Citigroup Forecasts Strong Price Appreciation for DexCom (NASDAQ:DXCM) Stock

DexCom (NASDAQ:DXCM) had its price objective upped by Citigroup from $101.00 to $104.00 in a research report released on Tuesday morning,Benzinga reports. Citigroup currently has a buy rating on the medical device company’s stock.

DXCM has been the subject of several other research reports. Canaccord Genuity Group raised their price objective on shares of DexCom from $99.00 to $103.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Baird R W raised shares of DexCom from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 16th. Robert W. Baird raised shares of DexCom from a “neutral” rating to an “outperform” rating and raised their target price for the company from $86.00 to $104.00 in a report on Thursday, January 16th. Redburn Atlantic raised shares of DexCom from a “neutral” rating to a “buy” rating and raised their target price for the company from $85.00 to $115.00 in a report on Monday, February 3rd. Finally, Wells Fargo & Company raised their target price on shares of DexCom from $90.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, DexCom currently has an average rating of “Moderate Buy” and an average price target of $99.82.

DexCom Trading Down 3.0 %

NASDAQ DXCM opened at $79.51 on Tuesday. The firm has a 50 day simple moving average of $84.88 and a 200-day simple moving average of $76.96. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.28 and a current ratio of 1.47. DexCom has a one year low of $62.34 and a one year high of $142.00. The firm has a market cap of $31.07 billion, a price-to-earnings ratio of 55.60, a PEG ratio of 2.30 and a beta of 1.14.

DexCom (NASDAQ:DXCM) last posted its quarterly earnings data on Thursday, February 13th. The medical device company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.05). DexCom had a net margin of 14.29% and a return on equity of 30.14%. Equities research analysts anticipate that DexCom will post 2.03 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Kevin R. Sayer sold 33,359 shares of DexCom stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $86.91, for a total value of $2,899,230.69. Following the transaction, the chief executive officer now directly owns 319,037 shares of the company’s stock, valued at $27,727,505.67. The trade was a 9.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Jereme M. Sylvain sold 2,090 shares of DexCom stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $86.91, for a total transaction of $181,641.90. Following the completion of the transaction, the executive vice president now directly owns 83,526 shares in the company, valued at $7,259,244.66. The trade was a 2.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,083 shares of company stock valued at $3,309,794. 0.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On DexCom

A number of institutional investors have recently modified their holdings of DXCM. Versant Capital Management Inc acquired a new position in shares of DexCom in the 4th quarter valued at $25,000. Private Trust Co. NA grew its position in DexCom by 266.3% in the 4th quarter. Private Trust Co. NA now owns 337 shares of the medical device company’s stock valued at $26,000 after buying an additional 245 shares during the last quarter. Optiver Holding B.V. purchased a new position in DexCom in the 4th quarter valued at $33,000. TD Private Client Wealth LLC grew its position in DexCom by 62.8% in the 4th quarter. TD Private Client Wealth LLC now owns 433 shares of the medical device company’s stock valued at $34,000 after buying an additional 167 shares during the last quarter. Finally, Larson Financial Group LLC grew its position in DexCom by 40.5% in the 4th quarter. Larson Financial Group LLC now owns 475 shares of the medical device company’s stock valued at $37,000 after buying an additional 137 shares during the last quarter. 97.75% of the stock is owned by institutional investors and hedge funds.

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.