DexCom, Inc. (DXCM) Receives Buy Rating from Wedbush
Wedbush reissued their buy rating on shares of DexCom, Inc. (NASDAQ:DXCM) in a research note published on Wednesday. The brokerage currently has a $76.00 target price on the medical device company’s stock.
A number of other brokerages also recently commented on DXCM. BidaskClub upgraded DexCom from a hold rating to a buy rating in a research note on Wednesday, June 21st. Canaccord Genuity restated a buy rating and issued a $90.00 target price on shares of DexCom in a research note on Tuesday, August 22nd. ValuEngine upgraded DexCom from a sell rating to a hold rating in a research note on Friday, September 1st. Barclays PLC assumed coverage on DexCom in a report on Friday, September 15th. They set an equal weight rating and a $76.00 price target on the stock. Finally, Cowen and Company reaffirmed a buy rating and set a $90.00 price target on shares of DexCom in a report on Friday, July 14th. One equities 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 stock has an average rating of Buy and an average price target of $72.19.
DexCom (NASDAQ:DXCM) traded down 0.21% during mid-day trading on Wednesday, reaching $48.00. The company’s stock had a trading volume of 4,856,872 shares. The firm’s market capitalization is $4.15 billion. DexCom has a 12 month low of $42.62 and a 12 month high of $88.80. The stock’s 50-day moving average is $69.11 and its 200-day moving average is $72.43.
DexCom (NASDAQ:DXCM) last issued its earnings results on Tuesday, August 1st. The medical device company reported ($0.16) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.23) by $0.07. DexCom had a negative return on equity of 27.90% and a negative net margin of 10.27%. The company had revenue of $170.60 million during the quarter, compared to the consensus estimate of $166.54 million. During the same period in the previous year, the firm posted ($0.24) earnings per share. DexCom’s quarterly revenue was up 24.3% compared to the same quarter last year. On average, equities analysts anticipate that DexCom will post ($0.80) EPS for the current year.
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In other news, EVP Andrew K. Balo sold 3,200 shares of the business’s stock in a transaction on Monday, July 10th. The shares were sold at an average price of $71.55, for a total transaction of $228,960.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Kevin R. Sayer sold 6,000 shares of the business’s stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $71.86, for a total transaction of $431,160.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,223 shares of company stock worth $2,285,138. Corporate insiders own 1.70% of the company’s stock.
Several institutional investors have recently bought and sold shares of DXCM. BNP Paribas Arbitrage SA grew its holdings in shares of DexCom by 238.8% during the 1st quarter. BNP Paribas Arbitrage SA now owns 4,476 shares of the medical device company’s stock valued at $379,000 after acquiring an additional 3,155 shares in the last quarter. UBS Asset Management Americas Inc. grew its holdings in shares of DexCom by 14.1% during the 1st quarter. UBS Asset Management Americas Inc. now owns 248,178 shares of the medical device company’s stock valued at $21,028,000 after acquiring an additional 30,737 shares in the last quarter. Karp Capital Management Corp purchased a new position in shares of DexCom during the 1st quarter valued at $631,000. KBC Group NV grew its holdings in shares of DexCom by 35.5% during the 1st quarter. KBC Group NV now owns 8,308 shares of the medical device company’s stock valued at $704,000 after acquiring an additional 2,177 shares in the last quarter. Finally, Prudential Financial Inc. grew its holdings in shares of DexCom by 15.6% during the 1st quarter. Prudential Financial Inc. now owns 117,338 shares of the medical device company’s stock valued at $9,942,000 after acquiring an additional 15,800 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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