Citigroup Increases DexCom (NASDAQ:DXCM) Price Target to $485.00

DexCom (NASDAQ:DXCM) had its price target upped by Citigroup from $440.00 to $485.00 in a research report sent to investors on Wednesday, The Fly reports. They currently have a buy rating on the medical device company’s stock.

A number of other research analysts have also commented on DXCM. Morgan Stanley upped their price target on DexCom from $278.00 to $377.00 and gave the company an equal weight rating in a research report on Wednesday, April 29th. Guggenheim upped their target price on DexCom from $385.00 to $395.00 and gave the stock a buy rating in a report on Wednesday, April 29th. Cowen upped their target price on DexCom from $430.00 to $450.00 and gave the stock an outperform rating in a report on Tuesday, July 7th. Stifel Nicolaus upped their target price on DexCom from $270.00 to $385.00 and gave the stock a buy rating in a report on Wednesday, April 29th. Finally, BTIG Research reiterated a hold rating on shares of DexCom in a report on Wednesday, April 29th. Seven equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. DexCom currently has an average rating of Buy and an average target price of $394.95.

Shares of NASDAQ DXCM traded up $4.18 during midday trading on Wednesday, reaching $435.54. The company had a trading volume of 865,127 shares, compared to its average volume of 922,371. DexCom has a one year low of $138.28 and a one year high of $446.50. The company has a quick ratio of 5.41, a current ratio of 7.58 and a debt-to-equity ratio of 1.28. The firm’s fifty day moving average price is $410.52 and its 200-day moving average price is $325.07. The stock has a market cap of $41.70 billion, a PE ratio of 198.88, a price-to-earnings-growth ratio of 4.70 and a beta of 0.79.

DexCom (NASDAQ:DXCM) last released its quarterly earnings results on Tuesday, July 28th. The medical device company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.48. The business had revenue of $451.80 million during the quarter, compared to analyst estimates of $415.21 million. DexCom had a return on equity of 29.01% and a net margin of 11.93%. DexCom’s quarterly revenue was up 34.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.08 EPS. As a group, equities research analysts expect that DexCom will post 2.43 EPS for the current year.

In related news, EVP Steven Robert Pacelli sold 1,531 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $396.74, for a total value of $607,408.94. Following the transaction, the executive vice president now directly owns 51,482 shares of the company’s stock, valued at approximately $20,424,968.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Shelly Ramasamy Selvaraj sold 400 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $404.05, for a total value of $161,620.00. The disclosure for this sale can be found here. Insiders sold a total of 63,293 shares of company stock worth $24,266,963 in the last 90 days. 0.69% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cognios Capital LLC bought a new position in DexCom in the 1st quarter worth $26,000. Weaver Consulting Group bought a new position in DexCom in the 1st quarter worth $27,000. Nvwm LLC bought a new position in DexCom in the 1st quarter worth $27,000. Flagship Harbor Advisors LLC raised its holdings in DexCom by 214.3% in the 1st quarter. Flagship Harbor Advisors LLC now owns 110 shares of the medical device company’s stock worth $30,000 after purchasing an additional 75 shares during the period. Finally, Salomon & Ludwin LLC bought a new position in DexCom in the 1st quarter worth $35,000. 97.08% of the stock is currently owned by hedge funds and other institutional investors.

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 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.

See Also: Moving Average – How it Helps Investors in Stock Selection

The Fly

Analyst Recommendations for DexCom (NASDAQ:DXCM)

Receive News & Ratings for DexCom Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DexCom and related companies with MarketBeat.com's FREE daily email newsletter.