JPMorgan Chase & Co. Lowers DexCom (NASDAQ:DXCM) to Neutral

DexCom (NASDAQ:DXCM) was downgraded by stock analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research report issued on Friday, Briefing.com reports. They currently have a $75.00 target price on the medical device company’s stock, down from their previous target price of $145.00. JPMorgan Chase & Co.‘s price objective would indicate a potential downside of 30.46% from the company’s previous close.

A number of other brokerages have also recently commented on DXCM. Raymond James lifted their price target on DexCom from $151.00 to $160.00 and gave the stock a “strong-buy” rating in a research note on Friday, April 26th. StockNews.com cut DexCom from a “buy” rating to a “hold” rating in a research note on Monday, June 10th. Citigroup boosted their target price on DexCom from $148.00 to $161.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. UBS Group boosted their target price on DexCom from $153.00 to $163.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Finally, Redburn Atlantic initiated coverage on DexCom in a research note on Thursday, May 30th. They set a “neutral” rating and a $130.00 target price on the stock. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, DexCom has a consensus rating of “Moderate Buy” and an average price target of $134.33.

DexCom Stock Performance

NASDAQ:DXCM opened at $107.85 on Friday. The business has a 50 day moving average of $116.63 and a 200 day moving average of $124.29. The company has a market capitalization of $42.89 billion, a price-to-earnings ratio of 69.58, a PEG ratio of 2.74 and a beta of 1.16. DexCom has a 1-year low of $74.75 and a 1-year high of $142.00. The company has a debt-to-equity ratio of 1.08, a current ratio of 2.90 and a quick ratio of 2.53.

DexCom (NASDAQ:DXCM) last released its earnings results on Thursday, April 25th. The medical device company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. The company had revenue of $921.00 million during the quarter, compared to the consensus estimate of $911.20 million. DexCom had a return on equity of 31.01% and a net margin of 16.82%. On average, sell-side analysts predict that DexCom will post 1.78 earnings per share for the current fiscal year.

Insider Activity at DexCom

In related news, Director Bridgette P. Heller sold 1,000 shares of the company’s stock in a transaction on 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 sale, the director now owns 25,349 shares in the company, valued at $2,878,378.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Bridgette P. Heller sold 1,000 shares of the 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 sale, the director now owns 25,349 shares in the company, valued at $2,878,378.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 value of $79,411.25. Following the sale, the executive vice president now owns 68,212 shares of the company’s stock, valued at approximately $8,611,765. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,112 shares of company stock worth $480,861. 0.30% of the stock is owned by insiders.

Institutional Trading of DexCom

Several institutional investors have recently made changes to their positions in the business. Team Hewins LLC grew its position in shares of DexCom by 3.4% during the first quarter. Team Hewins LLC now owns 2,555 shares of the medical device company’s stock worth $354,000 after purchasing an additional 83 shares in the last quarter. Bleakley Financial Group LLC boosted its stake in DexCom by 1.3% during the first quarter. Bleakley Financial Group LLC now owns 6,856 shares of the medical device company’s stock valued at $951,000 after buying an additional 87 shares during the last quarter. Capital Insight Partners LLC boosted its stake in DexCom by 2.5% during the second quarter. Capital Insight Partners LLC now owns 3,690 shares of the medical device company’s stock valued at $418,000 after buying an additional 90 shares during the last quarter. D Orazio & Associates Inc. lifted its stake in shares of DexCom by 0.8% in the 4th quarter. D Orazio & Associates Inc. now owns 12,366 shares of the medical device company’s stock valued at $1,534,000 after purchasing an additional 93 shares during the last quarter. Finally, Gulf International Bank UK Ltd lifted its stake in shares of DexCom by 0.3% in the 1st quarter. Gulf International Bank UK Ltd now owns 32,075 shares of the medical device company’s stock valued at $4,448,000 after purchasing an additional 93 shares during the last quarter. Hedge funds and other institutional investors own 97.75% 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 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.