Wedbush Reiterates “Buy” Rating for DexCom, Inc. (DXCM)
DexCom, Inc. (NASDAQ:DXCM)‘s stock had its “buy” rating reissued by equities research analysts at Wedbush in a report released on Wednesday. They presently have a $76.00 price objective on the medical device company’s stock. Wedbush’s target price points to a potential upside of 58.00% from the stock’s previous close.
Several other research firms have also issued reports on DXCM. BMO Capital Markets reissued an “outperform” rating and issued a $90.00 target price (down from $105.00) on shares of DexCom in a report on Wednesday, August 2nd. Northland Securities assumed coverage on shares of DexCom in a report on Tuesday, September 26th. They issued an “outperform” rating and a $85.00 target price for the company. BidaskClub raised shares of DexCom from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 9th. Piper Jaffray Companies reissued a “buy” rating and issued a $87.00 target price on shares of DexCom in a report on Thursday, September 28th. Finally, Leerink Swann reissued a “buy” rating and issued a $57.00 target price (down from $85.00) on shares of DexCom in a report on Friday, September 29th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and fourteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $72.19.
DexCom (NASDAQ DXCM) traded up 1.95% during trading on Wednesday, hitting $48.10. 3,834,847 shares of the stock were exchanged. The firm’s market capitalization is $4.16 billion. The company has a 50-day moving average price of $69.11 and a 200 day moving average price of $72.43. DexCom has a 1-year low of $42.62 and a 1-year high of $88.80.
DexCom (NASDAQ:DXCM) last released its quarterly earnings results on Tuesday, August 1st. The medical device company reported ($0.16) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.23) by $0.07. DexCom had a negative net margin of 10.27% and a negative return on equity of 27.90%. The firm had revenue of $170.60 million during the quarter, compared to analyst estimates of $166.54 million. During the same quarter in the prior year, the firm earned ($0.24) EPS. The business’s revenue for the quarter was up 24.3% compared to the same quarter last year. Equities analysts predict that DexCom will post ($0.80) earnings per share for the current fiscal year.
In other news, EVP Richard Doubleday sold 1,635 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $75.26, for a total transaction of $123,050.10. Following the completion of the transaction, the executive vice president now directly owns 72,395 shares in the company, valued at approximately $5,448,447.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Steven Robert Pacelli sold 1,450 shares of the stock in a transaction that occurred on Monday, September 25th. The shares were sold at an average price of $69.81, for a total value of $101,224.50. The disclosure for this sale can be found here. Insiders have sold a total of 32,223 shares of company stock valued at $2,285,138 over the last quarter. Corporate insiders own 1.70% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC boosted its position in shares of DexCom by 9.9% during the 2nd quarter. FMR LLC now owns 10,824,306 shares of the medical device company’s stock valued at $791,799,000 after acquiring an additional 978,898 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of DexCom by 101,699.8% during the 2nd quarter. Janus Henderson Group PLC now owns 6,828,731 shares of the medical device company’s stock valued at $499,522,000 after acquiring an additional 6,822,023 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of DexCom by 3.4% during the 2nd quarter. Vanguard Group Inc. now owns 6,821,102 shares of the medical device company’s stock valued at $498,963,000 after acquiring an additional 224,808 shares during the last quarter. BlackRock Inc. boosted its position in shares of DexCom by 5.5% during the 2nd quarter. BlackRock Inc. now owns 4,391,404 shares of the medical device company’s stock valued at $321,232,000 after acquiring an additional 230,542 shares during the last quarter. Finally, Janus Capital Management LLC boosted its position in shares of DexCom by 12.2% during the 1st quarter. Janus Capital Management LLC now owns 4,001,971 shares of the medical device company’s stock valued at $339,083,000 after acquiring an additional 436,162 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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