Morgan Stanley Cuts DexCom, Inc. (DXCM) Price Target to $52.00

DexCom, Inc. (NASDAQ:DXCM) had its price target trimmed by Morgan Stanley from $72.00 to $52.00 in a research note released on Friday. The brokerage currently has a neutral rating on the medical device company’s stock.

Other research analysts have also recently issued research reports about the company. Cowen and Company reaffirmed a buy rating and issued a $90.00 price target on shares of DexCom in a report on Friday, July 14th. BMO Capital Markets reaffirmed a buy rating and issued a $105.00 price target on shares of DexCom in a report on Thursday, July 13th. Piper Jaffray Companies reaffirmed a buy rating and issued a $78.00 price target on shares of DexCom in a report on Wednesday, July 12th. Oppenheimer Holdings, Inc. set a $92.00 price target on DexCom and gave the company a buy rating in a report on Wednesday, August 2nd. Finally, Canaccord Genuity reaffirmed a buy rating and issued a $90.00 price target on shares of DexCom in a report on Tuesday, August 22nd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the company. DexCom has an average rating of Buy and a consensus price target of $70.69.

DexCom (NASDAQ DXCM) traded up $0.58 during midday trading on Friday, hitting $49.70. The company’s stock had a trading volume of 691,037 shares, compared to its average volume of 1,677,125. The company has a debt-to-equity ratio of 0.84, a current ratio of 5.86 and a quick ratio of 5.50.

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In other news, EVP Andrew K. Balo sold 3,244 shares of the business’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $71.18, for a total transaction of $230,907.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Richard Doubleday sold 1,635 shares of the company’s stock in a transaction on Monday, October 23rd. The stock was sold at an average price of $44.82, for a total transaction of $73,280.70. Following the completion of the sale, the executive vice president now owns 65,049 shares of the company’s stock, valued at $2,915,496.18. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,208 shares of company stock worth $1,597,567. 1.70% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of DXCM. UBS Group AG boosted its holdings in DexCom by 11.1% in the first quarter. UBS Group AG now owns 20,317 shares of the medical device company’s stock worth $1,721,000 after purchasing an additional 2,038 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in DexCom by 3.1% in the first quarter. Schwab Charles Investment Management Inc. now owns 227,240 shares of the medical device company’s stock worth $19,255,000 after purchasing an additional 6,813 shares in the last quarter. State Street Corp boosted its holdings in DexCom by 1.9% in the first quarter. State Street Corp now owns 1,512,262 shares of the medical device company’s stock worth $128,127,000 after purchasing an additional 28,311 shares in the last quarter. AQR Capital Management LLC boosted its holdings in DexCom by 12.3% in the first quarter. AQR Capital Management LLC now owns 74,211 shares of the medical device company’s stock worth $6,288,000 after purchasing an additional 8,137 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ boosted its holdings in DexCom by 175.7% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 11,029 shares of the medical device company’s stock worth $934,000 after purchasing an additional 7,029 shares in the last quarter.

DexCom Company Profile

Dexcom, Inc (Dexcom) is a medical device company. The Company is focused on the design, development and commercialization of continuous glucose monitoring (CGM) systems for ambulatory use by people with diabetes and for use by healthcare providers. The Company’s products consist of DexCom G4 PLATINUM and DexCom G5 Mobile.

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