StockNews.com Downgrades DexCom (NASDAQ:DXCM) to Hold

DexCom (NASDAQ:DXCM) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Saturday.

Several other equities research analysts have also commented on DXCM. Wells Fargo & Company lowered their price objective on DexCom from $145.00 to $80.00 and set an “overweight” rating on the stock in a research report on Friday, July 26th. Oppenheimer decreased their price target on shares of DexCom from $150.00 to $115.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. Barclays dropped their price objective on shares of DexCom from $138.00 to $113.00 and set an “equal weight” rating for the company in a report on Monday, July 29th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $145.00 price objective on shares of DexCom in a research report on Tuesday, July 23rd. Finally, Baird R W cut DexCom from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 26th. Seven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, DexCom presently has a consensus rating of “Moderate Buy” and an average target price of $110.69.

DexCom Stock Down 0.5 %

NASDAQ:DXCM opened at $69.21 on Friday. DexCom has a fifty-two week low of $62.34 and a fifty-two week high of $142.00. The company’s 50-day simple moving average is $70.17 and its 200-day simple moving average is $102.36. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.48 and a current ratio of 2.82. The stock has a market capitalization of $27.52 billion, a P/E ratio of 44.65, a P/E/G ratio of 2.16 and a beta of 1.18.

DexCom (NASDAQ:DXCM) last posted its quarterly earnings results on Thursday, July 25th. The medical device company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.04. DexCom had a net margin of 16.95% and a return on equity of 31.41%. The business had revenue of $1 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter last year, the company posted $0.34 earnings per share. The business’s quarterly revenue was up 15.3% on a year-over-year basis. On average, equities analysts anticipate that DexCom will post 1.69 earnings per share for the current fiscal year.

Insider Transactions at DexCom

In related news, COO Jacob Steven Leach sold 746 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $69.15, for a total value of $51,585.90. Following the completion of the transaction, the chief operating officer now directly owns 264,915 shares of the company’s stock, valued at $18,318,872.25. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Michael Jon Brown sold 652 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $69.55, for a total value of $45,346.60. Following the completion of the sale, the executive vice president now directly owns 66,249 shares in the company, valued at approximately $4,607,617.95. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jacob Steven Leach sold 746 shares of DexCom stock in a transaction on Monday, September 9th. The shares were sold at an average price of $69.15, for a total value of $51,585.90. Following the completion of the transaction, the chief operating officer now owns 264,915 shares in the company, valued at $18,318,872.25. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,824 shares of company stock worth $126,390. Company insiders own 0.30% of the company’s stock.

Institutional Investors Weigh In On DexCom

Several institutional investors have recently bought and sold shares of the business. Congress Asset Management Co. MA boosted its stake in shares of DexCom by 2,076.3% during the 4th quarter. Congress Asset Management Co. MA now owns 1,126,382 shares of the medical device company’s stock valued at $139,773,000 after buying an additional 1,074,626 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in DexCom by 189.1% during the second quarter. Canada Pension Plan Investment Board now owns 665,646 shares of the medical device company’s stock valued at $75,471,000 after buying an additional 435,401 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in DexCom by 16.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,439,033 shares of the medical device company’s stock worth $276,538,000 after buying an additional 353,019 shares during the last quarter. Bellevue Group AG boosted its position in shares of DexCom by 33.5% in the 1st quarter. Bellevue Group AG now owns 1,221,197 shares of the medical device company’s stock valued at $169,380,000 after purchasing an additional 306,604 shares during the period. Finally, Magnetar Financial LLC acquired a new position in DexCom in the 2nd quarter worth approximately $31,793,000. 97.75% of the stock is currently owned by hedge funds and other institutional investors.

About DexCom

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 provides its systems for use by people with diabetes, as well as for use by healthcare providers. Its products include Dexcom G6 and Dexcom G7, integrated CGM systems for diabetes management; Dexcom Share, a remote monitoring system; Dexcom Real-Time API, which enables authorized third-party software developers to integrate real-time CGM data into their digital health apps and devices; and Dexcom ONE, that is designed to replace finger stick blood glucose testing for diabetes treatment decisions.