Brokers Set Expectations for DexCom, Inc.’s FY2017 Earnings (DXCM)
DexCom, Inc. (NASDAQ:DXCM) – Analysts at Oppenheimer Holdings reduced their FY2017 earnings per share estimates for shares of DexCom in a research report issued to clients and investors on Thursday. Oppenheimer Holdings analyst S. Lichtman now expects that the medical device company will earn ($0.75) per share for the year, down from their prior estimate of ($0.73). Oppenheimer Holdings currently has a “Outperform” rating and a $85.00 price objective on the stock. Oppenheimer Holdings also issued estimates for DexCom’s FY2018 earnings at ($0.30) EPS.
DexCom (NASDAQ:DXCM) last released its earnings results on Tuesday, August 1st. The medical device company reported ($0.16) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.23) by $0.07. The firm had revenue of $170.60 million for 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 revenue for the quarter was up 24.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.24) EPS.
Several other analysts have also recently issued reports on DXCM. Canaccord Genuity reaffirmed a “buy” rating and set a $90.00 price objective on shares of DexCom in a research note on Wednesday, June 7th. BidaskClub raised shares of DexCom from a “sell” rating to a “hold” rating in a research note on Thursday, June 15th. Piper Jaffray Companies reissued a “buy” rating and issued a $78.00 target price on shares of DexCom in a research note on Wednesday, July 12th. BMO Capital Markets restated a “buy” rating and set a $105.00 target price on shares of DexCom in a report on Thursday, July 13th. Finally, Cowen and Company restated a “buy” rating and set a $90.00 target price on shares of DexCom in a report on Friday, July 14th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and fourteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $72.19.
Shares of DexCom (NASDAQ:DXCM) opened at 48.95 on Monday. The company’s 50-day moving average price is $70.46 and its 200 day moving average price is $72.83. The stock’s market cap is $4.24 billion. DexCom has a 12-month low of $42.62 and a 12-month high of $88.80.
A number of institutional investors and hedge funds have recently bought and sold shares of DXCM. Advisor Group Inc. boosted 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. acquired a new position in DexCom in the 1st quarter valued at about $164,000. Brighton Jones LLC acquired a new position in DexCom in the 1st quarter valued at about $204,000. IFP Advisors Inc increased its stake in DexCom by 30.5% during the second 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 during the period. Finally, Independent Portfolio Consultants Inc. increased its stake in DexCom by 0.4% during the second 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 during the period.
In other news, CEO Kevin R. Sayer sold 6,000 shares of the firm’s stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $71.86, for a total transaction of $431,160.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Andrew K. Balo sold 3,200 shares of the firm’s stock in a transaction on Monday, July 10th. The stock was sold at an average price of $71.55, for a total value of $228,960.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,223 shares of company stock worth $2,285,138. Company insiders own 1.70% of the company’s stock.
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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