DexCom (DXCM) Upgraded to “Buy” by BidaskClub

DexCom (NASDAQ:DXCM) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a report issued on Saturday.

Other analysts have also recently issued research reports about the company. Oppenheimer set a $125.00 target price on DexCom and gave the stock a “buy” rating in a research report on Thursday, August 2nd. JPMorgan Chase & Co. lifted their target price on DexCom to $140.00 and gave the stock an “overweight” rating in a research report on Thursday, August 2nd. Cowen lifted their target price on DexCom from $110.00 to $120.00 and gave the stock an “outperform” rating in a research report on Thursday, August 2nd. Stephens reiterated a “buy” rating and set a $135.00 target price on shares of DexCom in a research report on Thursday, August 2nd. Finally, Canaccord Genuity lifted their target price on DexCom from $105.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, August 2nd. Seven investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $132.50.

DXCM opened at $149.46 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 one year low of $49.80 and a one year high of $152.14. The stock has a market cap of $11.74 billion, a PE ratio of -257.69 and a beta of 0.60.

DexCom (NASDAQ:DXCM) last posted its earnings results on Tuesday, November 6th. The medical device company reported $0.17 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.12) by $0.29. DexCom had a negative return on equity of 3.08% and a net margin of 4.72%. The business had revenue of $266.70 million for the quarter, compared to analysts’ expectations of $242.72 million. The business’s revenue for the quarter was up 44.5% compared to the same quarter last year. As a group, equities research analysts anticipate that DexCom will post -0.49 EPS for the current year.

In related news, CEO Kevin R. Sayer sold 11,161 shares of the business’s stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $123.22, for a total value of $1,375,258.42. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Andrew K. Balo sold 5,000 shares of the business’s stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $124.25, for a total value of $621,250.00. The disclosure for this sale can be found here. Insiders sold a total of 157,892 shares of company stock worth $21,864,030 in the last 90 days. 1.80% of the stock is currently owned by insiders.

A number of hedge funds have recently modified their holdings of the stock. State Board of Administration of Florida Retirement System increased its position in DexCom by 0.4% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 120,747 shares of the medical device company’s stock valued at $11,469,000 after acquiring an additional 470 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in DexCom by 9.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,552 shares of the medical device company’s stock valued at $527,000 after acquiring an additional 471 shares during the period. Metropolitan Life Insurance Co. NY increased its position in DexCom by 7.6% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 6,879 shares of the medical device company’s stock valued at $653,000 after acquiring an additional 486 shares during the period. Xact Kapitalforvaltning AB increased its position in DexCom by 4.1% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 12,700 shares of the medical device company’s stock valued at $1,206,000 after acquiring an additional 500 shares during the period. Finally, Oppenheimer & Co. Inc. increased its position in DexCom by 23.8% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 3,282 shares of the medical device company’s stock valued at $469,000 after acquiring an additional 630 shares during the period.

About DexCom

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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Analyst Recommendations for DexCom (NASDAQ:DXCM)

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