DNB Asset Management AS Boosts Stock Position in DexCom, Inc. $DXCM

DNB Asset Management AS raised its holdings in shares of DexCom, Inc. (NASDAQ:DXCM) by 271.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,098,544 shares of the medical device company’s stock after purchasing an additional 803,086 shares during the period. DNB Asset Management AS’s holdings in DexCom were worth $73,921,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC increased its position in shares of DexCom by 257.7% during the fourth quarter. Brighton Jones LLC now owns 16,582 shares of the medical device company’s stock valued at $1,290,000 after buying an additional 11,946 shares during the period. Integrated Wealth Concepts LLC grew its holdings in shares of DexCom by 6.3% during the 1st quarter. Integrated Wealth Concepts LLC now owns 3,329 shares of the medical device company’s stock worth $227,000 after acquiring an additional 196 shares during the period. Empowered Funds LLC raised its position in shares of DexCom by 5.4% in the 1st quarter. Empowered Funds LLC now owns 8,446 shares of the medical device company’s stock worth $577,000 after acquiring an additional 436 shares in the last quarter. Focus Partners Wealth raised its holdings in DexCom by 13.2% in the first quarter. Focus Partners Wealth now owns 7,218 shares of the medical device company’s stock worth $493,000 after purchasing an additional 841 shares in the last quarter. Finally, Focus Partners Advisor Solutions LLC bought a new position in shares of DexCom in the 2nd quarter worth about $317,000. 97.75% of the stock is owned by hedge funds and other institutional investors.

DexCom Stock Up 1.7%

Shares of DexCom stock opened at $74.38 on Friday. DexCom, Inc. has a twelve month low of $54.11 and a twelve month high of $90.00. 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 company’s 50 day moving average is $70.09 and its 200 day moving average is $69.26. The company has a market cap of $28.63 billion, a price-to-earnings ratio of 35.42, a price-to-earnings-growth ratio of 1.42 and a beta of 1.49.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Citigroup reissued a “buy” rating and set a $77.00 price objective (up from $75.00) on shares of DexCom in a research note on Thursday, December 11th. TD Cowen dropped their price target on DexCom from $100.00 to $84.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. Leerink Partners restated an “outperform” rating and issued a $92.00 price target on shares of DexCom in a research note on Tuesday, December 16th. Argus lowered their price target on DexCom from $100.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, November 7th. Finally, Robert W. Baird set a $87.00 target price on shares of DexCom in a research note on Friday, February 13th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $85.18.

About DexCom

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.