KLP Kapitalforvaltning AS Acquires 11,000 Shares of DexCom, Inc. (NASDAQ:DXCM)

KLP Kapitalforvaltning AS lifted its holdings in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) by 8.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 145,700 shares of the medical device company's stock after buying an additional 11,000 shares during the period. KLP Kapitalforvaltning AS's holdings in DexCom were worth $9,950,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Brighton Jones LLC boosted its holdings in shares of DexCom by 257.7% in the fourth quarter. Brighton Jones LLC now owns 16,582 shares of the medical device company's stock valued at $1,290,000 after acquiring an additional 11,946 shares in the last quarter. Bank Pictet & Cie Europe AG boosted its holdings in shares of DexCom by 1.8% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 111,063 shares of the medical device company's stock valued at $8,637,000 after acquiring an additional 2,010 shares in the last quarter. Teacher Retirement System of Texas lifted its stake in DexCom by 269.4% during the fourth quarter. Teacher Retirement System of Texas now owns 28,759 shares of the medical device company's stock valued at $2,237,000 after purchasing an additional 20,974 shares during the last quarter. TD Private Client Wealth LLC lifted its stake in DexCom by 62.8% during 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 last quarter. Finally, EntryPoint Capital LLC acquired a new stake in DexCom during the fourth quarter valued at approximately $216,000. Institutional investors own 97.75% of the company's stock.

Insider Activity

In other DexCom news, EVP Sadie Stern sold 1,466 shares of the business's stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $85.06, for a total transaction of $124,697.96. Following the completion of the transaction, the executive vice president owned 108,155 shares of the company's stock, valued at approximately $9,199,664.30. The trade was a 1.34% 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, Director Mark G. Foletta sold 2,750 shares of the business's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $83.13, for a total value of $228,607.50. Following the transaction, the director directly owned 56,621 shares of the company's stock, valued at approximately $4,706,903.73. The trade was a 4.63% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 27,190 shares of company stock worth $2,281,732. 0.32% of the stock is owned by company insiders.

DexCom Stock Up 2.6%

DXCM traded up $2.25 during trading on Friday, reaching $88.99. 3,072,147 shares of the stock were exchanged, compared to its average volume of 2,733,721. The stock has a market cap of $34.89 billion, a P/E ratio of 66.41, a price-to-earnings-growth ratio of 1.85 and a beta of 1.44. DexCom, Inc. has a twelve month low of $57.52 and a twelve month high of $93.25. The stock's 50 day moving average price is $84.58 and its two-hundred day moving average price is $80.41. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.32 and a current ratio of 1.50.

DexCom (NASDAQ:DXCM - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The medical device company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.01). The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.02 billion. DexCom had a net margin of 12.90% and a return on equity of 30.05%. DexCom's revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.32 earnings per share. Equities analysts expect that DexCom, Inc. will post 2.03 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Wall Street Zen raised shares of DexCom from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Morgan Stanley upped their price objective on shares of DexCom from $82.00 to $89.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. Truist Financial started coverage on shares of DexCom in a research note on Monday, June 16th. They set a "buy" rating and a $102.00 price target on the stock. Barclays increased their price target on shares of DexCom from $90.00 to $93.00 and gave the stock an "equal weight" rating in a research note on Monday, May 5th. Finally, Canaccord Genuity Group increased their price target on shares of DexCom from $103.00 to $106.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Four investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $99.60.

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.