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

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

A number of other research analysts have also recently commented on DXCM. JPMorgan Chase & Co. cut DexCom from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $145.00 to $75.00 in a report on Friday, July 26th. Royal Bank of Canada reduced their price objective on DexCom from $165.00 to $145.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. Barclays reduced their price objective on DexCom from $138.00 to $113.00 and set an “equal weight” rating on the stock in a research note on Monday, July 29th. UBS Group reduced their price objective on DexCom from $163.00 to $95.00 and set a “buy” rating on the stock in a research note on Friday, July 26th. Finally, Wells Fargo & Company reduced their price objective on DexCom from $145.00 to $80.00 and set an “overweight” rating on the stock in a research note on Friday, July 26th. Seven investment 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’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $112.25.

DexCom Stock Performance

Shares of DXCM stock traded up $1.10 during trading hours on Wednesday, reaching $67.10. 3,770,544 shares of the company traded hands, compared to its average volume of 3,808,339. DexCom has a 12-month low of $62.34 and a 12-month high of $142.00. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.82 and a quick ratio of 2.48. The company has a market cap of $26.68 billion, a P/E ratio of 43.29, a P/E/G ratio of 2.16 and a beta of 1.18. The firm has a 50-day moving average price of $70.95 and a 200 day moving average price of $105.89.

DexCom (NASDAQ:DXCM) last posted its quarterly earnings data on Thursday, July 25th. The medical device company reported $0.43 earnings per share for the quarter, beating 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 analysts’ expectations of $1.04 billion. During the same period in the previous year, the firm earned $0.34 EPS. The business’s quarterly revenue was up 15.3% on a year-over-year basis. As a group, sell-side analysts predict that DexCom will post 1.69 earnings per share for the current fiscal year.

Insider Activity at DexCom

In other news, EVP Sadie Stern sold 426 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $69.15, for a total value of $29,457.90. Following the transaction, the executive vice president now directly owns 75,451 shares of the company’s stock, valued at $5,217,436.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Michael Jon Brown sold 652 shares of the firm’s 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 sale, the executive vice president now directly owns 66,249 shares of the company’s stock, valued at $4,607,617.95. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Sadie Stern sold 426 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $69.15, for a total value of $29,457.90. Following the sale, the executive vice president now directly owns 75,451 shares in the company, valued at $5,217,436.65. The disclosure for this sale can be found here. Insiders have sold 1,824 shares of company stock valued at $126,390 in the last ninety days. Corporate insiders own 0.30% of the company’s stock.

Institutional Trading of DexCom

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in DexCom during the second quarter worth about $25,000. Sachetta LLC grew its holdings in DexCom by 255.2% during the second quarter. Sachetta LLC now owns 238 shares of the medical device company’s stock worth $27,000 after acquiring an additional 171 shares during the period. Crewe Advisors LLC purchased a new position in DexCom during the first quarter worth approximately $29,000. Riverview Trust Co purchased a new position in DexCom during the first quarter worth approximately $32,000. Finally, DT Investment Partners LLC boosted its position in DexCom by 492.2% during the second quarter. DT Investment Partners LLC now owns 379 shares of the medical device company’s stock worth $43,000 after purchasing an additional 315 shares in the last quarter. 97.75% of the stock is owned by institutional investors and hedge funds.

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 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.