33.5% during the 1st quarter. Bellevue Group AG now owns 1,221,197 shares of the medical device company’s stock valued at $169,380,000 after acquiring an additional 306,604 shares in the last quarter. Finally, Magnetar Financial LLC bought a new position in DexCom in the second quarter worth $31,793,000. 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.