DexCom, Inc. (NASDAQ:DXCM) Stock Rating Reaffirmed by Cowen and Company
DexCom, Inc. (NASDAQ:DXCM)‘s stock had its “buy” rating restated by investment analysts at Cowen and Company in a research report issued to clients and investors on Friday. They currently have a $90.00 price target on the medical device company’s stock. Cowen and Company’s target price suggests a potential upside of 25.49% from the company’s previous close.
Several other research analysts have also recently issued reports on DXCM. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $87.00 price target on shares of DexCom in a report on Tuesday, April 4th. BTIG Research cut DexCom from a “buy” rating to a “neutral” rating in a report on Wednesday, May 3rd. Oppenheimer Holdings, Inc. set a $98.00 price target on DexCom and gave the company a “buy” rating in a report on Wednesday, May 3rd. Canaccord Genuity dropped their price target on DexCom from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Wednesday, May 3rd. Finally, B. Riley reaffirmed a “buy” rating and issued a $95.00 price target on shares of DexCom in a report on Tuesday, May 2nd. Five research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $90.00.
DexCom (DXCM) opened at 71.72 on Friday. DexCom has a 52 week low of $57.68 and a 52 week high of $96.38. The stock’s 50 day moving average price is $71.68 and its 200-day moving average price is $74.65. The stock’s market capitalization is $6.19 billion.
DexCom (NASDAQ:DXCM) last announced its earnings results on Tuesday, May 2nd. The medical device company reported ($0.49) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.55) by $0.06. DexCom had a negative return on equity of 32.94% and a negative net margin of 14.70%. The firm had revenue of $142.30 million for the quarter, compared to analysts’ expectations of $143.94 million. Equities research analysts expect that DexCom will post ($0.71) earnings per share for the current year.
In related news, CEO Kevin R. Sayer sold 6,000 shares of the company’s stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $71.86, for a total value of $431,160.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Steven Robert Pacelli sold 1,450 shares of the business’s stock in a transaction on Friday, June 23rd. The stock was sold at an average price of $78.19, for a total transaction of $113,375.50. The disclosure for this sale can be found here. Insiders sold 63,063 shares of company stock valued at $4,556,819 over the last quarter. 1.70% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DXCM. Eqis Capital Management Inc. raised its position in DexCom by 35.1% in the second quarter. Eqis Capital Management Inc. now owns 9,917 shares of the medical device company’s stock worth $725,000 after buying an additional 2,578 shares in the last quarter. Mn Services Vermogensbeheer B.V. raised its position in DexCom by 508.8% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 13,722 shares of the medical device company’s stock worth $1,004,000 after buying an additional 11,468 shares in the last quarter. Chevy Chase Trust Holdings Inc. raised its position in DexCom by 10.4% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 46,889 shares of the medical device company’s stock worth $3,430,000 after buying an additional 4,399 shares in the last quarter. Bank of Montreal Can raised its position in DexCom by 69.2% in the second quarter. Bank of Montreal Can now owns 31,403 shares of the medical device company’s stock worth $2,296,000 after buying an additional 12,847 shares in the last quarter. Finally, Fox Run Management L.L.C. purchased a new position in DexCom during the second quarter worth $322,000.
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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