DexCom (DXCM) Downgraded by Northland Securities to “Under Perform”
Northland Securities lowered shares of DexCom (NASDAQ:DXCM) from a market perform rating to an under perform rating in a research report report published on Thursday. Northland Securities currently has $85.00 target price on the medical device company’s stock.
Other research analysts have also issued reports about the stock. BidaskClub raised shares of DexCom from a buy rating to a strong-buy rating in a report on Thursday. Wedbush reissued an outperform rating and issued a $76.00 target price (down from $85.00) on shares of DexCom in a report on Thursday, September 28th. BMO Capital Markets reissued an outperform rating and issued a $62.00 target price (down from $90.00) on shares of DexCom in a report on Thursday, September 28th. JPMorgan Chase & Co. lowered shares of DexCom from an overweight rating to a neutral rating and cut their target price for the company from $93.00 to $71.00 in a report on Thursday, September 28th. Finally, Piper Jaffray Companies reissued an overweight rating and issued a $87.00 target price on shares of DexCom in a report on Friday, September 8th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $72.14.
DexCom (DXCM) traded down $5.83 during mid-day trading on Thursday, hitting $52.25. 5,951,900 shares of the company were exchanged, compared to its average volume of 2,857,033. DexCom has a 1 year low of $42.62 and a 1 year high of $88.80. The company has a debt-to-equity ratio of 0.84, a quick ratio of 5.50 and a current ratio of 5.86. The stock has a market capitalization of $4,580.00, a price-to-earnings ratio of -91.67 and a beta of 0.31.
In other news, EVP Richard Doubleday sold 1,635 shares of DexCom stock in a transaction on Tuesday, December 26th. The stock was sold at an average price of $56.39, for a total transaction of $92,197.65. Following the completion of the sale, the executive vice president now directly owns 65,049 shares in the company, valued at $3,668,113.11. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Mark G. Foletta sold 2,500 shares of DexCom stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $54.95, for a total value of $137,375.00. Following the completion of the sale, the director now owns 4,952 shares of the company’s stock, valued at $272,112.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,140 shares of company stock valued at $2,158,576. Corporate insiders own 1.70% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Winslow Capital Management LLC bought a new stake in shares of DexCom in the second quarter valued at about $117,451,000. State Street Corp raised its holdings in shares of DexCom by 2.5% in the second quarter. State Street Corp now owns 1,549,843 shares of the medical device company’s stock valued at $113,374,000 after acquiring an additional 37,581 shares in the last quarter. Peregrine Capital Management LLC raised its holdings in shares of DexCom by 24.5% in the third quarter. Peregrine Capital Management LLC now owns 395,455 shares of the medical device company’s stock valued at $19,348,000 after acquiring an additional 77,868 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in shares of DexCom by 111.6% in the second quarter. BNP Paribas Arbitrage SA now owns 9,471 shares of the medical device company’s stock valued at $693,000 after acquiring an additional 4,995 shares in the last quarter. Finally, Macquarie Group Ltd. raised its holdings in shares of DexCom by 67.2% in the second quarter. Macquarie Group Ltd. now owns 242,598 shares of the medical device company’s stock valued at $17,746,000 after acquiring an additional 97,479 shares in the last quarter.
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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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