BidaskClub Downgrades DexCom (NASDAQ:DXCM) to Hold
Other analysts have also recently issued research reports about the company. Robert W. Baird lifted their target price on DexCom from $186.00 to $195.00 and gave the stock an outperform rating in a research report on Thursday, August 29th. Bank of America lifted their target price on DexCom from $162.00 to $185.00 and gave the stock a buy rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. lifted their target price on DexCom from $170.00 to $190.00 and gave the stock an overweight rating in a research report on Thursday, August 1st. Oppenheimer lifted their target price on DexCom from $167.00 to $180.00 in a research report on Thursday, August 1st. Finally, Zacks Investment Research cut DexCom from a buy rating to a hold rating and set a $163.00 target price on the stock. in a research report on Monday, August 12th. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $168.44.
DXCM opened at $154.99 on Tuesday. The business’s 50-day simple moving average is $159.56 and its 200-day simple moving average is $139.71. The company has a debt-to-equity ratio of 1.56, a quick ratio of 5.64 and a current ratio of 6.05. DexCom has a one year low of $105.05 and a one year high of $178.45. The stock has a market capitalization of $14.02 billion, a P/E ratio of 207.70 and a beta of 0.72.
In related news, EVP Steven Robert Pacelli sold 3,116 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $149.65, for a total value of $466,309.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Steven R. Altman sold 2,500 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $151.62, for a total value of $379,050.00. Following the completion of the transaction, the director now owns 2,676 shares in the company, valued at approximately $405,735.12. The disclosure for this sale can be found here. Insiders sold a total of 92,081 shares of company stock worth $14,300,370 in the last 90 days. 1.80% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the stock. Blair William & Co. IL increased its position in DexCom by 4.6% in the 1st quarter. Blair William & Co. IL now owns 1,010,355 shares of the medical device company’s stock valued at $120,333,000 after acquiring an additional 44,803 shares during the period. OLD National Bancorp IN increased its position in DexCom by 1.1% in the 2nd quarter. OLD National Bancorp IN now owns 9,838 shares of the medical device company’s stock valued at $1,474,000 after acquiring an additional 108 shares during the period. Janney Montgomery Scott LLC increased its position in DexCom by 23.6% in the 2nd quarter. Janney Montgomery Scott LLC now owns 12,360 shares of the medical device company’s stock valued at $1,852,000 after acquiring an additional 2,357 shares during the period. Allstate Corp acquired a new position in DexCom in the 1st quarter valued at about $247,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in DexCom by 14.1% in the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 12,320 shares of the medical device company’s stock valued at $1,846,000 after purchasing an additional 1,519 shares in the last quarter. Hedge funds and other institutional investors own 96.30% of the company’s stock.
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 G6, a CGM system for diabetes management; DexCom G5 mobile CGM 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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