DexCom (DXCM) Given New $160.00 Price Target at Stephens
DexCom (NASDAQ:DXCM) had its target price hoisted by analysts at Stephens from $135.00 to $160.00 in a note issued to investors on Thursday, August 23rd. The firm currently has an “overweight” rating on the medical device company’s stock. Stephens’ price objective suggests a potential upside of 11.86% from the stock’s current price.
The analysts wrote, “We rate uniQure Overweight. uniQure focuses on the development of gene therapy products for patients suffering from severe genetic diseases. uniQure is in Phase 3 development for the treatment of hemophilia B with AMT-061, and has additional preclinical programs for Huntington’s disease, hemophilia A and cardiovascular disease.””
DXCM has been the subject of several other reports. Oppenheimer set a $125.00 target price on shares of DexCom and gave the company a “buy” rating in a research report on Thursday, August 2nd. Piper Jaffray Companies lifted their target price on shares of DexCom to $150.00 and gave the company an “overweight” rating in a research report on Thursday, August 2nd. Bank of America lifted their target price on shares of DexCom from $106.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday, August 2nd. JPMorgan Chase & Co. upgraded shares of DexCom from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $80.00 to $115.00 in a report on Friday, June 8th. Finally, BMO Capital Markets boosted their price objective on shares of DexCom from $78.00 to $86.00 and gave the stock an “outperformer” rating in a report on Thursday, May 3rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. DexCom presently has an average rating of “Buy” and an average target price of $111.64.
DexCom (NASDAQ:DXCM) last issued its quarterly earnings data on Wednesday, August 1st. The medical device company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.08. DexCom had a negative net margin of 0.65% and a negative return on equity of 7.45%. The company had revenue of $242.50 million during the quarter, compared to analysts’ expectations of $205.81 million. During the same quarter in the previous year, the company earned ($0.16) earnings per share. DexCom’s revenue for the quarter was up 42.1% on a year-over-year basis. equities analysts forecast that DexCom will post -0.47 earnings per share for the current fiscal year.
In other news, CFO Quentin S. Blackford sold 7,149 shares of the company’s stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $143.76, for a total value of $1,027,740.24. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Kevin R. Sayer sold 14,219 shares of the company’s stock in a transaction dated Monday, July 9th. The stock was sold at an average price of $99.79, for a total transaction of $1,418,914.01. The disclosure for this sale can be found here. Over the last three months, insiders have sold 207,322 shares of company stock worth $23,856,914. Insiders own 1.80% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System grew its position in shares of DexCom by 0.4% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 120,747 shares of the medical device company’s stock worth $11,469,000 after buying an additional 470 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in DexCom by 9.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,552 shares of the medical device company’s stock worth $527,000 after purchasing an additional 471 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its stake in DexCom by 7.6% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 6,879 shares of the medical device company’s stock worth $653,000 after purchasing an additional 486 shares in the last quarter. Xact Kapitalforvaltning AB boosted its stake in DexCom by 4.1% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 12,700 shares of the medical device company’s stock worth $1,206,000 after purchasing an additional 500 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in DexCom by 11.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,943 shares of the medical device company’s stock worth $440,000 after purchasing an additional 634 shares in the last quarter.
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 offers its systems for ambulatory use by people with diabetes; and for use by healthcare providers. Its products include DexCom G5 mobile continuous glucose monitoring system to communicate directly to patient's mobile device; DexCom G4 PLATINUM system for continuous use by adults with diabetes; and DexCom Share, a remote monitoring system.
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