Robert W. Baird Downgrades DexCom (NASDAQ:DXCM) to Neutral

Robert W. Baird lowered shares of DexCom (NASDAQ:DXCM) from an outperform rating to a neutral rating in a research report released on Friday, MarketBeat reports. The firm currently has $80.00 price target on the medical device company’s stock, down from their prior price target of $161.00.

DXCM has been the subject of a number of other reports. StockNews.com cut shares of DexCom from a buy rating to a hold rating in a report on Monday, June 10th. Stifel Nicolaus dropped their price objective on shares of DexCom from $145.00 to $132.00 and set a buy rating on the stock in a research note on Friday, July 12th. Raymond James raised their price objective on shares of DexCom from $151.00 to $160.00 and gave the company a strong-buy rating in a research note on Friday, April 26th. Citigroup raised their price objective on shares of DexCom from $148.00 to $161.00 and gave the company a buy rating in a research note on Wednesday, April 3rd. Finally, Morgan Stanley dropped their price objective on shares of DexCom from $132.00 to $120.00 and set an equal weight rating on the stock in a research note on Monday, July 15th. Seven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $111.50.

DexCom Trading Up 5.4 %

NASDAQ:DXCM opened at $67.48 on Friday. The company has a current ratio of 2.82, a quick ratio of 2.48 and a debt-to-equity ratio of 1.00. The stock has a market capitalization of $27.04 billion, a price-to-earnings ratio of 43.54, a PEG ratio of 1.58 and a beta of 1.16. The firm has a fifty day simple moving average of $114.02 and a two-hundred day simple moving average of $123.33. DexCom has a 12 month low of $62.34 and a 12 month high of $142.00.

DexCom (NASDAQ:DXCM) last posted its quarterly earnings results on Thursday, July 25th. The medical device company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.04. The business had revenue of $1 billion during the quarter, compared to analysts’ expectations of $1.04 billion. DexCom had a net margin of 16.95% and a return on equity of 31.41%. The business’s quarterly revenue was up 15.3% on a year-over-year basis. During the same period last year, the company posted $0.34 earnings per share. Analysts expect that DexCom will post 1.76 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Bridgette P. Heller sold 1,000 shares of the firm’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $113.55, for a total transaction of $113,550.00. Following the completion of the sale, the director now owns 25,349 shares in the company, valued at $2,878,378.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Michael Jon Brown sold 659 shares of DexCom stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $114.29, for a total value of $75,317.11. Following the completion of the transaction, the executive vice president now owns 66,901 shares in the company, valued at $7,646,115.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bridgette P. Heller sold 1,000 shares of DexCom stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $113.55, for a total transaction of $113,550.00. Following the completion of the transaction, the director now owns 25,349 shares of the company’s stock, valued at approximately $2,878,378.95. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,483 shares of company stock worth $401,450. Insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On DexCom

Several large investors have recently modified their holdings of DXCM. Washington Trust Advisors Inc. increased its stake in shares of DexCom by 120.6% in the fourth quarter. Washington Trust Advisors Inc. now owns 353 shares of the medical device company’s stock worth $44,000 after purchasing an additional 193 shares in the last quarter. Inscription Capital LLC purchased a new position in DexCom during the fourth quarter valued at approximately $248,000. Caprock Group LLC grew its stake in DexCom by 2.2% during the fourth quarter. Caprock Group LLC now owns 17,993 shares of the medical device company’s stock valued at $2,233,000 after acquiring an additional 382 shares in the last quarter. Patriot Financial Group Insurance Agency LLC grew its stake in DexCom by 4.6% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 10,917 shares of the medical device company’s stock valued at $1,355,000 after acquiring an additional 483 shares in the last quarter. Finally, Quent Capital LLC grew its stake in DexCom by 11.6% during the fourth quarter. Quent Capital LLC now owns 2,545 shares of the medical device company’s stock valued at $316,000 after acquiring an additional 265 shares in the last quarter. Hedge funds and other institutional investors own 97.75% of the company’s stock.

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.