DexCom’s (DXCM) “Outperform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of DexCom, Inc. (NASDAQ:DXCM) in a report released on Tuesday morning. The firm currently has a $87.00 price target on the medical device company’s stock.

A number of other equities research analysts have also issued reports on DXCM. B. Riley raised shares of DexCom from a neutral rating to a buy rating and set a $84.00 price target on the stock in a report on Thursday, December 15th. Oppenheimer Holdings Inc. raised shares of DexCom from a market perform rating to an outperform rating and set a $84.00 target price for the company in a research report on Monday, December 19th. Canaccord Genuity reissued a buy rating and set a $70.00 price target on shares of DexCom in a research report on Wednesday, December 21st. Morgan Stanley cut shares of 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 research report on Tuesday, January 3rd. Finally, Zacks Investment Research raised shares of DexCom from a sell rating to a hold rating in a research report on Monday, January 9th. Three analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. DexCom presently has an average rating of Buy and an average target price of $92.13.

Shares of DexCom (NASDAQ:DXCM) traded up 2.02% on Tuesday, hitting $75.60. The stock had a trading volume of 221,431 shares. DexCom has a 12-month low of $57.68 and a 12-month high of $96.38. The firm’s market capitalization is $6.41 billion. The company has a 50 day moving average of $79.22 and a 200-day moving average of $74.75.

DexCom (NASDAQ:DXCM) last released its earnings results on Tuesday, February 28th. The medical device company reported ($0.09) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.01. DexCom had a negative net margin of 10.64% and a negative return on equity of 23.61%. The company had revenue of $171.20 million for the quarter, compared to analyst estimates of $167.51 million. During the same quarter last year, the firm earned $0.02 EPS. The firm’s quarterly revenue was up 30.9% compared to the same quarter last year. Equities analysts predict that DexCom will post ($0.56) EPS for the current fiscal year.

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In other DexCom news, CEO Kevin R. Sayer sold 10,000 shares of the business’s stock in a transaction on Monday, April 17th. The shares were sold at an average price of $75.63, for a total transaction of $756,300.00. Following the transaction, the chief executive officer now owns 353,680 shares in the company, valued at $26,748,818.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Richard Doubleday sold 3,182 shares of the business’s stock in a transaction on Thursday, February 23rd. The shares were sold at an average price of $78.42, for a total transaction of $249,532.44. Following the transaction, the executive vice president now owns 83,582 shares in the company, valued at approximately $6,554,500.44. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 105,353 shares of company stock worth $8,181,061. 2.80% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. MAI Capital Management bought a new position in DexCom during the third quarter worth approximately $434,000. Bank of Montreal Can boosted its position in DexCom by 879.7% in the third quarter. Bank of Montreal Can now owns 16,478 shares of the medical device company’s stock worth $1,444,000 after buying an additional 14,796 shares during the last quarter. Acadian Asset Management LLC boosted its position in DexCom by 1,181.5% in the third quarter. Acadian Asset Management LLC now owns 2,627 shares of the medical device company’s stock worth $230,000 after buying an additional 2,422 shares during the last quarter. Brighton Jones LLC bought a new position in DexCom during the third quarter worth approximately $250,000. Finally, Rockefeller Financial Services Inc. raised its stake in DexCom by 80.8% in the third quarter. Rockefeller Financial Services Inc. now owns 3,438 shares of the medical device company’s stock worth $301,000 after buying an additional 1,536 shares during the period.

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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