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

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

Other equities research analysts have also recently issued reports about the stock. Baird R W cut shares of DexCom from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 26th. Royal Bank of Canada decreased their target price on shares of DexCom from $120.00 to $115.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Canaccord Genuity Group restated a “buy” rating and issued a $145.00 price target on shares of DexCom in a research report on Tuesday, July 23rd. Robert W. Baird lifted their price objective on DexCom from $80.00 to $82.00 and gave the stock a “neutral” rating in a research report on Monday, August 5th. Finally, Morgan Stanley lowered their price objective on DexCom from $120.00 to $75.00 and set an “equal weight” 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 issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, DexCom presently has a consensus rating of “Moderate Buy” and an average price target of $104.59.

DexCom Trading Down 0.2 %

DXCM opened at $70.35 on Friday. DexCom has a 12 month low of $62.34 and a 12 month high of $142.00. The company has a current ratio of 2.46, a quick ratio of 2.12 and a debt-to-equity ratio of 1.23. The stock has a 50-day moving average of $69.85 and a 200 day moving average of $95.92. The firm has a market cap of $27.48 billion, a P/E ratio of 42.13, a P/E/G ratio of 2.20 and a beta of 1.18.

Insiders Place Their Bets

In related news, EVP Sadie Stern sold 426 shares of the company’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 $29,457.90. Following the sale, the executive vice president now owns 75,451 shares in the company, valued at $5,217,436.65. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, COO Jacob Steven Leach sold 746 shares of the business’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 $51,585.90. Following the completion of the sale, the chief operating officer now owns 264,915 shares of the company’s stock, valued at approximately $18,318,872.25. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 transaction of $29,457.90. Following the sale, the executive vice president now owns 75,451 shares of the company’s stock, valued at approximately $5,217,436.65. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On DexCom

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in DexCom by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 44,603,745 shares of the medical device company’s stock worth $6,186,539,000 after buying an additional 136,282 shares during the last quarter. Blair William & Co. IL grew its stake in shares of DexCom by 1.4% in the first quarter. Blair William & Co. IL now owns 4,532,687 shares of the medical device company’s stock worth $628,684,000 after acquiring an additional 64,683 shares during the period. Legal & General Group Plc raised its holdings in shares of DexCom by 1.7% during the second quarter. Legal & General Group Plc now owns 2,993,049 shares of the medical device company’s stock valued at $339,352,000 after purchasing an additional 49,076 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in DexCom by 16.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,439,033 shares of the medical device company’s stock valued at $276,538,000 after purchasing an additional 353,019 shares during the period. Finally, 1832 Asset Management L.P. boosted its holdings in DexCom by 1.1% in the first quarter. 1832 Asset Management L.P. now owns 1,823,400 shares of the medical device company’s stock worth $252,906,000 after purchasing an additional 20,400 shares during the last quarter. 97.75% of the stock is currently owned by 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.