Piper Jaffray Companies Increases DexCom (DXCM) Price Target to $157.00

DexCom (NASDAQ:DXCM) had its price target hoisted by Piper Jaffray Companies to $157.00 in a research report report published on Wednesday morning, The Fly reports. Piper Jaffray Companies currently has an overweight rating on the medical device company’s stock. Piper Jaffray Companies also issued estimates for DexCom’s Q4 2018 earnings at $0.09 EPS, FY2018 earnings at ($0.16) EPS, Q2 2019 earnings at $0.10 EPS, Q3 2019 earnings at $0.18 EPS, Q4 2019 earnings at $0.20 EPS, FY2019 earnings at $0.13 EPS and FY2020 earnings at $0.56 EPS.

Several other equities research analysts also recently issued reports on DXCM. BMO Capital Markets raised their price target on DexCom to $112.00 and gave the company an outperform rating in a research report on Tuesday, July 10th. ValuEngine raised DexCom from a buy rating to a strong-buy rating in a research report on Wednesday, July 11th. BidaskClub downgraded DexCom from a strong-buy rating to a buy rating in a research report on Tuesday, July 31st. Oppenheimer set a $125.00 price target on DexCom and gave the company a buy rating in a research report on Thursday, August 2nd. Finally, Jefferies Financial Group raised their price target on DexCom from $115.00 to $125.00 and gave the company a buy rating in a research report on Thursday, August 2nd. Seven analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. DexCom currently has an average rating of Buy and a consensus target price of $132.50.

NASDAQ DXCM traded up $1.05 during trading on Wednesday, hitting $149.46. 1,594,508 shares of the company traded hands, compared to its average volume of 1,254,658. DexCom has a 12 month low of $49.80 and a 12 month high of $152.14. The company has a debt-to-equity ratio of 0.60, a current ratio of 4.71 and a quick ratio of 4.62. The firm has a market cap of $12.85 billion, a P/E ratio of -257.69 and a beta of 0.60.

DexCom (NASDAQ:DXCM) last issued its quarterly earnings results on Tuesday, November 6th. The medical device company reported $0.17 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.12) by $0.29. The company had revenue of $266.70 million for the quarter, compared to the consensus estimate of $242.72 million. DexCom had a negative return on equity of 2.89% and a net margin of 4.72%. The firm’s quarterly revenue was up 44.5% on a year-over-year basis. On average, equities analysts expect that DexCom will post -0.22 EPS for the current year.

In other DexCom news, EVP Steven Robert Pacelli sold 3,114 shares of DexCom stock in a transaction that occurred on Tuesday, October 23rd. The stock was sold at an average price of $128.85, for a total transaction of $401,238.90. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Patrick Michael Murphy sold 2,372 shares of DexCom stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $143.69, for a total value of $340,832.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 157,892 shares of company stock worth $21,864,030. 1.80% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State Board of Administration of Florida Retirement System boosted its holdings in DexCom by 0.4% during the second quarter. State Board of Administration of Florida Retirement System now owns 120,747 shares of the medical device company’s stock valued at $11,469,000 after purchasing an additional 470 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of DexCom by 9.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,552 shares of the medical device company’s stock valued at $527,000 after acquiring an additional 471 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its stake in shares of DexCom by 7.6% in the second quarter. Metropolitan Life Insurance Co. NY now owns 6,879 shares of the medical device company’s stock valued at $653,000 after acquiring an additional 486 shares during the last quarter. Xact Kapitalforvaltning AB raised its stake in shares of DexCom by 4.1% in the second quarter. Xact Kapitalforvaltning AB now owns 12,700 shares of the medical device company’s stock valued at $1,206,000 after acquiring an additional 500 shares during the last quarter. Finally, Oppenheimer & Co. Inc. raised its stake in shares of DexCom by 23.8% in the third quarter. Oppenheimer & Co. Inc. now owns 3,282 shares of the medical device company’s stock valued at $469,000 after acquiring an additional 630 shares during the last quarter.

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 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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