Canaccord Genuity Keeps Their Buy Rating on Dexcom

By Jason Carr

In a report released yesterday, Kyle Rose from Canaccord Genuity reiterated a Buy rating on Dexcom (NASDAQ: DXCM), with a price target of $90. The company’s shares closed yesterday at $69.74.

According to TipRanks.com, Rose is a 4-star analyst with an average return of 5.5% and a 50.0% success rate. Rose covers the Healthcare sector, focusing on stocks such as Obalon Therapeutics Inc, Zimmer Biomet Holdings, and Zeltiq Aesthetics.

Currently, the analyst consensus on Dexcom is Strong Buy and the average price target is $91.50, representing a 31.2% upside.

In a report issued on May 22, Piper Jaffray also initiated coverage with a Buy rating on the stock with a $78 price target.

Based on Dexcom’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $142 million and GAAP net loss of $41.7 million. In comparison, last year the company earned revenue of $116 million and had a GAAP net loss of $19.2 million.

Based on the recent corporate insider activity of 158 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of DXCM in relation to earlier this year. Last month, Terrance Gregg, the EC of DXCM bought 30,000 shares for a total of $205,500.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

DexCom, Inc. is a medical device manufacturing company, which engages in the design, development, and commercialization of continuous glucose monitoring systems for ambulatory use by people with diabetes. Its products include Dexcom G4 PLATINUM System, Dexcom studio and Mobile apps. The company was founded by John F. Burd in May 1999 and is headquartered in San Diego, CA.