DexCom, Inc. (DXCM) Price Target Cut to $52.00 by Analysts at Morgan Stanley
DexCom, Inc. (NASDAQ:DXCM) had its target price reduced by stock analysts at Morgan Stanley from $72.00 to $52.00 in a research report issued on Friday. The brokerage currently has a “neutral” rating on the medical device company’s stock. Morgan Stanley’s target price points to a potential upside of 5.43% from the company’s current price.
A number of other research firms also recently issued reports on DXCM. Barclays PLC decreased their price target on shares of DexCom from $60.00 to $57.00 and set an “equal weight” rating for the company in a research note on Thursday. Northland Securities reiterated a “hold” rating and set a $50.00 price target on shares of DexCom in a report on Thursday. Piper Jaffray Companies restated a “buy” rating and issued a $78.00 target price on shares of DexCom in a report on Wednesday, July 12th. Wedbush reiterated an “outperform” rating and issued a $76.00 price target (down from $85.00) on shares of DexCom in a research report on Thursday, September 28th. Finally, Oppenheimer Holdings, Inc. set a $92.00 price objective on shares of DexCom and gave the company a “buy” rating in a research report on Wednesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and fourteen have issued a buy rating to the company. DexCom presently has a consensus rating of “Buy” and an average price target of $70.69.
DexCom (NASDAQ:DXCM) traded up $4.26 on Friday, hitting $49.12. 1,424,421 shares of the stock were exchanged, compared to its average volume of 1,705,606.
DexCom (NASDAQ:DXCM) last issued its earnings results on Tuesday, August 1st. The medical device company reported ($0.16) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.23) by $0.07. DexCom had a negative return on equity of 20.44% and a negative net margin of 7.21%. The firm had revenue of $170.60 million for the quarter, compared to the consensus estimate of $166.54 million. During the same quarter last year, the business posted ($0.24) EPS. The company’s revenue was up 24.3% compared to the same quarter last year. analysts forecast that DexCom will post -0.74 EPS for the current year.
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In related news, EVP Andrew K. Balo sold 3,244 shares of DexCom stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $71.18, for a total value of $230,907.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kevin R. Sayer sold 6,000 shares of DexCom stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $69.77, for a total transaction of $418,620.00. The disclosure for this sale can be found here. In the last three months, insiders sold 23,208 shares of company stock valued at $1,597,567. Insiders own 1.70% of the company’s stock.
A number of institutional investors have recently modified their holdings of DXCM. Janus Henderson Group PLC raised its holdings in DexCom by 101,699.8% during the second quarter. Janus Henderson Group PLC now owns 6,828,731 shares of the medical device company’s stock worth $499,522,000 after purchasing an additional 6,822,023 shares in the last quarter. Winslow Capital Management LLC acquired a new stake in DexCom during the second quarter worth approximately $117,451,000. FMR LLC raised its holdings in DexCom by 9.9% during the second quarter. FMR LLC now owns 10,824,306 shares of the medical device company’s stock worth $791,799,000 after purchasing an additional 978,898 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in DexCom by 27.3% during the second quarter. Bank of New York Mellon Corp now owns 3,242,928 shares of the medical device company’s stock worth $237,221,000 after purchasing an additional 696,199 shares in the last quarter. Finally, Fred Alger Management Inc. raised its holdings in DexCom by 52.6% during the second quarter. Fred Alger Management Inc. now owns 2,018,116 shares of the medical device company’s stock worth $147,625,000 after purchasing an additional 695,484 shares in the last quarter.
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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