DexCom (NASDAQ:DXCM) Given New $91.00 Price Target at Citigroup

DexCom (NASDAQ:DXCM) had its price objective upped by stock analysts at Citigroup from $85.00 to $91.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the medical device company’s stock. Citigroup’s price objective would suggest a potential upside of 13.11% from the stock’s current price.

Several other brokerages also recently weighed in on DXCM. Royal Bank of Canada reduced their target price on shares of DexCom from $120.00 to $115.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Raymond James reduced their target price on shares of DexCom from $115.00 to $99.00 and set a “strong-buy” rating on the stock in a research note on Friday, October 25th. Stifel Nicolaus upped their price target on shares of DexCom from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. StockNews.com cut shares of DexCom from a “buy” rating to a “hold” rating in a report on Saturday, November 2nd. Finally, JPMorgan Chase & Co. upped their price target on shares of DexCom from $75.00 to $85.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Seven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, DexCom currently has an average rating of “Moderate Buy” and an average target price of $98.00.

DexCom Trading Up 1.3 %

Shares of DXCM traded up $1.04 during midday trading on Wednesday, hitting $80.45. The stock had a trading volume of 1,081,209 shares, compared to its average volume of 3,883,230. DexCom has a 1 year low of $62.34 and a 1 year high of $142.00. The firm has a market cap of $31.42 billion, a PE ratio of 48.17, a price-to-earnings-growth ratio of 2.38 and a beta of 1.12. The company has a debt-to-equity ratio of 1.23, a current ratio of 2.46 and a quick ratio of 2.12. The stock’s 50 day moving average is $72.77 and its 200 day moving average is $85.41.

Insiders Place Their Bets

In other news, EVP Sadie Stern sold 4,259 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $74.73, for a total value of $318,275.07. Following the sale, the executive vice president now directly owns 71,192 shares in the company, valued at approximately $5,320,178.16. This trade represents a 5.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.30% of the stock is owned by company insiders.

Institutional Trading of DexCom

A number of institutional investors have recently modified their holdings of the company. Geode Capital Management LLC boosted its holdings in shares of DexCom by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 9,937,604 shares of the medical device company’s stock valued at $664,056,000 after buying an additional 214,136 shares in the last quarter. Jennison Associates LLC raised its position in shares of DexCom by 1,683.2% in the 3rd quarter. Jennison Associates LLC now owns 6,932,899 shares of the medical device company’s stock valued at $464,782,000 after purchasing an additional 6,544,102 shares during the last quarter. Legal & General Group Plc raised its position in shares of DexCom by 1.7% in the 2nd quarter. Legal & General Group Plc now owns 2,993,049 shares of the medical device company’s stock valued at $339,352,000 after purchasing an additional 49,076 shares during the last quarter. Groupama Asset Managment raised its position in shares of DexCom by 1.1% in the 3rd quarter. Groupama Asset Managment now owns 2,851,556 shares of the medical device company’s stock valued at $1,912,000 after purchasing an additional 31,358 shares during the last quarter. Finally, Westfield Capital Management Co. LP raised its position in shares of DexCom by 44.6% in the 3rd quarter. Westfield Capital Management Co. LP now owns 2,842,057 shares of the medical device company’s stock valued at $190,532,000 after purchasing an additional 876,739 shares during the last quarter. 97.75% of the stock is currently owned by 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 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.