DNB Asset Management AS Acquires 803,086 Shares of DexCom, Inc. $DXCM

DNB Asset Management AS raised its holdings in shares of DexCom, Inc. (NASDAQ:DXCM) by 271.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,098,544 shares of the medical device company’s stock after acquiring an additional 803,086 shares during the quarter. DNB Asset Management AS owned about 0.28% of DexCom worth $73,921,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Andra AP fonden purchased a new position in shares of DexCom in the second quarter valued at $26,000. Twin Peaks Wealth Advisors LLC bought a new position in DexCom in the 2nd quarter worth about $26,000. SJS Investment Consulting Inc. grew its holdings in DexCom by 4,800.0% during the 3rd quarter. SJS Investment Consulting Inc. now owns 392 shares of the medical device company’s stock valued at $26,000 after buying an additional 384 shares in the last quarter. Financial Consulate Inc. purchased a new position in DexCom during the 3rd quarter valued at about $29,000. Finally, Sound Income Strategies LLC increased its position in shares of DexCom by 83.8% during the third quarter. Sound Income Strategies LLC now owns 625 shares of the medical device company’s stock valued at $43,000 after buying an additional 285 shares during the period. Hedge funds and other institutional investors own 97.75% of the company’s stock.

DexCom Price Performance

Shares of NASDAQ:DXCM opened at $74.38 on Friday. The company has a quick ratio of 1.59, a current ratio of 1.88 and a debt-to-equity ratio of 0.45. The stock has a market cap of $28.63 billion, a PE ratio of 35.42, a PEG ratio of 1.42 and a beta of 1.49. The company’s fifty day moving average is $70.09 and its 200 day moving average is $69.26. DexCom, Inc. has a 52 week low of $54.11 and a 52 week high of $90.00.

DexCom (NASDAQ:DXCM) last announced its quarterly earnings data on Thursday, February 12th. The medical device company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.03. DexCom had a return on equity of 32.12% and a net margin of 17.94%.The firm had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same period last year, the firm earned $0.45 earnings per share. The company’s revenue for the quarter was up 13.1% compared to the same quarter last year. Research analysts anticipate that DexCom, Inc. will post 2.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

DXCM has been the subject of a number of analyst reports. Truist Financial restated a “buy” rating and issued a $80.00 price objective (down from $82.00) on shares of DexCom in a research report on Tuesday, February 17th. Royal Bank Of Canada decreased their price target on shares of DexCom from $100.00 to $85.00 and set an “outperform” rating on the stock in a report on Friday, October 31st. Wells Fargo & Company lowered their price objective on DexCom from $93.00 to $85.00 and set an “overweight” rating on the stock in a research report on Friday, February 13th. Robert W. Baird set a $87.00 target price on DexCom in a research report on Friday, February 13th. Finally, Morgan Stanley restated an “overweight” rating on shares of DexCom in a research note on Monday, January 12th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, DexCom currently has an average rating of “Moderate Buy” and a consensus target price of $85.18.

DexCom Profile

DexCom, Inc is a medical device company that develops, manufactures and distributes continuous glucose monitoring (CGM) systems for people with diabetes. Its products are designed to provide near real-time glucose readings, trend information and alerts to help patients and clinicians manage insulin dosing and reduce hypoglycemia and hyperglycemia. The company’s offerings combine wearable glucose sensors, wireless transmitters and software applications that deliver data to smartphones, dedicated receivers and cloud-based platforms for remote monitoring.

Founded in 1999 and headquartered in San Diego, California, DexCom has focused its business on advancing CGM technology and expanding clinical use beyond traditional insulin-dependent populations.