Why DexCom Stock Dove by 5% Today
A notable price target cut from an analyst was followed by a dip in the price of (NASDAQ: DXCM) stock on Friday. Investors traded out of the specialty medical device maker, reducing its value by more than 5%. That was a far steeper decline than the 1.2% slide of the benchmark S 500 index.
Raymond James prognosticator Jayson Bedford was the person behind the chop. Before market open, he snipped his DexCom price target to $131 per share from its preceding level of $154. That was the bad news. The good news was that he maintained his strong buy recommendation on the healthcare stock.
Bedford isn't the only analyst who has trimmed his expectations on DexCom lately. Last week, Danielle Antalffy of UBS also lowered her price target significantly, reducing it to $138 from her previous $175. Like Bedford, she remained bullish on the stock, leaving her buy recommendation intact.
Source Fool.com
Dexcom Inc. Stock
With 53 Buy predictions and 2 Sell predictions Dexcom Inc. is one of the favorites of our community.
However, we have a potential of -3.1% for Dexcom Inc. as the target price of 75 € is below the current price of 77.4 €.
