DexCom (NASDAQ:DXCM) Downgraded by StockNews.com to Hold

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

Several other equities research analysts have also recently issued reports on DXCM. Barclays cut their target price on DexCom from $138.00 to $113.00 and set an “equal weight” rating for the company in a research note on Monday, July 29th. JPMorgan Chase & Co. cut DexCom from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $145.00 to $75.00 in a research note on Friday, July 26th. Stifel Nicolaus raised their target price on DexCom from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Royal Bank of Canada cut their target price on DexCom from $165.00 to $145.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. Finally, Robert W. Baird lifted their price objective on DexCom from $80.00 to $82.00 and gave the company a “neutral” rating in a research note on Monday, August 5th. Seven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $112.25.

DexCom Price Performance

DXCM stock traded up $1.10 during mid-day trading on Wednesday, reaching $67.10. 3,770,544 shares of the company’s stock were exchanged, compared to its average volume of 3,808,339. The company has a market cap of $26.68 billion, a price-to-earnings ratio of 43.29, a price-to-earnings-growth ratio of 2.16 and a beta of 1.18. The stock’s 50 day moving average is $70.95 and its 200 day moving average is $105.89. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.82 and a quick ratio of 2.48. DexCom has a 12-month low of $62.34 and a 12-month high of $142.00.

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

Insider Activity at DexCom

In other DexCom news, EVP Michael Jon Brown sold 652 shares of DexCom stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $69.55, for a total transaction of $45,346.60. Following the completion of the sale, the executive vice president now directly owns 66,249 shares of the company’s stock, valued at approximately $4,607,617.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other DexCom news, EVP Michael Jon Brown sold 652 shares of DexCom stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $69.55, for a total transaction of $45,346.60. Following the completion of the sale, the executive vice president now directly owns 66,249 shares of the company’s stock, valued at approximately $4,607,617.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jacob Steven Leach sold 746 shares of the business’s stock in a transaction dated 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 sale, the chief operating officer now directly owns 264,915 shares of the company’s stock, valued at $18,318,872.25. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,824 shares of company stock worth $126,390. Company insiders own 0.30% of the company’s stock.

Institutional Trading of DexCom

Several institutional investors and hedge funds have recently made changes to their positions in the company. Team Hewins LLC lifted its holdings in shares of DexCom by 3.4% in the 1st quarter. Team Hewins LLC now owns 2,555 shares of the medical device company’s stock valued at $354,000 after purchasing an additional 83 shares during the last quarter. Bleakley Financial Group LLC increased its position in DexCom by 1.3% in the 1st quarter. Bleakley Financial Group LLC now owns 6,856 shares of the medical device company’s stock valued at $951,000 after acquiring an additional 87 shares during the period. Capital Insight Partners LLC increased its position in DexCom by 2.5% in the 2nd quarter. Capital Insight Partners LLC now owns 3,690 shares of the medical device company’s stock valued at $418,000 after acquiring an additional 90 shares during the period. Gulf International Bank UK Ltd increased its position in DexCom by 0.3% in the 1st quarter. Gulf International Bank UK Ltd now owns 32,075 shares of the medical device company’s stock valued at $4,448,000 after acquiring an additional 93 shares during the period. Finally, Harbor Investment Advisory LLC increased its position in DexCom by 13.1% in the 1st quarter. Harbor Investment Advisory LLC now owns 864 shares of the medical device company’s stock valued at $120,000 after acquiring an additional 100 shares during the period. 97.75% of the stock is 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.