DexCom (DXCM) Upgraded to Neutral at Goldman Sachs Group

DexCom (NASDAQ:DXCM) was upgraded by investment analysts at Goldman Sachs Group from a “sell” rating to a “neutral” rating in a research report issued on Friday, The Fly reports. The brokerage presently has a $125.00 price objective on the medical device company’s stock. Goldman Sachs Group’s target price suggests a potential downside of 5.91% from the company’s previous close.

DXCM has been the topic of several other research reports. BMO Capital Markets upped their price objective on DexCom to $112.00 and gave the company an “outperform” rating in a research note on Tuesday, July 10th. BidaskClub lowered DexCom from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 18th. Bank of America increased their target price on DexCom from $106.00 to $127.00 and gave the stock a “buy” rating in a research note on Thursday, August 2nd. Berenberg Bank upgraded DexCom from a “hold” rating to a “buy” rating and set a $140.00 target price on the stock in a research note on Monday, August 6th. Finally, Jefferies Financial Group increased their target price on DexCom from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, August 2nd. Eight research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $127.67.

NASDAQ:DXCM opened at $132.85 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 4.62 and a current ratio of 4.89. The company has a market capitalization of $11.72 billion, a price-to-earnings ratio of -229.05 and a beta of 0.47. DexCom has a 12-month low of $43.74 and a 12-month high of $148.56.

DexCom (NASDAQ:DXCM) last released its quarterly earnings data on Wednesday, August 1st. The medical device company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.08. The firm had revenue of $242.50 million for the quarter, compared to analyst estimates of $205.81 million. DexCom had a negative return on equity of 7.45% and a negative net margin of 0.65%. The business’s revenue for the quarter was up 42.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.16) earnings per share. Equities research analysts predict that DexCom will post -0.47 EPS for the current fiscal year.

In related news, insider Jacob Steven Leach sold 47,600 shares of the stock in a transaction that occurred on Friday, September 28th. The stock was sold at an average price of $143.95, for a total transaction of $6,852,020.00. Following the sale, the insider now owns 109,284 shares of the company’s stock, valued at $15,731,431.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Jeffrey Moy sold 5,831 shares of the stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $94.13, for a total value of $548,872.03. Following the sale, the senior vice president now directly owns 68,511 shares in the company, valued at approximately $6,448,940.43. The disclosure for this sale can be found here. In the last quarter, insiders have sold 191,104 shares of company stock worth $25,638,120. 1.80% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of the stock. Bfsg LLC acquired a new stake in DexCom during the third quarter worth approximately $456,000. Aperio Group LLC grew its position in DexCom by 9.4% during the third quarter. Aperio Group LLC now owns 26,962 shares of the medical device company’s stock worth $3,857,000 after buying an additional 2,313 shares in the last quarter. Nisa Investment Advisors LLC acquired a new stake in DexCom during the third quarter worth approximately $447,000. Bank of Montreal Can grew its position in DexCom by 92.1% during the third quarter. Bank of Montreal Can now owns 59,549 shares of the medical device company’s stock worth $8,518,000 after buying an additional 28,557 shares in the last quarter. Finally, Fox Run Management L.L.C. acquired a new stake in DexCom during the third quarter worth approximately $699,000.

DexCom Company Profile

DexCom, Inc, a medical device company, focuses on the design, development, and commercialization of continuous glucose monitoring (CGM) systems in the United States and internationally. The company offers its systems for ambulatory use by people with diabetes; and for use by healthcare providers. Its products include DexCom G5 mobile continuous glucose monitoring system to communicate directly to patient's mobile device; DexCom G4 PLATINUM system for continuous use by adults with diabetes; and DexCom Share, a remote monitoring system.

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Analyst Recommendations for DexCom (NASDAQ:DXCM)

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