DexCom, Inc. (DXCM) Upgraded to “Buy” at BidaskClub
DexCom, Inc. (NASDAQ:DXCM) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday.
A number of other brokerages have also recently issued reports on DXCM. B. Riley reiterated a “buy” rating and set a $95.00 target price on shares of DexCom in a research report on Thursday, April 27th. Oppenheimer Holdings, Inc. set a $98.00 price objective on shares of DexCom and gave the company a “buy” rating in a research report on Wednesday, March 1st. Northcoast Research restated a “buy” rating on shares of DexCom in a research report on Wednesday, March 1st. BTIG Research cut shares of DexCom from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 3rd. Finally, William Blair restated an “outperform” rating on shares of DexCom in a research report on Thursday, April 27th. Four research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $90.44.
Shares of DexCom (NASDAQ:DXCM) traded up 0.63% during trading on Wednesday, hitting $78.33. The company’s stock had a trading volume of 991,293 shares. DexCom has a 52 week low of $57.68 and a 52 week high of $96.38. The firm’s 50 day moving average price is $71.34 and its 200-day moving average price is $74.18. The company’s market cap is $6.77 billion.
DexCom (NASDAQ:DXCM) last announced its earnings results on Tuesday, May 2nd. The medical device company reported ($0.49) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.06. The business had revenue of $142.30 million during the quarter, compared to analysts’ expectations of $143.94 million. DexCom had a negative net margin of 14.70% and a negative return on equity of 32.94%. On average, analysts predict that DexCom will post ($0.70) earnings per share for the current year.
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In related news, insider Terrance H. Gregg sold 15,000 shares of DexCom stock in a transaction that occurred on Thursday, April 20th. The shares were sold at an average price of $74.10, for a total transaction of $1,111,500.00. Following the transaction, the insider now owns 454,559 shares of the company’s stock, valued at approximately $33,682,821.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kevin R. Sayer sold 10,000 shares of DexCom stock in a transaction that occurred on Monday, April 17th. The stock was sold at an average price of $75.63, for a total transaction of $756,300.00. Following the transaction, the chief executive officer now directly owns 353,680 shares in the company, valued at approximately $26,748,818.40. The disclosure for this sale can be found here. Insiders have sold a total of 58,795 shares of company stock worth $4,276,573 in the last three months. 1.70% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in DXCM. Russell Investments Group Ltd. bought a new position in shares of DexCom during the fourth quarter worth $8,315,000. State Board of Administration of Florida Retirement System raised its position in shares of DexCom by 5.8% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 119,372 shares of the medical device company’s stock worth $7,127,000 after buying an additional 6,558 shares during the last quarter. Comerica Bank raised its position in shares of DexCom by 64.2% in the fourth quarter. Comerica Bank now owns 24,293 shares of the medical device company’s stock worth $2,068,000 after buying an additional 9,498 shares during the last quarter. State Street Corp raised its position in shares of DexCom by 39.7% in the fourth quarter. State Street Corp now owns 1,483,951 shares of the medical device company’s stock worth $88,624,000 after buying an additional 421,903 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. raised its position in shares of DexCom by 7.8% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 17,937 shares of the medical device company’s stock worth $1,071,000 after buying an additional 1,300 shares during the last quarter.
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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