DexCom (DXCM) Coverage Begins as Outperform at Morgan Keegan

DexCom (DXCM) has been initiated today with coverage from the research analysts at Morgan Keegan.  Keegan begins this new coverage of DexCom with an initial price target set at $18 dollars and rates performance of DXCM as “outperform.”  Keegan noted that the company looks to have the best sensor in its class which should continue funneling market share its way.  Additionally, Keegan noted that through ventures with other companies provide possibility of extra revenue for the company.

DXCM is on its way to close this week strong after spending the first half trending to the wayside.  Should shares of DXCM continue trending north overall through trading of next week, yesterday’s dip below support of the $13 dollar price mark may well been a false break.  DXCM has been volatile throughout 2011 trading compared to 2010.

DexCom is slated to release their next earnings report onAugust 3rd, 2011, and is estimated to post negative EPS of 12 cents.  Their last earnings report was released on May 3rd, 2011, and announced negative EPS of 19 cents with revenue totaling $14.2 million which was up 49.5 % year to year.  DXCM is currently trading below its 50 & 200-day moving averages and 2011 is currently a down year for the company.

DexCom, Inc. is a medical device company focused on the design, development and commercialization of continuous glucose monitoring systems for ambulatory use by people with diabetes and for use by healthcare providers in the hospital for the treatment of both diabetic and non-diabetic patients.  The company has market capitalization of $837,319,680 and 62,208,000 shares outstanding.  DXCM has a 52-week high of $16.91 with the low being $9.91 dollars.

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