Norges Bank Buys Shares of 4,955,208 DexCom, Inc. (NASDAQ:DXCM)

Norges Bank bought a new position in shares of DexCom, Inc. (NASDAQ:DXCM) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,955,208 shares of the medical device company’s stock, valued at approximately $385,367,000. Norges Bank owned 1.27% of DexCom as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Versant Capital Management Inc bought a new position in DexCom during the 4th quarter worth $25,000. Private Trust Co. NA grew its position in shares of DexCom by 266.3% during the fourth 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 last quarter. TD Private Client Wealth LLC increased its holdings in shares of DexCom by 62.8% in the 4th 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 period. Larson Financial Group LLC lifted its position in DexCom by 40.5% in the 4th 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 last quarter. Finally, Heck Capital Advisors LLC acquired a new position in DexCom during the 4th quarter valued at about $38,000. 97.75% of the stock is currently owned by institutional investors.

DexCom Stock Performance

Shares of DXCM opened at $67.74 on Friday. The company has a market capitalization of $26.47 billion, a PE 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 company’s 50 day moving average price is $82.32 and its 200 day moving average price is $77.07. DexCom, Inc. has a 52 week low of $62.34 and a 52 week high of $141.99.

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 net margin of 14.29% and a return on equity of 30.14%. Research analysts expect that DexCom, Inc. will post 2.03 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Kevin R. Sayer sold 33,359 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 319,037 shares in the company, valued at approximately $27,727,505.67. This represents a 9.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Jacob Steven Leach sold 14,076 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $70.38, for a total value of $990,668.88. Following the transaction, the chief operating officer now owns 313,497 shares in the company, valued at approximately $22,063,918.86. This trade represents a 4.30 % decrease in their ownership of the stock. 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 in the last three months. Insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Cfra Research upgraded shares of DexCom to a “hold” rating in a research note on Friday, March 21st. Redburn Atlantic raised DexCom from a “neutral” rating to a “buy” rating and lifted their target price for the company from $85.00 to $115.00 in a research note on Monday, February 3rd. Baird R W raised DexCom from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 16th. Morgan Stanley lifted their price objective on shares of DexCom from $75.00 to $82.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. Finally, Robert W. Baird upgraded shares of DexCom from a “neutral” rating to an “outperform” rating and increased their target price for the company from $86.00 to $104.00 in a research report on Thursday, January 16th. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, DexCom has a consensus rating of “Moderate Buy” and an average target price of $99.82.

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.