Piper Jaffray Companies Reiterates “Overweight” Rating for DexCom, Inc. (DXCM)
DexCom, Inc. (NASDAQ:DXCM)‘s stock had its “overweight” rating reaffirmed by analysts at Piper Jaffray Companies in a note issued to investors on Wednesday, The Fly reports. They currently have a $78.00 price objective on the medical device company’s stock, down from their prior price objective of $87.00. Piper Jaffray Companies’ price objective points to a potential upside of 9.52% from the company’s current price.
A number of other brokerages have also commented on DXCM. BTIG Research lowered DexCom from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 3rd. Oppenheimer Holdings, Inc. set a $98.00 price target on DexCom and gave the company a “buy” rating in a research note on Wednesday, May 3rd. Canaccord Genuity dropped their price target on DexCom from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Wednesday, May 3rd. B. Riley reissued a “buy” rating and set a $95.00 price target on shares of DexCom in a research note on Tuesday, May 2nd. Finally, BidaskClub raised DexCom from a “hold” rating to a “buy” rating in a research note on Wednesday, June 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $87.00.
DexCom (DXCM) opened at 71.22 on Wednesday. The company’s 50 day moving average price is $70.77 and its 200-day moving average price is $74.98. The stock’s market capitalization is $6.16 billion. DexCom has a one year low of $57.68 and a one year high of $96.38.
DexCom (NASDAQ:DXCM) last announced its quarterly earnings results on Tuesday, August 1st. The medical device company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $166.54 million. During the same period in the prior year, the company earned ($0.24) earnings per share. The firm’s revenue was up 24.3% on a year-over-year basis. Analysts expect that DexCom will post ($0.77) earnings per share for the current year.
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In other news, EVP Andrew K. Balo sold 3,200 shares of the stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $69.06, for a total value of $220,992.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Steven Robert Pacelli sold 1,450 shares of the stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $78.19, for a total value of $113,375.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,726 shares of company stock worth $2,376,466. Company insiders own 1.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in DXCM. Advisor Group Inc. boosted its position in shares of DexCom by 104.9% in the second quarter. Advisor Group Inc. now owns 1,635 shares of the medical device company’s stock valued at $119,000 after buying an additional 837 shares during the period. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in shares of DexCom during the first quarter valued at about $136,000. IFP Advisors Inc boosted its position in shares of DexCom by 9.3% in the first quarter. IFP Advisors Inc now owns 1,863 shares of the medical device company’s stock valued at $158,000 after buying an additional 159 shares during the period. Edmond DE Rothschild Holding S.A. purchased a new position in shares of DexCom during the first quarter valued at about $164,000. Finally, Mn Services Vermogensbeheer B.V. boosted its position in shares of DexCom by 3.8% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 2,254 shares of the medical device company’s stock valued at $179,000 after buying an additional 83 shares during the period.
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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