DexCom (NASDAQ:DXCM) Downgraded to “Neutral” at Robert W. Baird

Robert W. Baird lowered shares of DexCom (NASDAQ:DXCM) from an outperform rating to a neutral rating in a research note published on Friday, Marketbeat reports. They currently have $80.00 price target on the medical device company’s stock, down from their prior price target of $161.00.

Several other research analysts also recently weighed in on the stock. JPMorgan Chase & Co. downgraded shares of DexCom from an overweight rating to a neutral rating and decreased their target price for the company from $145.00 to $75.00 in a research note on Friday. UBS Group upped their target price on shares of DexCom from $153.00 to $163.00 and gave the company a buy rating in a research note on Wednesday, April 10th. Redburn Atlantic began coverage on shares of DexCom in a research note on Thursday, May 30th. They issued a neutral rating and a $130.00 target price for the company. Citigroup upped their target price 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 decreased their target price on shares of DexCom from $132.00 to $120.00 and set an equal weight rating for the company in a research note on Monday, July 15th. Seven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, DexCom has an average rating of Moderate Buy and a consensus price target of $113.06.

DexCom Price Performance

DXCM opened at $64.00 on Friday. The company has a quick ratio of 2.53, a current ratio of 2.90 and a debt-to-equity ratio of 1.08. DexCom has a 52-week low of $62.34 and a 52-week high of $142.00. The company has a 50 day moving average of $115.28 and a two-hundred day moving average of $123.83. The company has a market cap of $25.45 billion, a P/E ratio of 41.29, a P/E/G ratio of 2.64 and a beta of 1.16.

DexCom (NASDAQ:DXCM) last released its quarterly earnings data on Thursday, July 25th. The medical device company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.04. The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $1.04 billion. DexCom had a net margin of 16.95% and a return on equity of 32.27%. DexCom’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.34 earnings per share. On average, analysts expect that DexCom will post 1.78 earnings per share for the current year.

Insiders Place Their Bets

In other DexCom news, EVP Michael Jon Brown sold 629 shares of the stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $126.25, for a total transaction of $79,411.25. Following the sale, the executive vice president now directly owns 68,212 shares of the company’s stock, valued at $8,611,765. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Bridgette P. Heller sold 1,000 shares of the stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $113.55, for a total value of $113,550.00. Following the sale, the director now owns 25,349 shares of the company’s stock, valued at approximately $2,878,378.95. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Michael Jon Brown sold 629 shares of the stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $126.25, for a total transaction of $79,411.25. Following the completion of the sale, the executive vice president now directly owns 68,212 shares in the company, valued at approximately $8,611,765. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,112 shares of company stock valued at $480,861. Company insiders own 0.30% of the company’s stock.

Institutional Trading of DexCom

A number of large investors have recently modified their holdings of DXCM. Capital World Investors increased its holdings in shares of DexCom by 130.7% in the 4th quarter. Capital World Investors now owns 9,278,685 shares of the medical device company’s stock worth $1,151,392,000 after acquiring an additional 5,256,092 shares during the period. Norges Bank acquired a new stake in shares of DexCom in the 4th quarter worth about $540,178,000. Artisan Partners Limited Partnership increased its holdings in shares of DexCom by 164.8% in the 4th quarter. Artisan Partners Limited Partnership now owns 5,900,308 shares of the medical device company’s stock worth $732,169,000 after acquiring an additional 3,672,471 shares during the period. Capital Research Global Investors increased its holdings in shares of DexCom by 21.4% in the 4th quarter. Capital Research Global Investors now owns 15,296,032 shares of the medical device company’s stock worth $1,898,085,000 after acquiring an additional 2,695,296 shares during the period. Finally, Massachusetts Financial Services Co. MA bought a new position in DexCom in the 4th quarter valued at about $231,773,000. Institutional investors and hedge funds 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.