4,955,208 Shares in DexCom, Inc. (NASDAQ:DXCM) Bought by Norges Bank

Norges Bank purchased a new stake in shares of DexCom, Inc. (NASDAQ:DXCM) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 4,955,208 shares of the medical device company’s stock, valued at approximately $385,367,000.

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

DexCom Stock Down 2.5 %

DXCM opened at $67.74 on Friday. The firm has a market cap of $26.47 billion, a price-to-earnings ratio of 47.37, a PEG ratio of 2.30 and a beta of 1.28. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.28 and a current ratio of 1.47. The firm’s 50-day simple moving average is $82.32 and its 200-day simple moving average is $77.07. DexCom, Inc. has a twelve month low of $62.34 and a twelve month high of $141.99.

DexCom (NASDAQ:DXCM) last issued its quarterly earnings data on Thursday, February 13th. The medical device company reported $0.45 earnings per share 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%. Equities research analysts anticipate that DexCom, Inc. will post 2.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Baird R W upgraded shares of DexCom from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 16th. Canaccord Genuity Group lifted their target price on DexCom from $99.00 to $103.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Wells Fargo & Company reaffirmed an “overweight” rating on shares of DexCom in a report on Saturday, March 8th. Redburn Atlantic raised DexCom from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $85.00 to $115.00 in a report on Monday, February 3rd. Finally, Cfra Research upgraded DexCom to a “hold” rating in a research report on Friday, March 21st. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $99.82.

Insider Activity at DexCom

In other DexCom news, EVP Jereme M. Sylvain sold 2,090 shares of the stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $86.91, for a total transaction of $181,641.90. Following the sale, the executive vice president now owns 83,526 shares of the company’s stock, valued at $7,259,244.66. This represents a 2.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michael Jon Brown sold 13,000 shares of the business’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $70.38, for a total transaction of $914,940.00. Following the completion of the transaction, the executive vice president now directly owns 105,602 shares of the company’s stock, valued at approximately $7,432,268.76. This represents a 10.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 105,009 shares of company stock valued at $8,044,178 in the last three months. Corporate insiders own 0.30% of the company’s stock.

DexCom Company 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.