Royal Bank Of Canada Cuts DexCom (NASDAQ:DXCM) Price Target to $85.00

DexCom (NASDAQ:DXCM) had its target price lowered by Royal Bank Of Canada from $100.00 to $85.00 in a research report report published on Friday, MarketBeat Ratings reports. The firm currently has an outperform rating on the medical device company’s stock.

A number of other brokerages also recently weighed in on DXCM. Wall Street Zen downgraded shares of DexCom from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 10th. Cowen reissued a “buy” rating on shares of DexCom in a report on Friday, October 24th. Argus started coverage on shares of DexCom in a report on Thursday, August 21st. They issued a “buy” rating and a $100.00 price target for the company. William Blair raised shares of DexCom to a “strong-buy” rating in a report on Thursday, July 31st. Finally, UBS Group upped their price target on shares of DexCom from $105.00 to $106.00 and gave the company a “buy” rating in a report on Thursday, July 31st. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $91.65.

DexCom Stock Performance

Shares of DXCM opened at $58.22 on Friday. The firm has a 50-day moving average price of $70.94 and a 200 day moving average price of $78.02. The firm has a market capitalization of $22.83 billion, a PE ratio of 40.43, a P/E/G ratio of 1.43 and a beta of 1.47. The company has a quick ratio of 1.35, a current ratio of 1.52 and a debt-to-equity ratio of 0.48. DexCom has a 52-week low of $56.44 and a 52-week high of $93.25.

DexCom (NASDAQ:DXCM) last announced its earnings results on Thursday, October 30th. The medical device company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. DexCom had a net margin of 13.29% and a return on equity of 30.41%. The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same quarter in the prior year, the firm posted $0.45 EPS. DexCom’s revenue was up 21.6% compared to the same quarter last year. DexCom has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that DexCom will post 2.03 earnings per share for the current fiscal year.

Insider Activity

In other DexCom news, Director Kyle Malady sold 667 shares of the company’s stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $80.86, for a total transaction of $53,933.62. Following the completion of the sale, the director directly owned 22,667 shares of the company’s stock, valued at approximately $1,832,853.62. This represents a 2.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Sadie Stern sold 1,466 shares of the company’s stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $80.00, for a total transaction of $117,280.00. Following the sale, the executive vice president directly owned 105,223 shares of the company’s stock, valued at $8,417,840. This represents a 1.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 5,383 shares of company stock valued at $434,274 over the last ninety days. Corporate insiders own 0.32% of the company’s stock.

Institutional Trading of DexCom

A number of hedge funds have recently bought and sold shares of the company. Andra AP fonden purchased a new stake in shares of DexCom in the second quarter worth approximately $26,000. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of DexCom in the second quarter worth approximately $26,000. SJS Investment Consulting Inc. lifted its position in shares of DexCom by 4,800.0% in the third quarter. SJS Investment Consulting Inc. now owns 392 shares of the medical device company’s stock worth $26,000 after purchasing an additional 384 shares in the last quarter. Golden State Wealth Management LLC lifted its position in shares of DexCom by 211.2% in the first quarter. Golden State Wealth Management LLC now owns 389 shares of the medical device company’s stock worth $27,000 after purchasing an additional 264 shares in the last quarter. Finally, Zions Bancorporation National Association UT purchased a new stake in shares of DexCom in the first quarter worth approximately $27,000. 97.75% of the stock is 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 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.