Raymond James Financial, Inc. Reiterates Market Perform Rating for DexCom, Inc. (DXCM)
DexCom, Inc. (NASDAQ:DXCM)‘s stock had its “market perform” rating reaffirmed by analysts at Raymond James Financial, Inc. in a report released on Thursday. They currently have a $49.50 target price on the medical device company’s stock, down from their previous target price of $76.00. Raymond James Financial, Inc.’s price target suggests a potential upside of 1.18% from the company’s current price.
Other equities analysts also recently issued research reports about the company. Oppenheimer Holdings, Inc. set a $92.00 price target on DexCom and gave the company a “buy” rating in a research note on Wednesday, August 2nd. Cowen and Company reiterated a “buy” rating and set a $90.00 price target on shares of DexCom in a research note on Friday, July 14th. BMO Capital Markets reiterated a “buy” rating and set a $105.00 price target on shares of DexCom in a research note on Thursday, July 13th. Piper Jaffray Companies reiterated a “buy” rating and set a $78.00 price target on shares of DexCom in a research note on Wednesday, July 12th. Finally, BidaskClub upgraded 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, nine have issued a hold rating and fourteen have issued a buy rating to the stock. DexCom presently has an average rating of “Buy” and an average target price of $75.38.
Shares of DexCom (NASDAQ DXCM) opened at 48.925 on Thursday. The company’s 50-day moving average price is $72.62 and its 200 day moving average price is $73.86. The company’s market cap is $4.23 billion. DexCom has a 12-month low of $45.61 and a 12-month high of $94.24.
DexCom (NASDAQ:DXCM) last released its quarterly earnings results on Tuesday, August 1st. The medical device company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.07. The business had revenue of $170.60 million during the quarter, compared to the consensus estimate of $166.54 million. DexCom had a negative return on equity of 27.90% and a negative net margin of 10.27%. The company’s quarterly revenue was up 24.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.24) EPS. Equities analysts predict that DexCom will post ($0.79) earnings per share for the current year.
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In related news, CEO Kevin R. Sayer sold 6,000 shares of DexCom stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $69.34, for a total value of $416,040.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Steven Robert Pacelli sold 1,450 shares of DexCom stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $69.47, for a total transaction of $100,731.50. The disclosure for this sale can be found here. Insiders sold a total of 32,223 shares of company stock worth $2,285,138 in the last ninety days. 1.70% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the business. Advisor Group Inc. raised its holdings in DexCom by 104.9% during the 2nd quarter. Advisor Group Inc. now owns 1,635 shares of the medical device company’s stock valued at $119,000 after acquiring an additional 837 shares during the period. Edmond DE Rothschild Holding S.A. bought a new stake in DexCom during the 1st quarter valued at $164,000. IFP Advisors Inc raised its holdings in DexCom by 30.5% during the 2nd quarter. IFP Advisors Inc now owns 2,431 shares of the medical device company’s stock valued at $178,000 after acquiring an additional 568 shares during the period. Independent Portfolio Consultants Inc. raised its holdings in DexCom by 0.4% during the 2nd quarter. Independent Portfolio Consultants Inc. now owns 2,499 shares of the medical device company’s stock valued at $183,000 after acquiring an additional 9 shares during the period. Finally, Brighton Jones LLC bought a new stake in DexCom during the 1st quarter valued at $204,000.
DexCom Company Profile
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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