DexCom, Inc. (NASDAQ:DXCM) – Oppenheimer raised their Q3 2020 earnings per share (EPS) estimates for shares of DexCom in a research note issued to investors on Tuesday, July 28th. Oppenheimer analyst S. Lichtman now forecasts that the medical device company will post earnings per share of $0.62 for the quarter, up from their previous estimate of $0.58. Oppenheimer currently has a “Buy” rating and a $445.00 target price on the stock. Oppenheimer also issued estimates for DexCom’s Q4 2020 earnings at $0.79 EPS.
Several other research analysts have also weighed in on DXCM. Guggenheim lifted their price objective on DexCom from $385.00 to $395.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Bank of America reissued a “buy” rating and issued a $500.00 price objective on shares of DexCom in a research report on Tuesday, July 28th. Zacks Investment Research lowered DexCom from a “buy” rating to a “hold” rating and set a $430.00 price objective for the company. in a research report on Monday, June 22nd. Cowen lifted their price objective on DexCom from $430.00 to $450.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 7th. Finally, Robert W. Baird boosted their target price on DexCom from $296.00 to $373.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. Seven research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $394.95.
DexCom (NASDAQ:DXCM) last announced its earnings results on Tuesday, July 28th. The medical device company reported $0.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.48. DexCom had a return on equity of 29.01% and a net margin of 11.93%. The business had revenue of $451.80 million during the quarter, compared to analyst estimates of $415.21 million. During the same period last year, the company earned $0.08 EPS. DexCom’s revenue for the quarter was up 34.3% compared to the same quarter last year.
Large investors have recently bought and sold shares of the stock. USA Financial Portformulas Corp raised its holdings in shares of DexCom by 345.4% in the 1st quarter. USA Financial Portformulas Corp now owns 2,677 shares of the medical device company’s stock worth $721,000 after purchasing an additional 2,076 shares during the period. State of Alaska Department of Revenue bought a new stake in shares of DexCom in the 2nd quarter worth approximately $6,653,000. Altshuler Shaham Ltd raised its holdings in shares of DexCom by 663.9% in the 1st quarter. Altshuler Shaham Ltd now owns 466 shares of the medical device company’s stock worth $126,000 after purchasing an additional 405 shares during the period. Advisors Asset Management Inc. raised its holdings in shares of DexCom by 10.3% in the 1st quarter. Advisors Asset Management Inc. now owns 8,175 shares of the medical device company’s stock worth $2,201,000 after purchasing an additional 764 shares during the period. Finally, Capital International Investors bought a new stake in shares of DexCom in the 1st quarter worth approximately $39,735,000. 97.08% of the stock is currently owned by institutional investors.
In other news, EVP Steven Robert Pacelli sold 1,531 shares of the business’s stock in a transaction that occurred on Thursday, July 23rd. The stock was sold at an average price of $427.31, for a total value of $654,211.61. Following the transaction, the executive vice president now owns 51,482 shares in the company, valued at approximately $21,998,773.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Steven R. Altman sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $437.50, for a total value of $875,000.00. Following the completion of the transaction, the director now owns 806 shares in the company, valued at approximately $352,625. The disclosure for this sale can be found here. Insiders have sold a total of 63,293 shares of company stock valued at $24,266,963 in the last quarter. Company insiders own 0.69% 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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