DexCom, Inc. (DXCM) PT Lowered to $64.00 at Cowen and Company
DexCom, Inc. (NASDAQ:DXCM) had its price target dropped by stock analysts at Cowen and Company from $90.00 to $64.00 in a research report issued to clients and investors on Thursday. The firm presently has an “outperform” rating on the medical device company’s stock. Cowen and Company’s target price would suggest a potential downside of 6.06% from the company’s current price.
Several other brokerages also recently issued reports on DXCM. Robert W. Baird restated a “hold” rating and issued a $79.00 price objective on shares of DexCom in a research note on Sunday, September 10th. BidaskClub upgraded DexCom from a “hold” rating to a “buy” rating in a research note on Wednesday, June 21st. BMO Capital Markets restated a “buy” rating and issued a $105.00 price objective on shares of DexCom in a research note on Thursday, July 13th. Piper Jaffray Companies restated an “overweight” rating and issued a $87.00 price objective on shares of DexCom in a research note on Friday, September 8th. Finally, Barclays PLC assumed coverage on DexCom in a research note on Friday, September 15th. They issued an “equal weight” rating and a $76.00 price objective for the company. Ten research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $83.25.
Shares of DexCom (DXCM) opened at 67.47 on Thursday. DexCom has a one year low of $57.68 and a one year high of $94.24. The firm’s 50-day moving average price is $72.62 and its 200 day moving average price is $73.86. The firm’s market cap is $5.84 billion.
DexCom (NASDAQ:DXCM) last announced its quarterly earnings results on Tuesday, August 1st. The medical device company reported ($0.16) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 business had revenue of $170.60 million during the quarter, compared to the consensus estimate of $166.54 million. During the same quarter in the prior year, the company posted ($0.24) earnings per share. DexCom’s revenue was up 24.3% compared to the same quarter last year. Analysts predict that DexCom will post ($0.78) EPS for the current year.
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In related news, CEO Kevin R. Sayer sold 6,000 shares of the stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of $69.34, for a total transaction of $416,040.00. The sale 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 the stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $69.47, for a total value of $100,731.50. The disclosure for this sale can be found here. Insiders have sold a total of 32,223 shares of company stock worth $2,285,138 in the last three months. 1.70% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of DXCM. Advisor Group Inc. lifted 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 worth $119,000 after purchasing an additional 837 shares in the last quarter. Edmond DE Rothschild Holding S.A. purchased a new stake in DexCom during the 1st quarter worth about $164,000. IFP Advisors Inc lifted 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 worth $178,000 after purchasing an additional 568 shares in the last quarter. Independent Portfolio Consultants Inc. lifted 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 worth $183,000 after purchasing an additional 9 shares in the last quarter. Finally, Brighton Jones LLC purchased a new stake in DexCom during the 1st quarter worth about $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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