BMO Capital Markets Reaffirms Buy Rating for DexCom, Inc. (DXCM)
DexCom, Inc. (NASDAQ:DXCM)‘s stock had its “buy” rating reissued by equities researchers at BMO Capital Markets in a note issued to investors on Friday. They presently have a $90.00 price target on the medical device company’s stock. BMO Capital Markets’ target price would suggest a potential upside of 26.30% from the company’s previous close.
A number of other equities analysts also recently weighed in on the company. BidaskClub upgraded DexCom from a “hold” rating to a “buy” rating in a report on Wednesday, June 21st. Cowen and Company reiterated a “buy” rating and issued a $90.00 target price on shares of DexCom in a report on Friday, July 14th. Piper Jaffray Companies reiterated an “overweight” rating and issued a $78.00 target price on shares of DexCom in a report on Monday, May 22nd. TheStreet upgraded DexCom from a “d” rating to a “c-” rating in a report on Wednesday, August 2nd. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $90.00 target price on shares of DexCom in a report on Tuesday, August 22nd. Six equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $87.64.
Shares of DexCom (NASDAQ:DXCM) opened at 71.26 on Friday. DexCom has a 52-week low of $57.68 and a 52-week high of $94.79. The company has a 50 day moving average of $71.90 and a 200 day moving average of $74.32. The firm’s market capitalization is $6.17 billion.
DexCom (NASDAQ:DXCM) last issued its earnings results on Tuesday, August 1st. The medical device company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.07. The company had revenue of $170.60 million for the quarter, compared to the consensus estimate of $166.54 million. DexCom had a negative return on equity of 27.90% and a negative net margin of 10.27%. The firm’s quarterly revenue was up 24.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.24) EPS. On average, analysts anticipate that DexCom will post ($0.77) earnings per share for the current fiscal year.
In other DexCom news, EVP Andrew K. Balo sold 3,200 shares of the company’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $69.06, for a total transaction of $220,992.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Richard Doubleday sold 1,635 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $75.26, for a total value of $123,050.10. Following the sale, the executive vice president now directly owns 72,395 shares of the company’s stock, valued at approximately $5,448,447.70. The disclosure for this sale can be found here. Insiders have sold 32,179 shares of company stock valued at $2,282,217 in the last ninety days. Company insiders own 1.70% of the company’s stock.
A number of institutional investors have recently made changes to their positions in DXCM. Janus Henderson Group PLC boosted its position in DexCom by 101,699.8% during 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 purchasing an additional 6,822,023 shares during the period. BlackRock Inc. boosted its position in DexCom by 5,000.4% during the first quarter. BlackRock Inc. now owns 4,160,862 shares of the medical device company’s stock worth $352,550,000 after purchasing an additional 4,079,283 shares during the period. Winslow Capital Management LLC bought a new stake in DexCom during the second quarter worth approximately $117,451,000. FMR LLC boosted its position in DexCom by 9.9% during the second quarter. FMR LLC now owns 10,824,306 shares of the medical device company’s stock worth $791,799,000 after purchasing an additional 978,898 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in DexCom by 27.3% during the second quarter. Bank of New York Mellon Corp now owns 3,242,928 shares of the medical device company’s stock worth $237,221,000 after purchasing an additional 696,199 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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