DexCom, Inc. (NASDAQ:DXCM) Stock Rating Reaffirmed by Piper Jaffray Companies

DexCom, Inc. (NASDAQ:DXCM)‘s stock had its “buy” rating reissued by Piper Jaffray Companies in a note issued to investors on Wednesday, July 12th. They currently have a $78.00 price objective on the medical device company’s stock. Piper Jaffray Companies’ price objective points to a potential upside of 12.07% from the stock’s current price.

DXCM has been the subject of a number of other reports. BidaskClub lowered DexCom from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. Canaccord Genuity reissued a “buy” rating and set a $90.00 price objective on shares of DexCom in a report on Wednesday, June 7th. Jefferies Group LLC decreased their price objective on DexCom to $91.00 and set a “buy” rating for the company in a report on Tuesday, May 9th. B. Riley reaffirmed a “buy” rating and issued a $95.00 target price on shares of DexCom in a report on Sunday, May 7th. Finally, Oppenheimer Holdings, Inc. set a $98.00 price objective on DexCom and gave the company a “buy” rating in a report on Wednesday, May 3rd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and fifteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $87.00.

Shares of DexCom (NASDAQ:DXCM) opened at 69.60 on Wednesday. The stock’s 50 day moving average is $71.12 and its 200-day moving average is $75.17. The firm’s market cap is $6.02 billion. DexCom has a 52-week low of $57.68 and a 52-week high of $96.38.

DexCom (NASDAQ:DXCM) last posted its quarterly earnings results on Tuesday, August 1st. The medical device company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.07. DexCom had a negative return on equity of 27.90% and a negative net margin of 10.27%. The business had revenue of $170.60 million for the quarter, compared to the consensus estimate of $166.54 million. During the same period in the prior year, the business earned ($0.24) EPS. The firm’s revenue for the quarter was up 24.3% on a year-over-year basis. Equities analysts anticipate that DexCom will post ($0.77) earnings per share for the current fiscal year.

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In related news, EVP Andrew K. Balo sold 3,244 shares of the firm’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $71.18, for a total value of $230,907.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Kevin R. Sayer sold 8,649 shares of the firm’s stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $68.39, for a total value of $591,505.11. Following the completion of the sale, the chief executive officer now directly owns 347,329 shares in the company, valued at $23,753,830.31. The disclosure for this sale can be found here. Insiders sold 36,375 shares of company stock worth $2,549,351 over the last three months. 1.70% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the company. Sit Investment Associates Inc. raised its stake in shares of DexCom by 159.8% in the first quarter. Sit Investment Associates Inc. now owns 23,900 shares of the medical device company’s stock valued at $2,025,000 after buying an additional 14,700 shares during the period. Morgan Stanley raised its position in DexCom by 18.0% in the first quarter. Morgan Stanley now owns 2,092,962 shares of the medical device company’s stock valued at $177,336,000 after buying an additional 319,631 shares during the last quarter. DUPONT CAPITAL MANAGEMENT Corp acquired a new position in DexCom during the first quarter valued at about $270,000. Swiss National Bank raised its position in DexCom by 28.4% in the first quarter. Swiss National Bank now owns 299,500 shares of the medical device company’s stock valued at $25,377,000 after buying an additional 66,200 shares during the last quarter. Finally, Teachers Advisors LLC raised its position in DexCom by 4.0% in the fourth quarter. Teachers Advisors LLC now owns 184,560 shares of the medical device company’s stock valued at $11,018,000 after buying an additional 7,050 shares during the last quarter.

About DexCom

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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