BTIG Research Downgrades DexCom, Inc. (DXCM) to Neutral
DexCom, Inc. (NASDAQ:DXCM) was downgraded by BTIG Research from a “buy” rating to a “neutral” rating in a note issued to investors on Wednesday, May 3rd.
Several other equities analysts have also recently weighed in on the company. Canaccord Genuity reissued a “buy” rating on shares of DexCom in a report on Tuesday, January 10th. Zacks Investment Research raised DexCom from a “sell” rating to a “hold” rating in a report on Monday, January 9th. Oppenheimer Holdings Inc. reissued a “buy” rating and set a $98.00 price target on shares of DexCom in a report on Friday, January 13th. Morgan Stanley cut DexCom from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $87.00 to $66.00 in a report on Tuesday, January 3rd. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $79.00 target price on shares of DexCom in a report on Thursday, February 16th. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $91.81.
DexCom (NASDAQ:DXCM) traded down 2.105% on Wednesday, hitting $67.215. The company had a trading volume of 257,549 shares. DexCom has a one year low of $57.68 and a one year high of $96.38. The stock has a 50 day moving average of $75.97 and a 200-day moving average of $73.65. The stock’s market capitalization is $5.81 billion.
DexCom (NASDAQ:DXCM) last issued its earnings results on Tuesday, May 2nd. The medical device company reported ($0.49) EPS for the quarter, beating the consensus estimate of ($0.55) by $0.06. DexCom had a negative return on equity of 23.61% and a negative net margin of 10.64%. The business had revenue of $142.30 million for the quarter, compared to the consensus estimate of $143.94 million. Equities analysts anticipate that DexCom will post ($0.68) EPS for the current year.
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In related news, insider Terrance H. Gregg sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, April 20th. The shares were sold at an average price of $74.10, for a total value of $1,111,500.00. Following the completion of the transaction, the insider now owns 454,559 shares of the company’s stock, valued at $33,682,821.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jess Roper sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 22nd. The stock was sold at an average price of $75.97, for a total transaction of $151,940.00. Following the completion of the transaction, the chief financial officer now directly owns 46,497 shares of the company’s stock, valued at approximately $3,532,377.09. The disclosure for this sale can be found here. Insiders have sold 132,202 shares of company stock valued at $10,102,405 in the last ninety days. Insiders own 2.80% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in DexCom by 5,000.4% in the first quarter. BlackRock Inc. now owns 4,160,862 shares of the medical device company’s stock valued at $352,550,000 after buying an additional 4,079,283 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of DexCom by 304.3% in the first quarter. Bank of New York Mellon Corp now owns 2,546,729 shares of the medical device company’s stock worth $215,785,000 after buying an additional 1,916,759 shares during the period. Janus Capital Management LLC raised its stake in shares of DexCom by 99.7% in the fourth quarter. Janus Capital Management LLC now owns 3,565,809 shares of the medical device company’s stock worth $213,021,000 after buying an additional 1,779,973 shares during the period. Brown Advisory Inc. raised its stake in shares of DexCom by 31.1% in the fourth quarter. Brown Advisory Inc. now owns 4,797,406 shares of the medical device company’s stock worth $286,406,000 after buying an additional 1,138,100 shares during the period. Finally, FMR LLC raised its stake in shares of DexCom by 9.1% in the first quarter. FMR LLC now owns 9,845,408 shares of the medical device company’s stock worth $834,201,000 after buying an additional 823,406 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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