Norges Bank Takes $483.36 Million Position in DexCom, Inc. $DXCM

Norges Bank acquired a new stake in shares of DexCom, Inc. (NASDAQ:DXCM) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 7,282,743 shares of the medical device company’s stock, valued at approximately $483,356,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of DXCM. Brighton Jones LLC increased its stake in DexCom by 257.7% in the 4th quarter. Brighton Jones LLC now owns 16,582 shares of the medical device company’s stock worth $1,290,000 after purchasing an additional 11,946 shares during the period. Integrated Wealth Concepts LLC lifted its position in DexCom by 6.3% in the first quarter. Integrated Wealth Concepts LLC now owns 3,329 shares of the medical device company’s stock valued at $227,000 after purchasing an additional 196 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of DexCom by 5.4% in the first quarter. Empowered Funds LLC now owns 8,446 shares of the medical device company’s stock worth $577,000 after purchasing an additional 436 shares during the last quarter. Focus Partners Wealth grew its holdings in shares of DexCom by 13.2% in the first quarter. Focus Partners Wealth now owns 7,218 shares of the medical device company’s stock worth $493,000 after purchasing an additional 841 shares during the last quarter. Finally, NewEdge Advisors LLC grew its holdings in shares of DexCom by 1.4% in the second quarter. NewEdge Advisors LLC now owns 19,253 shares of the medical device company’s stock worth $1,681,000 after purchasing an additional 258 shares during the last quarter. 97.75% of the stock is owned by institutional investors.

Analysts Set New Price Targets

DXCM has been the topic of several recent analyst reports. Canaccord Genuity Group set a $82.00 target price on shares of DexCom and gave the stock a “buy” rating in a report on Monday, May 18th. Raymond James Financial set a $81.00 target price on shares of DexCom in a report on Friday, May 1st. Evercore upgraded shares of DexCom from an “in-line” rating to an “outperform” rating and set a $90.00 target price on the stock in a report on Tuesday, March 24th. TD Cowen cut their target price on DexCom from $84.00 to $75.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Finally, Robert W. Baird set a $80.00 target price on DexCom in a research note on Friday, May 1st. Three analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $82.42.

Insider Transactions at DexCom

In other news, EVP Michael Jon Brown sold 1,700 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $59.91, for a total value of $101,847.00. Following the sale, the executive vice president directly owned 109,504 shares of the company’s stock, valued at $6,560,384.64. The trade was a 1.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bridgette P. Heller sold 1,012 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $60.01, for a total value of $60,730.12. Following the completion of the sale, the director directly owned 25,007 shares in the company, valued at approximately $1,500,670.07. This represents a 3.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 32,871 shares of company stock valued at $2,306,638 in the last ninety days. 0.28% of the stock is currently owned by corporate insiders.

DexCom Stock Performance

Shares of DXCM stock opened at $73.74 on Monday. DexCom, Inc. has a 12 month low of $54.11 and a 12 month high of $89.98. The stock has a market cap of $28.45 billion, a PE ratio of 31.51, a price-to-earnings-growth ratio of 1.22 and a beta of 1.45. The company has a current ratio of 1.95, a quick ratio of 1.64 and a debt-to-equity ratio of 0.42. The company’s fifty day moving average price is $64.17 and its 200-day moving average price is $66.53.

DexCom (NASDAQ:DXCM) last announced its earnings results on Thursday, April 30th. The medical device company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.09. DexCom had a net margin of 19.31% and a return on equity of 33.33%. The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the previous year, the business posted $0.32 EPS. The company’s quarterly revenue was up 15.0% on a year-over-year basis. On average, equities analysts expect that DexCom, Inc. will post 2.57 EPS for the current fiscal year.

DexCom Company Profile

DexCom, Inc is a medical device company that develops, manufactures and distributes continuous glucose monitoring (CGM) systems for people with diabetes. Its products are designed to provide near real-time glucose readings, trend information and alerts to help patients and clinicians manage insulin dosing and reduce hypoglycemia and hyperglycemia. The company’s offerings combine wearable glucose sensors, wireless transmitters and software applications that deliver data to smartphones, dedicated receivers and cloud-based platforms for remote monitoring.

Founded in 1999 and headquartered in San Diego, California, DexCom has focused its business on advancing CGM technology and expanding clinical use beyond traditional insulin-dependent populations.