DexCom, Inc. (DXCM) Receives “Overweight” Rating from Piper Jaffray Companies
DexCom, Inc. (NASDAQ:DXCM)‘s stock had its “overweight” rating restated by equities research analysts at Piper Jaffray Companies in a report issued on Friday. They currently have a $87.00 price objective on the medical device company’s stock. Piper Jaffray Companies’ price objective would indicate a potential upside of 22.09% from the stock’s previous close.
A number of other equities analysts also recently weighed in on the stock. Canaccord Genuity reissued a “buy” rating and issued a $90.00 price target on shares of DexCom in a report on Wednesday, June 7th. BidaskClub raised shares of DexCom from a “sell” rating to a “hold” rating in a report on Thursday, June 15th. BMO Capital Markets reissued a “buy” rating and issued a $105.00 price target on shares of DexCom in a report on Thursday, July 13th. Cowen and Company reissued a “buy” rating and issued a $90.00 price target on shares of DexCom in a report on Friday, July 14th. Finally, Zacks Investment Research raised shares of DexCom from a “sell” rating to a “hold” rating in a report on Tuesday, July 18th. Six investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. DexCom has an average rating of “Buy” and a consensus target price of $87.64.
Shares of DexCom (NASDAQ DXCM) traded up 0.04% during trading on Friday, hitting $71.26. 1,231,920 shares of the stock traded hands. The stock’s market cap is $6.17 billion. DexCom has a 1-year low of $57.68 and a 1-year high of $95.40. The stock has a 50 day moving average price of $71.87 and a 200-day moving average price of $74.35.
DexCom (NASDAQ:DXCM) last posted its quarterly earnings data on Tuesday, August 1st. The medical device company reported ($0.16) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.23) by $0.07. The firm had revenue of $170.60 million for the quarter, compared to the consensus estimate 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 revenue for the quarter was up 24.3% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.24) EPS. Equities analysts forecast that DexCom will post ($0.77) EPS for the current year.
In related news, EVP Andrew K. Balo sold 3,200 shares of the company’s stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $69.06, for a total value of $220,992.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Steven Robert Pacelli sold 1,450 shares of the company’s stock in a transaction that occurred 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. Over the last 90 days, insiders sold 32,179 shares of company stock worth $2,282,217. 1.70% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of the stock. Verition Fund Management LLC bought a new position in shares of DexCom in the second quarter worth approximately $528,000. Nomura Holdings Inc. bought a new position in shares of DexCom in the second quarter worth approximately $262,000. DF Dent & Co. Inc. increased its position in shares of DexCom by 46.2% in the second quarter. DF Dent & Co. Inc. now owns 14,094 shares of the medical device company’s stock worth $1,031,000 after purchasing an additional 4,455 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of DexCom by 302.0% in the second quarter. Tower Research Capital LLC TRC now owns 5,310 shares of the medical device company’s stock worth $388,000 after purchasing an additional 3,989 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of DexCom by 12.2% in the second quarter. The Manufacturers Life Insurance Company now owns 3,254 shares of the medical device company’s stock worth $238,000 after purchasing an additional 354 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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