DexCom, Inc. (DXCM) Earns “Overweight” Rating from Piper Jaffray Companies
DexCom, Inc. (NASDAQ:DXCM)‘s stock had its “overweight” rating reaffirmed by research analysts at Piper Jaffray Companies in a report released on Wednesday, The Fly reports. They presently have a $78.00 price objective on the medical device company’s stock, down from their prior price objective of $87.00. Piper Jaffray Companies’ price target would indicate a potential upside of 9.52% from the stock’s current price.
Several other equities analysts have also recently commented on the stock. Zacks Investment Research raised shares of DexCom from a “sell” rating to a “hold” rating in a research note on Monday. BidaskClub raised shares of DexCom from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 9th. BMO Capital Markets reaffirmed an “outperform” rating and set a $90.00 price objective (down previously from $105.00) on shares of DexCom in a research note on Tuesday, August 8th. TheStreet raised shares of DexCom from a “d” rating to a “c-” rating in a research note on Wednesday, August 2nd. Finally, Stephens reaffirmed an “overweight” rating and set a $83.00 price objective (down previously from $95.00) on shares of DexCom in a research note on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have assigned a buy rating to the stock. DexCom currently has an average rating of “Buy” and a consensus price target of $87.00.
Shares of DexCom (DXCM) opened at 71.22 on Wednesday. The firm’s market cap is $6.16 billion. The company’s 50 day moving average is $70.77 and its 200 day moving average is $74.98. DexCom has a 52-week low of $57.68 and a 52-week high of $96.38.
DexCom (NASDAQ:DXCM) last issued its quarterly earnings data on Tuesday, August 1st. The medical device company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.23) by $0.07. The company had revenue of $170.60 million during 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%. DexCom’s revenue for the quarter was up 24.3% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.24) earnings per share. Analysts anticipate that DexCom will post ($0.77) earnings per share for the current year.
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In other news, EVP Steven Robert Pacelli sold 1,450 shares of the company’s stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $78.19, for a total value of $113,375.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Richard Doubleday sold 3,182 shares of the company’s stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $68.29, for a total transaction of $217,298.78. Following the completion of the sale, the executive vice president now directly owns 72,395 shares of the company’s stock, valued at approximately $4,943,854.55. The disclosure for this sale can be found here. Insiders sold a total of 33,726 shares of company stock valued at $2,376,466 in the last ninety days. 1.70% of the stock is owned by corporate insiders.
Several large investors have recently made changes to their positions in DXCM. FMR LLC boosted its stake in shares of DexCom by 9.9% in the second quarter. FMR LLC now owns 10,824,306 shares of the medical device company’s stock worth $791,799,000 after buying an additional 978,898 shares during the period. Janus Henderson Group PLC boosted its stake in shares of DexCom by 101,699.8% in the second quarter. Janus Henderson Group PLC now owns 6,828,731 shares of the medical device company’s stock worth $499,522,000 after buying an additional 6,822,023 shares during the period. Vanguard Group Inc. boosted its stake in shares of DexCom by 3.4% in the second quarter. Vanguard Group Inc. now owns 6,821,102 shares of the medical device company’s stock worth $498,963,000 after buying an additional 224,808 shares during the period. Artisan Partners Limited Partnership boosted its stake in shares of DexCom by 6.3% in the fourth quarter. Artisan Partners Limited Partnership now owns 6,808,715 shares of the medical device company’s stock worth $406,480,000 after buying an additional 403,793 shares during the period. Finally, Baillie Gifford & Co. boosted its stake in shares of DexCom by 1.4% in the first quarter. Baillie Gifford & Co. now owns 6,212,889 shares of the medical device company’s stock worth $526,418,000 after buying an additional 84,085 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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