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

Norges Bank acquired a new position in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 4,955,208 shares of the medical device company's stock, valued at approximately $385,367,000. Norges Bank owned about 1.27% of DexCom at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Versant Capital Management Inc acquired a new stake in shares of DexCom during the 4th quarter worth approximately $25,000. Private Trust Co. NA increased its stake in 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 raised its position 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 purchasing an additional 167 shares during the period. Larson Financial Group LLC raised 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 purchasing an additional 137 shares during the period. Finally, Heck Capital Advisors LLC acquired a new position in shares of DexCom in the 4th quarter valued at $38,000. 97.75% of the stock is owned by hedge funds and other institutional investors.

DexCom Stock Down 8.7 %

Shares of DXCM traded down $5.95 during midday trading on Thursday, reaching $62.19. The stock had a trading volume of 1,638,315 shares, compared to its average volume of 3,863,335. The company has a market cap of $24.30 billion, a price-to-earnings ratio of 43.49, a PEG ratio of 2.30 and a beta of 1.28. The company's fifty day simple moving average is $81.24 and its two-hundred day simple moving average is $77.04. DexCom, Inc. has a 1-year low of $61.74 and a 1-year high of $141.99. 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 (NASDAQ:DXCM - Get Free Report) last posted 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 research analysts expect that DexCom, Inc. will post 2.03 earnings per share for the current year.

Insider Transactions at DexCom

In related news, COO Jacob Steven Leach sold 2,634 shares of the stock in a transaction 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 directly owns 268,644 shares of the company's stock, valued at $23,347,850.04. This trade represents a 0.97 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Jereme M. Sylvain sold 2,090 shares of the business's stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $86.91, for a total transaction of $181,641.90. Following the completion of the sale, the executive vice president now directly owns 83,526 shares of the company's stock, valued at approximately $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. In the last 90 days, insiders have sold 105,009 shares of company stock valued at $8,044,178. Corporate insiders own 0.30% of the company's stock.

Wall Street Analysts Forecast Growth

DXCM has been the subject of a number of recent analyst reports. Morgan Stanley lifted their price target on shares of DexCom from $75.00 to $82.00 and gave the company an "equal weight" rating in a research report on Friday, February 14th. Citigroup lifted 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. Cfra Research upgraded DexCom to a "hold" rating in a research note on Friday, March 21st. Canaccord Genuity Group lifted their price objective on DexCom from $99.00 to $103.00 and gave the company a "buy" rating in a research note on Friday, February 14th. Finally, Baird R W raised DexCom from a "hold" rating to a "strong-buy" rating in a research note on Thursday, January 16th. 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 stock has an average rating of "Moderate Buy" and an average target price of $99.82.

DexCom 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.