KLP Kapitalforvaltning AS Invests $10.48 Million in DexCom, Inc. (NASDAQ:DXCM)

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

A number of other institutional investors and hedge funds have also made changes to their positions in DXCM. Empowered Funds LLC increased its position in DexCom by 6.1% during the 3rd quarter. Empowered Funds LLC now owns 5,847 shares of the medical device company’s stock worth $392,000 after purchasing an additional 335 shares during the period. Cerity Partners LLC grew its holdings in DexCom by 190.0% during the third quarter. Cerity Partners LLC now owns 60,050 shares of the medical device company’s stock worth $4,026,000 after acquiring an additional 39,344 shares during the period. Swedbank AB raised its position in DexCom by 15.2% in the third quarter. Swedbank AB now owns 213,864 shares of the medical device company’s stock worth $14,337,000 after acquiring an additional 28,289 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in DexCom by 0.6% in the third quarter. Daiwa Securities Group Inc. now owns 77,099 shares of the medical device company’s stock valued at $5,169,000 after acquiring an additional 490 shares during the period. Finally, Fisher Asset Management LLC boosted its position in shares of DexCom by 10.6% during the 3rd quarter. Fisher Asset Management LLC now owns 856,124 shares of the medical device company’s stock worth $57,395,000 after purchasing an additional 82,250 shares in the last quarter. 97.75% of the stock is currently owned by institutional investors and hedge funds.

DexCom Stock Performance

Shares of DXCM opened at $75.32 on Tuesday. The company has a market capitalization of $29.43 billion, a price-to-earnings ratio of 52.67, 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. DexCom, Inc. has a 1 year low of $62.34 and a 1 year high of $142.00. The company’s 50 day simple moving average is $83.24 and its 200 day simple moving average is $77.07.

DexCom (NASDAQ:DXCM) last posted its quarterly earnings data on Thursday, February 13th. The medical device company reported $0.45 earnings per share (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%. On average, sell-side analysts predict that DexCom, Inc. will post 2.03 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Kevin R. Sayer sold 32,498 shares of DexCom stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $70.38, for a total value of $2,287,209.24. Following the transaction, the chief executive officer now owns 372,029 shares in the company, valued at approximately $26,183,401.02. This trade represents a 8.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jacob Steven Leach sold 2,634 shares of the business’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 sale, the chief operating officer now directly owns 268,644 shares of the company’s stock, valued at approximately $23,347,850.04. This trade represents a 0.97 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 105,009 shares of company stock valued at $8,044,178. Insiders own 0.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Baird R W upgraded shares of DexCom from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 16th. Citigroup increased their target price on shares of DexCom from $101.00 to $104.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. Redburn Atlantic raised DexCom from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $85.00 to $115.00 in a research note on Monday, February 3rd. Robert W. Baird raised DexCom from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $86.00 to $104.00 in a research note on Thursday, January 16th. Finally, Canaccord Genuity Group lifted their price objective on DexCom from $99.00 to $103.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.82.

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.