DexCom (NASDAQ:DXCM) was upgraded by investment analysts at Goldman Sachs Group from a “sell” rating to a “neutral” rating in a note issued to investors on Friday, MarketBeat reports. The firm currently has a $125.00 target price on the medical device company’s stock. Goldman Sachs Group’s target price suggests a potential downside of 3.10% from the stock’s current price.
Several other analysts have also recently issued reports on DXCM. Canaccord Genuity upped their target price on shares of DexCom from $85.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, June 28th. Morgan Stanley upped their price target on shares of DexCom from $130.00 to $150.00 and gave the company an “equal weight” rating in a report on Thursday, October 11th. BidaskClub downgraded shares of DexCom from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 31st. Raymond James upgraded shares of DexCom from a “market perform” rating to an “outperform” rating in a report on Monday, July 2nd. Finally, BMO Capital Markets upped their price target on shares of DexCom to $112.00 and gave the company an “outperform” rating in a report on Tuesday, July 10th. Eight research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $127.67.
Shares of NASDAQ DXCM opened at $129.00 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 4.62 and a current ratio of 4.89. DexCom has a 12-month low of $43.74 and a 12-month high of $148.56.
DexCom (NASDAQ:DXCM) last announced its earnings results on Wednesday, August 1st. The medical device company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.08. The firm had revenue of $242.50 million for the quarter, compared to analysts’ expectations of $205.81 million. DexCom had a negative net margin of 0.65% and a negative return on equity of 7.45%. The business’s revenue was up 42.1% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.16) EPS. As a group, equities analysts expect that DexCom will post -0.47 earnings per share for the current year.
In other DexCom news, SVP Jeffrey Moy sold 5,831 shares of the company’s stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $94.13, for a total value of $548,872.03. Following the transaction, the senior vice president now directly owns 68,511 shares in the company, valued at approximately $6,448,940.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Andrew K. Balo sold 5,000 shares of the company’s stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $145.17, for a total transaction of $725,850.00. The disclosure for this sale can be found here. Insiders sold a total of 191,104 shares of company stock worth $25,638,120 over the last 90 days. Insiders own 1.80% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Waddell & Reed Financial Inc. grew its stake in DexCom by 164.8% in the 2nd quarter. Waddell & Reed Financial Inc. now owns 569,331 shares of the medical device company’s stock worth $54,075,000 after acquiring an additional 354,331 shares in the last quarter. UBS Group AG grew its stake in DexCom by 76.3% in the 1st quarter. UBS Group AG now owns 15,926 shares of the medical device company’s stock worth $1,181,000 after acquiring an additional 6,890 shares in the last quarter. BlackRock Inc. grew its stake in DexCom by 5.9% in the 2nd quarter. BlackRock Inc. now owns 4,116,421 shares of the medical device company’s stock worth $390,978,000 after acquiring an additional 228,933 shares in the last quarter. Macquarie Group Ltd. grew its stake in DexCom by 14.4% in the 2nd quarter. Macquarie Group Ltd. now owns 236,341 shares of the medical device company’s stock worth $22,448,000 after acquiring an additional 29,825 shares in the last quarter. Finally, Federated Investors Inc. PA grew its stake in DexCom by 97.1% in the 2nd quarter. Federated Investors Inc. PA now owns 460,209 shares of the medical device company’s stock worth $43,710,000 after acquiring an additional 226,740 shares in the last quarter.
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.
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