Zacks Investment Research upgraded shares of DexCom (NASDAQ:DXCM) from a sell rating to a hold rating in a report released on Friday.
According to Zacks, “Dexcom’s is well positioned in the MedTech space, courtesy of solid contribution from Sensor revenues, Transmitter revenues and Receiver revenues in the last few quarters. The glucose monitoring market represents significant commercial opportunity for DexCom. The company’s solid foothold in the international markets, especially Germany, broad spectrum of products and strategic collaborations, are promising. On the flip side, Dexcom’s share price movement in the past year has been unimpressive. Cutthroat competition in the market for blood & glucose monitoring devices is a headwind for DexCom at the moment. We believe the company’s margins will continue to be under pressure in the coming quarters, owing to high product development costs and rising expenditures on research & development. Lower expected margins on transmitter sales are also a cause of concern.”
Several other brokerages have also recently issued reports on DXCM. BidaskClub cut shares of DexCom from a buy rating to a hold rating in a research note on Tuesday, February 27th. Northcoast Research reissued a buy rating on shares of DexCom in a research note on Sunday, March 4th. ValuEngine cut shares of DexCom from a hold rating to a sell rating in a research note on Thursday, February 8th. Barclays reissued a hold rating and issued a $60.00 price objective on shares of DexCom in a research note on Monday, January 8th. Finally, Piper Jaffray Companies set a $60.00 price objective on shares of DexCom and gave the company a buy rating in a research note on Monday, February 26th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and fourteen have given a buy rating to the company. DexCom has a consensus rating of Buy and a consensus target price of $65.97.
DexCom (NASDAQ:DXCM) last announced its quarterly earnings data on Tuesday, February 27th. The medical device company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.07. The company had revenue of $221.00 million for the quarter, compared to analysts’ expectations of $217.82 million. DexCom had a negative net margin of 6.99% and a negative return on equity of 13.99%. sell-side analysts anticipate that DexCom will post -0.56 EPS for the current fiscal year.
In related news, Chairman Terrance H. Gregg sold 10,000 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $55.91, for a total value of $559,100.00. Following the sale, the chairman now directly owns 484,559 shares in the company, valued at approximately $27,091,693.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Richard Doubleday sold 1,638 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $56.32, for a total transaction of $92,252.16. Following the completion of the sale, the executive vice president now owns 65,049 shares in the company, valued at $3,663,559.68. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,908 shares of company stock worth $1,401,535. Corporate insiders own 1.70% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in DXCM. Dimensional Fund Advisors LP boosted its position in shares of DexCom by 16.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 126,674 shares of the medical device company’s stock worth $9,267,000 after buying an additional 17,521 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in DexCom by 12.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,254 shares of the medical device company’s stock valued at $238,000 after purchasing an additional 354 shares in the last quarter. State of Wisconsin Investment Board lifted its holdings in DexCom by 169.7% in the 3rd quarter. State of Wisconsin Investment Board now owns 184,765 shares of the medical device company’s stock valued at $9,040,000 after purchasing an additional 116,254 shares in the last quarter. Swiss National Bank lifted its holdings in DexCom by 3.4% in the 3rd quarter. Swiss National Bank now owns 318,400 shares of the medical device company’s stock valued at $15,578,000 after purchasing an additional 10,500 shares in the last quarter. Finally, FDx Advisors Inc. lifted its holdings in DexCom by 47.5% in the 3rd quarter. FDx Advisors Inc. now owns 17,307 shares of the medical device company’s stock valued at $847,000 after purchasing an additional 5,576 shares in the last quarter.
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DexCom Company Profile
Dexcom, Inc (Dexcom) is a medical device company. The Company is focused on the design, development and commercialization of continuous glucose monitoring (CGM) systems for ambulatory use by people with diabetes and for use by healthcare providers. The Company’s products consist of DexCom G4 PLATINUM and DexCom G5 Mobile.
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