Wells Fargo & Company Raises DexCom (NASDAQ:DXCM) Price Target to $94.00

DexCom (NASDAQ:DXCM) had its price objective boosted by equities researchers at Wells Fargo & Company from $90.00 to $94.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the medical device company’s stock. Wells Fargo & Company‘s price target points to a potential upside of 19.09% from the stock’s previous close.

Several other equities research analysts have also commented on the stock. StockNews.com lowered shares of DexCom from a “buy” rating to a “hold” rating in a research note on Saturday, November 2nd. Piper Sandler restated an “overweight” rating and issued a $90.00 target price on shares of DexCom in a research report on Monday, August 26th. Sanford C. Bernstein boosted their price target on DexCom from $82.00 to $86.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Stifel Nicolaus increased their price target on DexCom from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Finally, Leerink Partners cut their price objective on shares of DexCom from $90.00 to $87.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Seven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $98.00.

DexCom Stock Down 1.9 %

DexCom stock opened at $78.93 on Wednesday. The firm has a market capitalization of $30.83 billion, a P/E ratio of 47.26, a P/E/G ratio of 2.38 and a beta of 1.12. The company has a 50-day simple moving average of $73.58 and a 200-day simple moving average of $84.99. DexCom has a one year low of $62.34 and a one year high of $142.00. The company has a debt-to-equity ratio of 1.23, a quick ratio of 2.12 and a current ratio of 2.46.

Insider Buying and Selling

In other news, EVP Sadie Stern sold 4,259 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $74.73, for a total transaction of $318,275.07. Following the completion of the sale, the executive vice president now directly owns 71,192 shares of the company’s stock, valued at $5,320,178.16. This represents a 5.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.30% of the stock is currently owned by insiders.

Institutional Trading of DexCom

Institutional investors and hedge funds have recently bought and sold shares of the stock. Blue Whale Capital LLP increased its position in shares of DexCom by 91.9% in the third quarter. Blue Whale Capital LLP now owns 236,000 shares of the medical device company’s stock worth $15,821,000 after acquiring an additional 113,000 shares in the last quarter. Taylor Frigon Capital Management LLC grew its position in DexCom by 51.6% during the 3rd quarter. Taylor Frigon Capital Management LLC now owns 32,554 shares of the medical device company’s stock worth $2,182,000 after purchasing an additional 11,075 shares in the last quarter. Brooktree Capital Management acquired a new stake in DexCom during the 3rd quarter valued at $683,000. National Pension Service lifted its holdings in shares of DexCom by 4.1% in the third quarter. National Pension Service now owns 949,743 shares of the medical device company’s stock valued at $63,671,000 after purchasing an additional 37,363 shares in the last quarter. Finally, Intact Investment Management Inc. purchased a new stake in shares of DexCom in the third quarter valued at $650,000. Institutional investors and hedge funds 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.