DexCom, Inc. (DXCM) Downgraded by Northland Securities to “Market Perform”
Northland Securities cut shares of DexCom, Inc. (NASDAQ:DXCM) from an outperform rating to a market perform rating in a research note released on Thursday, MarketBeat reports. Northland Securities currently has $60.00 target price on the medical device company’s stock, down from their previous target price of $85.00.
Several other brokerages have also recently commented on DXCM. Canaccord Genuity reaffirmed a buy rating and set a $90.00 price target on shares of DexCom in a research report on Wednesday, June 7th. BidaskClub upgraded DexCom from a sell rating to a hold rating in a research note on Thursday, June 15th. Piper Jaffray Companies reissued a buy rating and issued a $78.00 price objective on shares of DexCom in a report on Wednesday, July 12th. BMO Capital Markets reissued a buy rating and issued a $105.00 price objective on shares of DexCom in a report on Thursday, July 13th. Finally, Cowen and Company restated a buy rating and set a $90.00 price objective on shares of DexCom in a research note on Friday, July 14th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and fourteen have assigned a buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $72.19.
DexCom (NASDAQ:DXCM) opened at 48.925 on Thursday. The firm’s market cap is $4.23 billion. The firm’s 50-day moving average price is $72.62 and its 200 day moving average price is $73.86. DexCom has a 52-week low of $42.62 and a 52-week high of $89.02.
DexCom (NASDAQ:DXCM) last announced its quarterly earnings data on Tuesday, August 1st. The medical device company reported ($0.16) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.23) by $0.07. The company had revenue of $170.60 million during the quarter, compared to analyst estimates of $166.54 million. DexCom had a negative net margin of 10.27% and a negative return on equity of 27.90%. The firm’s revenue for the quarter was up 24.3% compared to the same quarter last year. During the same period last year, the business earned ($0.24) EPS. On average, equities research analysts forecast that DexCom will post ($0.79) EPS for the current year.
In other DexCom news, EVP Andrew K. Balo sold 3,200 shares of DexCom stock in a transaction on Monday, July 10th. The stock was sold at an average price of $71.55, for a total transaction of $228,960.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Kevin R. Sayer sold 6,000 shares of DexCom stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $71.86, for a total value of $431,160.00. The disclosure for this sale can be found here. Insiders sold 32,223 shares of company stock worth $2,285,138 in the last 90 days. 1.70% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. Advisor Group Inc. raised its stake in shares of DexCom by 104.9% during the second quarter. Advisor Group Inc. now owns 1,635 shares of the medical device company’s stock valued at $119,000 after purchasing an additional 837 shares in the last quarter. Edmond DE Rothschild Holding S.A. acquired a new stake in DexCom in the first quarter worth about $164,000. IFP Advisors Inc lifted its holdings in DexCom by 30.5% in the second quarter. IFP Advisors Inc now owns 2,431 shares of the medical device company’s stock worth $178,000 after purchasing an additional 568 shares during the period. Independent Portfolio Consultants Inc. lifted its holdings in DexCom by 0.4% in the second quarter. Independent Portfolio Consultants Inc. now owns 2,499 shares of the medical device company’s stock worth $183,000 after purchasing an additional 9 shares during the period. Finally, Brighton Jones LLC acquired a new stake in DexCom in the first quarter worth about $204,000.
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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