DexCom, Inc. (NASDAQ:DXCM) Rating Reiterated by BMO Capital Markets
DexCom, Inc. (NASDAQ:DXCM)‘s stock had its “outperform” rating reaffirmed by analysts at BMO Capital Markets in a report released on Tuesday. They currently have a $90.00 target price on the medical device company’s stock, down from their previous target price of $105.00. BMO Capital Markets’ price objective suggests a potential upside of 26.21% from the stock’s previous close.
DXCM has been the topic of several other research reports. Jefferies Group LLC lowered their price objective on shares of DexCom to $91.00 and set a “buy” rating on the stock in a research report on Tuesday, May 9th. Canaccord Genuity restated a “buy” rating and set a $90.00 price objective on shares of DexCom in a research report on Wednesday, June 7th. Zacks Investment Research upgraded shares of DexCom from a “sell” rating to a “hold” rating in a research report on Tuesday, July 18th. BidaskClub cut shares of DexCom from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. Finally, Cowen and Company restated a “buy” rating and set a $90.00 price objective on shares of DexCom in a research report on Friday, July 14th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and fifteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $87.00.
DexCom (NASDAQ DXCM) remained flat at $71.31 during midday trading on Tuesday. 1,057,393 shares of the company traded hands. DexCom has a one year low of $57.68 and a one year high of $96.38. The stock’s market capitalization is $6.17 billion. The company has a 50-day moving average price of $72.14 and a 200-day moving average price of $75.59.
DexCom (NASDAQ:DXCM) last posted its quarterly earnings data on Tuesday, August 1st. The medical device company reported ($0.16) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.23) by $0.07. The firm had revenue of $170.60 million for the quarter, compared to analysts’ expectations of $166.54 million. DexCom had a negative net margin of 10.27% and a negative return on equity of 27.90%. The business’s quarterly revenue was up 24.3% on a year-over-year basis. During the same quarter last year, the company posted ($0.24) EPS. On average, analysts forecast that DexCom will post ($0.77) earnings per share for the current year.
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In other DexCom news, EVP Andrew K. Balo sold 3,200 shares of the firm’s stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $71.93, for a total value of $230,176.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Steven Robert Pacelli sold 1,450 shares of the firm’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $69.47, for a total transaction of $100,731.50. The disclosure for this sale can be found here. In the last three months, insiders sold 36,331 shares of company stock worth $2,548,619. Insiders own 1.70% of the company’s stock.
A number of large investors have recently made changes to their positions in DXCM. BlackRock Inc. raised its stake in shares of DexCom by 5,000.4% in the first quarter. BlackRock Inc. now owns 4,160,862 shares of the medical device company’s stock worth $352,550,000 after buying an additional 4,079,283 shares during the period. Bank of New York Mellon Corp raised its stake in shares of DexCom by 304.3% in the first quarter. Bank of New York Mellon Corp now owns 2,546,729 shares of the medical device company’s stock worth $215,785,000 after buying an additional 1,916,759 shares during the period. FMR LLC raised its stake in shares of DexCom by 9.1% in the first quarter. FMR LLC now owns 9,845,408 shares of the medical device company’s stock worth $834,201,000 after buying an additional 823,406 shares during the period. Janus Capital Management LLC raised its stake in shares of DexCom by 12.2% in the first quarter. Janus Capital Management LLC now owns 4,001,971 shares of the medical device company’s stock worth $339,083,000 after buying an additional 436,162 shares during the period. Finally, Morgan Stanley raised its stake in shares of DexCom by 18.0% in the first quarter. Morgan Stanley now owns 2,092,962 shares of the medical device company’s stock worth $177,336,000 after buying an additional 319,631 shares during the period.
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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