DexCom (NASDAQ:DXCM) Upgraded to Strong-Buy at BidaskClub

BidaskClub upgraded shares of DexCom (NASDAQ:DXCM) from a buy rating to a strong-buy rating in a research report sent to investors on Tuesday morning, BidAskClub reports.

A number of other equities analysts have also weighed in on the stock. JPMorgan Chase & Co. boosted their price target on shares of DexCom from $170.00 to $190.00 and gave the stock an overweight rating in a research report on Thursday, August 1st. BMO Capital Markets boosted their price target on shares of DexCom from $167.00 to $172.00 and gave the stock an outperform rating in a research report on Thursday, May 2nd. Bank of America boosted their price target on shares of DexCom from $162.00 to $185.00 and gave the stock a buy rating in a research report on Thursday, August 1st. Piper Jaffray Companies boosted their price target on shares of DexCom from $173.00 to $182.00 and gave the stock a positive rating in a research report on Wednesday, July 31st. Finally, ValuEngine lowered shares of DexCom from a strong-buy rating to a buy rating in a research report on Thursday, August 1st. Six investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of Buy and a consensus target price of $166.75.

DXCM opened at $163.68 on Tuesday. The firm has a market capitalization of $14.46 billion, a PE ratio of 545.60 and a beta of 0.80. DexCom has a twelve month low of $105.05 and a twelve month high of $165.09. The firm’s 50-day moving average price is $150.89 and its 200 day moving average price is $136.46. The company has a current ratio of 6.05, a quick ratio of 5.64 and a debt-to-equity ratio of 1.56.

DexCom (NASDAQ:DXCM) last posted its quarterly earnings results on Wednesday, July 31st. The medical device company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.07. The firm had revenue of $336.40 million for the quarter, compared to analyst estimates of $304.40 million. DexCom had a negative net margin of 13.96% and a positive return on equity of 10.41%. DexCom’s quarterly revenue was up 38.7% on a year-over-year basis. During the same period in the previous year, the business posted ($0.10) earnings per share. As a group, analysts predict that DexCom will post 0.97 earnings per share for the current fiscal year.

In other DexCom news, EVP Steven Robert Pacelli sold 3,597 shares of DexCom stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $116.71, for a total transaction of $419,805.87. Following the transaction, the executive vice president now directly owns 72,570 shares of the company’s stock, valued at $8,469,644.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Richard Doubleday sold 2,016 shares of DexCom stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $153.56, for a total transaction of $309,576.96. Following the transaction, the executive vice president now directly owns 72,570 shares in the company, valued at $11,143,849.20. The disclosure for this sale can be found here. Insiders have sold 55,665 shares of company stock worth $7,344,275 over the last ninety days. 1.80% of the stock is owned by insiders.

A number of hedge funds have recently modified their holdings of DXCM. Gradient Investments LLC purchased a new position in DexCom during the second quarter worth about $25,000. Virtus ETF Advisers LLC purchased a new position in DexCom during the second quarter worth about $29,000. Steward Partners Investment Advisory LLC purchased a new stake in shares of DexCom in the 2nd quarter valued at approximately $31,000. CSat Investment Advisory L.P. purchased a new stake in shares of DexCom in the 2nd quarter valued at approximately $31,000. Finally, Private Ocean LLC purchased a new stake in shares of DexCom in the 1st quarter valued at approximately $36,000. 96.13% of the stock is currently owned by institutional investors.

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 G6, a CGM system for diabetes management; DexCom G5 mobile CGM 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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