Morgan Stanley Increases DexCom (NASDAQ:DXCM) Price Target to $428.00

DexCom (NASDAQ:DXCM) had its price target boosted by Morgan Stanley from $377.00 to $428.00 in a report released on Wednesday, BenzingaRatingsTable reports. The brokerage currently has an equal weight rating on the medical device company’s stock.

DXCM has been the topic of several other research reports. BidaskClub raised shares of DexCom from a buy rating to a strong-buy rating in a research report on Wednesday, July 22nd. SVB Leerink raised their target price on shares of DexCom from $465.00 to $485.00 and gave the stock an outperform rating in a report on Wednesday. Cowen raised their target price on shares of DexCom from $430.00 to $450.00 and gave the stock an outperform rating in a report on Tuesday, July 7th. Wells Fargo & Co initiated coverage on shares of DexCom in a report on Thursday, May 14th. They issued an equal weight rating and a $420.00 target price on the stock. Finally, Zacks Investment Research cut shares of DexCom from a buy rating to a hold rating and set a $430.00 target price on the stock. in a report on Monday, June 22nd. Seven research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $394.95.

Shares of DXCM stock opened at $435.54 on Wednesday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 5.41 and a current ratio of 7.58. DexCom has a one year low of $138.28 and a one year high of $446.50. The company’s 50-day simple moving average is $410.52 and its 200-day simple moving average is $325.07. The stock has a market capitalization of $41.70 billion, a price-to-earnings ratio of 198.88, a PEG ratio of 4.74 and a beta of 0.79.

DexCom (NASDAQ:DXCM) last issued its quarterly earnings results on Tuesday, July 28th. The medical device company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.31 by $0.48. DexCom had a net margin of 11.93% and a return on equity of 29.01%. The business had revenue of $451.80 million for the quarter, compared to analysts’ expectations of $415.21 million. During the same quarter last year, the company posted $0.08 earnings per share. The company’s quarterly revenue was up 34.3% compared to the same quarter last year. As a group, research analysts forecast that DexCom will post 2.45 EPS for the current year.

In other DexCom news, Director Steven R. Altman sold 2,000 shares of DexCom stock in a transaction on Friday, July 10th. The shares were sold at an average price of $437.50, for a total transaction of $875,000.00. Following the completion of the sale, the director now owns 806 shares of the company’s stock, valued at approximately $352,625. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Shelly Ramasamy Selvaraj sold 400 shares of DexCom stock in a transaction on Monday, May 11th. The shares were sold at an average price of $404.05, for a total transaction of $161,620.00. The disclosure for this sale can be found here. Insiders sold a total of 63,293 shares of company stock valued at $24,266,963 in the last ninety days. Company insiders own 0.69% of the company’s stock.

Large investors have recently modified their holdings of the business. Guggenheim Capital LLC raised its holdings in shares of DexCom by 14.8% during the 4th quarter. Guggenheim Capital LLC now owns 44,850 shares of the medical device company’s stock valued at $9,811,000 after purchasing an additional 5,769 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its holdings in shares of DexCom by 36.6% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 9,617 shares of the medical device company’s stock valued at $2,107,000 after purchasing an additional 2,576 shares in the last quarter. Standard Life Aberdeen plc raised its holdings in shares of DexCom by 1.0% during the 4th quarter. Standard Life Aberdeen plc now owns 12,193 shares of the medical device company’s stock valued at $2,667,000 after purchasing an additional 125 shares in the last quarter. Alliancebernstein L.P. raised its holdings in shares of DexCom by 1.5% during the 4th quarter. Alliancebernstein L.P. now owns 52,370 shares of the medical device company’s stock valued at $11,455,000 after purchasing an additional 762 shares in the last quarter. Finally, Profund Advisors LLC bought a new position in shares of DexCom during the 4th quarter valued at $317,000. 97.08% of the stock is owned by institutional investors.

DexCom Company Profile

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.

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Analyst Recommendations for DexCom (NASDAQ:DXCM)

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