DexCom (NASDAQ:DXCM) Downgraded by JPMorgan Chase & Co. to “Neutral”

JPMorgan Chase & Co. lowered shares of DexCom (NASDAQ:DXCM) from an overweight rating to a neutral rating in a research note released on Friday, Marketbeat Ratings reports. The firm currently has $75.00 price objective on the medical device company’s stock, down from their prior price objective of $145.00.

Several other analysts have also recently issued reports on DXCM. Canaccord Genuity Group reaffirmed a buy rating and set a $145.00 price objective on shares of DexCom in a report on Tuesday, July 23rd. Stifel Nicolaus decreased their price target on DexCom from $145.00 to $132.00 and set a buy rating on the stock in a report on Friday, July 12th. Citigroup increased their price target on DexCom from $148.00 to $161.00 and gave the company a buy rating in a report on Wednesday, April 3rd. UBS Group increased their price target on DexCom from $153.00 to $163.00 and gave the company a buy rating in a report on Wednesday, April 10th. Finally, Morgan Stanley decreased their price target on DexCom from $132.00 to $120.00 and set an equal weight rating on the stock in a report on Monday, July 15th. Seven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $111.50.

DexCom Stock Up 5.4 %

Shares of DXCM opened at $67.48 on Friday. The stock has a market capitalization of $27.04 billion, a price-to-earnings ratio of 43.54, a price-to-earnings-growth ratio of 1.58 and a beta of 1.16. DexCom has a 1 year low of $62.34 and a 1 year high of $142.00. The business’s 50 day simple moving average is $114.02 and its 200-day simple moving average is $123.33. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.82 and a quick ratio of 2.48.

DexCom (NASDAQ:DXCM) last issued 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 business had revenue of $1 billion for the quarter, compared to analysts’ expectations of $1.04 billion. DexCom had a return on equity of 31.41% and a net margin of 16.95%. The company’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.34 EPS. As a group, equities analysts expect that DexCom will post 1.76 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Michael Jon Brown sold 659 shares of the stock in a transaction on Friday, June 28th. The stock was sold at an average price of $114.29, for a total transaction of $75,317.11. Following the transaction, the executive vice president now owns 66,901 shares of the company’s stock, valued at approximately $7,646,115.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Sadie Stern sold 427 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $115.05, for a total transaction of $49,126.35. Following the transaction, the executive vice president now owns 75,877 shares of the company’s stock, valued at approximately $8,729,648.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Michael Jon Brown sold 659 shares of the stock in a transaction on Friday, June 28th. The stock was sold at an average price of $114.29, for a total value of $75,317.11. Following the transaction, the executive vice president now directly owns 66,901 shares in the company, valued at approximately $7,646,115.29. The disclosure for this sale can be found here. Insiders have sold a total of 3,483 shares of company stock worth $401,450 over the last quarter. Company insiders own 0.30% of the company’s stock.

Institutional Investors Weigh In On DexCom

A number of institutional investors have recently added to or reduced their stakes in DXCM. Capital World Investors boosted its position in DexCom by 130.7% during the fourth quarter. Capital World Investors now owns 9,278,685 shares of the medical device company’s stock valued at $1,151,392,000 after purchasing an additional 5,256,092 shares in the last quarter. Norges Bank bought a new stake in DexCom during the fourth quarter valued at about $540,178,000. Artisan Partners Limited Partnership boosted its position in DexCom by 164.8% during the fourth quarter. Artisan Partners Limited Partnership now owns 5,900,308 shares of the medical device company’s stock valued at $732,169,000 after purchasing an additional 3,672,471 shares in the last quarter. Capital Research Global Investors boosted its position in DexCom by 21.4% during the fourth quarter. Capital Research Global Investors now owns 15,296,032 shares of the medical device company’s stock valued at $1,898,085,000 after purchasing an additional 2,695,296 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new stake in DexCom during the fourth quarter valued at about $231,773,000. 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.