DexCom (NASDAQ:DXCM) Lifted to Buy at Guggenheim

Guggenheim upgraded shares of DexCom (NASDAQ:DXCM) from a neutral rating to a buy rating in a research note published on Thursday morning, The Fly reports.

DXCM has been the subject of several other research reports. Canaccord Genuity raised their price target on shares of DexCom from $160.00 to $185.00 and gave the company a buy rating in a research report on Thursday, August 1st. Bank of America raised their price target on shares of DexCom from $162.00 to $185.00 and gave the company a buy rating in a research report on Thursday, August 1st. BTIG Research reissued a hold rating on shares of DexCom in a research report on Thursday, August 1st. Zacks Investment Research raised shares of DexCom from a hold rating to a buy rating and set a $154.00 price target for the company in a research report on Friday, October 25th. Finally, Piper Jaffray Companies set a $182.00 price target on shares of DexCom and gave the company a buy rating in a research report on Monday, September 23rd. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $190.67.

Shares of DexCom stock traded up $3.38 during trading on Thursday, reaching $198.08. 2,580,200 shares of the stock were exchanged, compared to its average volume of 1,138,483. The firm has a market cap of $14.00 billion, a price-to-earnings ratio of 660.27 and a beta of 0.64. The company has a quick ratio of 5.64, a current ratio of 6.05 and a debt-to-equity ratio of 1.56. The stock’s fifty day moving average is $155.57 and its 200 day moving average is $146.29. DexCom has a 1 year low of $105.05 and a 1 year high of $200.80.

DexCom (NASDAQ:DXCM) last announced its quarterly earnings results on Wednesday, November 6th. The medical device company reported $0.65 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.45. The company had revenue of $396.30 million during the quarter, compared to the consensus estimate of $348.99 million. DexCom had a negative net margin of 13.96% and a positive return on equity of 10.41%. The firm’s quarterly revenue was up 48.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.17 earnings per share. Equities analysts forecast that DexCom will post 0.94 earnings per share for the current year.

In other DexCom news, EVP Richard Doubleday sold 2,016 shares of DexCom stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $175.14, for a total value of $353,082.24. Following the completion of the sale, the executive vice president now owns 72,570 shares of the company’s stock, valued at approximately $12,709,909.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Nicholas Augustinos sold 1,208 shares of DexCom stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $185.29, for a total transaction of $223,830.32. The disclosure for this sale can be found here. In the last ninety days, insiders sold 105,222 shares of company stock valued at $16,407,406. 1.80% of the stock is currently owned by insiders.

Institutional investors have recently modified their holdings of the company. Gradient Investments LLC purchased a new position in shares of DexCom during the 2nd quarter worth $25,000. Virtus ETF Advisers LLC purchased a new position in shares of DexCom during the 2nd quarter worth $29,000. CSat Investment Advisory L.P. purchased a new position in shares of DexCom during the 2nd quarter worth $31,000. Steward Partners Investment Advisory LLC purchased a new position in shares of DexCom during the 2nd quarter worth $31,000. Finally, Wealthcare Advisory Partners LLC purchased a new position in shares of DexCom during the 2nd quarter worth $37,000. Institutional investors and hedge funds own 96.19% of the company’s stock.

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 offers its systems for ambulatory use by people with diabetes; and for use by healthcare providers. Its products include DexCom G6, a CGM system for diabetes management; DexCom G5 mobile CGM 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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