DnB Asset Management AS Buys 23,914 Shares of DexCom, Inc. (NASDAQ:DXCM)

DnB Asset Management AS lifted its stake in shares of DexCom, Inc. (NASDAQ:DXCM) by 10.7% in the fourth quarter, HoldingsChannel reports. The fund owned 246,385 shares of the medical device company’s stock after acquiring an additional 23,914 shares during the period. DnB Asset Management AS’s holdings in DexCom were worth $19,161,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DXCM. Cerity Partners LLC boosted its position in shares of DexCom by 190.0% in the third quarter. Cerity Partners LLC now owns 60,050 shares of the medical device company’s stock worth $4,026,000 after purchasing an additional 39,344 shares during the period. D.A. Davidson & CO. lifted its stake in shares of DexCom by 22.4% during the 3rd quarter. D.A. Davidson & CO. now owns 32,578 shares of the medical device company’s stock valued at $2,184,000 after buying an additional 5,969 shares in the last quarter. Townsquare Capital LLC boosted its holdings in DexCom by 43.6% in the 3rd quarter. Townsquare Capital LLC now owns 9,568 shares of the medical device company’s stock worth $641,000 after buying an additional 2,905 shares during the period. Freedom Investment Management Inc. increased its stake in DexCom by 10.2% in the 3rd quarter. Freedom Investment Management Inc. now owns 3,035 shares of the medical device company’s stock worth $203,000 after buying an additional 281 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its holdings in DexCom by 127.4% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 83,037 shares of the medical device company’s stock valued at $5,567,000 after acquiring an additional 46,527 shares during the period. 97.75% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on DXCM shares. Citigroup increased their target price on DexCom from $101.00 to $104.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. Morgan Stanley boosted their target price on shares of DexCom from $75.00 to $82.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. Redburn Atlantic raised shares of DexCom from a “neutral” rating to a “buy” rating and raised their target price for the company from $85.00 to $115.00 in a research note on Monday, February 3rd. Baird R W upgraded shares of DexCom from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 16th. Finally, Cfra Research upgraded DexCom to a “hold” rating in a research report on Friday, March 21st. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, DexCom presently has an average rating of “Moderate Buy” and an average price target of $99.82.

DexCom Stock Performance

Shares of DexCom stock opened at $67.74 on Friday. The company has a quick ratio of 1.28, a current ratio of 1.47 and a debt-to-equity ratio of 0.59. The stock’s fifty day moving average is $82.32 and its two-hundred day moving average is $77.01. DexCom, Inc. has a 52 week low of $62.34 and a 52 week high of $141.99. The company has a market capitalization of $26.47 billion, a PE ratio of 47.37, a price-to-earnings-growth ratio of 2.30 and a beta of 1.28.

DexCom (NASDAQ:DXCM) last posted its quarterly 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 return on equity of 30.14% and a net margin of 14.29%. As a group, analysts expect that DexCom, Inc. will post 2.03 earnings per share for the current year.

Insider Activity at DexCom

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

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.