BTIG Research cut shares of DexCom Inc. (NASDAQ:DXCM) from a buy rating to a neutral rating in a research report released on Wednesday morning. They currently have $92.00 price target on the medical device company’s stock.
Other equities research analysts have also recently issued reports about the stock. JPMorgan Chase & Co. reaffirmed a buy rating and issued a $100.00 target price on shares of DexCom in a report on Wednesday, August 3rd. Jefferies Group reaffirmed a buy rating and issued a $98.00 target price on shares of DexCom in a report on Wednesday, August 3rd. Benchmark Co. dropped their target price on shares of DexCom from $106.00 to $86.00 and set a buy rating on the stock in a report on Wednesday, August 3rd. Deutsche Bank AG upped their target price on shares of DexCom from $90.00 to $98.00 and gave the company a buy rating in a report on Friday, July 15th. Finally, Canaccord Genuity reaffirmed a buy rating and issued a $95.00 target price on shares of DexCom in a report on Wednesday, July 13th. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. DexCom currently has an average rating of Buy and a consensus target price of $94.96.
Shares of DexCom (NASDAQ:DXCM) opened at 93.06 on Wednesday. The firm’s market capitalization is $7.81 billion. DexCom has a 12-month low of $47.92 and a 12-month high of $103.29. The firm’s 50-day moving average price is $91.35 and its 200-day moving average price is $74.57.
DexCom (NASDAQ:DXCM) last issued its earnings results on Tuesday, August 2nd. The medical device company reported ($0.24) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.12) by $0.12. The firm earned $137.30 million during the quarter, compared to the consensus estimate of $132.48 million. DexCom had a negative net margin of 16.42% and a negative return on equity of 19.68%. The firm’s revenue for the quarter was up 47.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.05) earnings per share. Equities analysts predict that DexCom will post ($0.57) earnings per share for the current fiscal year.
In other DexCom news, insider Terrance H. Gregg sold 35,000 shares of the firm’s stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $79.81, for a total value of $2,793,350.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Andrew K. Balo sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 29th. The shares were sold at an average price of $78.10, for a total transaction of $390,500.00. Following the completion of the sale, the executive vice president now owns 134,979 shares in the company, valued at approximately $10,541,859.90. The disclosure for this sale can be found here. Corporate insiders own 2.80% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. Bellwether Investment Group LLC bought a new stake in shares of DexCom during the second quarter worth $119,000. Bank of Montreal Can bought a new stake in shares of DexCom during the second quarter worth $134,000. CIBC Asset Management Inc bought a new stake in shares of DexCom during the second quarter worth $211,000. ProShare Advisors LLC bought a new stake in shares of DexCom during the second quarter worth $219,000. Finally, Suntrust Banks Inc. bought a new stake in shares of DexCom during the second quarter worth $230,000. Hedge funds and other institutional investors own 99.50% of the company’s stock.
Dexcom, Inc (Dexcom) is a medical device company. The Company is focused on the design, development and commercialization of continuous glucose monitoring systems for ambulatory use by people with diabetes and for use by healthcare providers for the treatment of people with and without diabetes. Its products include SEVEN PLUS, DexCom G4, DexCom G4 PLATINUM, DexCom Share System and DexCom G5 Mobile.
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