KLP Kapitalforvaltning AS Takes Position in DexCom, Inc. (NASDAQ:DXCM)

KLP Kapitalforvaltning AS purchased a new position in shares of DexCom, Inc. (NASDAQ:DXCM) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 134,700 shares of the medical device company’s stock, valued at approximately $10,476,000.

Several other large investors have also recently added to or reduced their stakes in DXCM. Versant Capital Management Inc purchased a new stake in shares of DexCom in the fourth quarter worth about $25,000. Private Trust Co. NA boosted its holdings in DexCom by 266.3% in the 4th quarter. Private Trust Co. NA now owns 337 shares of the medical device company’s stock worth $26,000 after acquiring an additional 245 shares during the period. TD Private Client Wealth LLC grew its position in DexCom by 62.8% in the fourth quarter. TD Private Client Wealth LLC now owns 433 shares of the medical device company’s stock valued at $34,000 after acquiring an additional 167 shares in the last quarter. Larson Financial Group LLC raised its stake in shares of DexCom by 40.5% during the fourth quarter. Larson Financial Group LLC now owns 475 shares of the medical device company’s stock valued at $37,000 after purchasing an additional 137 shares during the period. Finally, Heck Capital Advisors LLC acquired a new position in shares of DexCom during the fourth quarter worth $38,000. 97.75% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other DexCom news, COO Jacob Steven Leach sold 2,634 shares of the company’s stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $86.91, for a total value of $228,920.94. Following the completion of the transaction, the chief operating officer now owns 268,644 shares in the company, valued at approximately $23,347,850.04. This represents a 0.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Kevin R. Sayer sold 33,359 shares of DexCom stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $86.91, for a total value of $2,899,230.69. Following the sale, the chief executive officer now directly owns 319,037 shares in the company, valued at approximately $27,727,505.67. This trade represents a 9.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 105,009 shares of company stock worth $8,044,178 in the last three months. 0.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on DXCM shares. Morgan Stanley raised their price target on shares of DexCom from $75.00 to $82.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. Baird R W raised DexCom from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 16th. Redburn Atlantic raised DexCom from a “neutral” rating to a “buy” rating and increased their price target for the company from $85.00 to $115.00 in a report on Monday, February 3rd. Wells Fargo & Company restated an “overweight” rating on shares of DexCom in a report on Saturday, March 8th. Finally, Citigroup upped their target price on DexCom from $101.00 to $104.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, DexCom presently has an average rating of “Moderate Buy” and an average target price of $99.82.

DexCom Price Performance

Shares of NASDAQ:DXCM opened at $75.32 on Tuesday. The company has a market cap of $29.43 billion, a PE ratio of 52.67, a P/E/G ratio of 2.30 and a beta of 1.28. DexCom, Inc. has a fifty-two week low of $62.34 and a fifty-two week high of $142.00. The firm has a 50-day simple moving average of $83.24 and a 200 day simple moving average of $77.07. The company has a quick ratio of 1.28, a current ratio of 1.47 and a debt-to-equity ratio of 0.59.

DexCom (NASDAQ:DXCM) last posted its earnings results on Thursday, February 13th. The medical device company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.05). DexCom had a net margin of 14.29% and a return on equity of 30.14%. On average, sell-side analysts anticipate that DexCom, Inc. will post 2.03 EPS for the current year.

DexCom 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.