Goldman Sachs Initiates Coverage on Dexcom (DXCM)

Goldman Sachs assumed coverage on shares of Dexcom (NASDAQ:DXCM) in a report issued on Wednesday, Marketbeat.com reports. The firm issued a sell rating and a $57.00 price objective on the medical device company’s stock.

Other equities analysts have also recently issued research reports about the company. Oppenheimer set a $67.00 price target on Dexcom and gave the stock a buy rating in a report on Monday, February 12th. Piper Jaffray set a $60.00 price target on Dexcom and gave the stock a buy rating in a report on Monday, February 26th. BidaskClub cut Dexcom from a strong-buy rating to a buy rating in a report on Friday, December 22nd. Jefferies Group lifted their price target on Dexcom from $58.00 to $70.00 and gave the stock a buy rating in a report on Friday, December 22nd. Finally, Canaccord Genuity boosted their price objective on Dexcom from $62.00 to $71.00 and gave the stock a buy rating in a report on Wednesday, February 28th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $66.91.

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Dexcom stock opened at $70.15 on Wednesday. Dexcom has a 52 week low of $42.62 and a 52 week high of $81.91. The company has a debt-to-equity ratio of 0.78, a current ratio of 5.36 and a quick ratio of 5.04.

Dexcom (NASDAQ:DXCM) last posted its quarterly earnings results on Tuesday, February 27th. The medical device company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.07. Dexcom had a negative return on equity of 13.99% and a negative net margin of 6.99%. The business had revenue of $221.00 million during the quarter, compared to analysts’ expectations of $217.82 million. analysts expect that Dexcom will post -0.56 EPS for the current year.

In related news, EVP Richard Doubleday sold 1,635 shares of the business’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $54.67, for a total value of $89,385.45. Following the completion of the sale, the executive vice president now directly owns 65,049 shares in the company, valued at $3,556,228.83. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Terrance H. Gregg sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $55.91, for a total value of $559,100.00. Following the completion of the sale, the chairman now owns 484,559 shares of the company’s stock, valued at $27,091,693.69. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,854 shares of company stock valued at $2,141,081. 1.70% of the stock is currently owned by corporate insiders.

Several hedge funds have recently modified their holdings of DXCM. The Manufacturers Life Insurance Company boosted its stake 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 valued at $238,000 after buying an additional 354 shares during the period. TD Asset Management Inc. boosted its stake in shares of Dexcom by 38.3% in the third quarter. TD Asset Management Inc. now owns 36,254 shares of the medical device company’s stock valued at $1,774,000 after buying an additional 10,042 shares during the period. Legal & General Group Plc boosted its stake in shares of Dexcom by 15.9% in the third quarter. Legal & General Group Plc now owns 95,757 shares of the medical device company’s stock valued at $4,685,000 after buying an additional 13,166 shares during the period. Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of Dexcom by 0.4% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 400,181 shares of the medical device company’s stock valued at $19,579,000 after buying an additional 1,648 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its stake in shares of Dexcom by 3.2% in the third quarter. Schwab Charles Investment Management Inc. now owns 265,019 shares of the medical device company’s stock valued at $12,967,000 after buying an additional 8,171 shares during the period.

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Dexcom Company Profile

DexCom, Inc, a medical device company, focuses on the design, development, and commercialization of continuous glucose monitoring (CGM) systems in the United States and internationally. The company offers its systems for ambulatory use by people with diabetes; and for use by healthcare providers. Its products include DexCom G5 mobile continuous glucose monitoring system to communicate directly to patient's mobile device; DexCom G4 PLATINUM system for continuous use by adults with diabetes; and DexCom Share, a remote monitoring system.

Analyst Recommendations for Dexcom (NASDAQ:DXCM)

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