Merrill Lynch Believes Dexcom (NASDAQ: DXCM) Won’t Stop Here

By Ryan Adsit

In a report released today, Travis Steed from Merrill Lynch maintained a Buy rating on Dexcom (NASDAQ: DXCM), with a price target of $127. The company’s shares opened today at $119.40, close to its 52-week high of $123.48.

Steed has an average return of 9.9% when recommending Dexcom.

According to TipRanks.com, Steed is ranked #459 out of 4839 analysts.

Currently, the analyst consensus on Dexcom is a Strong Buy with an average price target of $120.36, implying a 0.8% upside from current levels. In a report released yesterday, Piper Jaffray also maintained a Buy rating on the stock with a $150 price target.

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The company has a one-year high of $123.48 and a one-year low of $42.62. Currently, Dexcom has an average volume of 976.1K.

Based on the recent corporate insider activity of 87 insiders, corporate insider sentiment is negative on the stock. Most recently, in May 2018, Jay Skyler, a Director at DXCM sold 30,000 shares for a total of $2,640,000.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

DexCom, Inc. is a medical device manufacturing company, which engages in the design, development, and commercialization of continuous glucose monitoring systems for ambulatory use by people with diabetes. Its products include Dexcom G4 PLATINUM System, Dexcom studio and Mobile apps.