KLP Kapitalforvaltning AS Acquires New Holdings in DexCom, Inc. (NASDAQ:DXCM)

KLP Kapitalforvaltning AS purchased a new position in DexCom, Inc. (NASDAQ:DXCM - Free Report) in the fourth quarter, according to the company in 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.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Forvis Mazars Wealth Advisors LLC boosted its holdings in DexCom by 0.7% in the fourth quarter. Forvis Mazars Wealth Advisors LLC now owns 17,481 shares of the medical device company's stock valued at $1,359,000 after purchasing an additional 118 shares in the last quarter. Principal Securities Inc. raised its stake in DexCom by 3.4% during the 4th quarter. Principal Securities Inc. now owns 4,069 shares of the medical device company's stock worth $316,000 after acquiring an additional 135 shares in the last quarter. Larson Financial Group LLC lifted its position in DexCom by 40.5% in the fourth quarter. Larson Financial Group LLC now owns 475 shares of the medical device company's stock valued at $37,000 after acquiring an additional 137 shares during the last quarter. TD Private Client Wealth LLC boosted its stake 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. Finally, GPS Wealth Strategies Group LLC grew its holdings in shares of DexCom by 13.2% during the fourth quarter. GPS Wealth Strategies Group LLC now owns 1,587 shares of the medical device company's stock worth $123,000 after purchasing an additional 185 shares during the last quarter. Institutional investors and hedge funds own 97.75% of the company's stock.

Remove Ads

DexCom Trading Down 2.5 %

DexCom stock traded down $1.73 during midday trading on Friday, reaching $67.74. The stock had a trading volume of 4,680,803 shares, compared to its average volume of 4,055,857. The firm's fifty day simple moving average is $82.32 and its two-hundred day simple moving average is $77.01. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.47 and a quick ratio of 1.28. DexCom, Inc. has a twelve month low of $62.34 and a twelve month high of $141.99. 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.

DexCom (NASDAQ:DXCM - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The medical device company reported $0.45 earnings per share for the quarter, missing analysts' consensus estimates of $0.50 by ($0.05). DexCom had a net margin of 14.29% and a return on equity of 30.14%. Equities analysts anticipate that DexCom, Inc. will post 2.03 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on DXCM shares. 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. Morgan Stanley raised their target price on shares of DexCom from $75.00 to $82.00 and gave the stock an "equal weight" rating in a research report on Friday, February 14th. Redburn Atlantic upgraded shares of DexCom from a "neutral" rating to a "buy" rating and upped their price target for the company from $85.00 to $115.00 in a research report on Monday, February 3rd. Cfra Research raised shares of DexCom to a "hold" rating in a research report on Friday, March 21st. Finally, Wells Fargo & Company restated an "overweight" rating on shares of DexCom in a research note on Saturday, March 8th. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $99.82.

Insider Buying and Selling

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