On October 21, 2026, DexCom Inc DXCM shares fell 6.4% to a current price of $80.26. This decline comes amidst a 52-week range of $54.11 to $92.59, highlighting a significant drop from the recent highs. The stock's price performance over various time frames shows volatility, with a year-to-date increase of 20.9% and a 1-year increase of 15.1%.
GF Value™ verdict: The stock is currently trading at a price of $80.26, which is 22.7% below the GF Value™ estimate of $103.82.GF Score™: DXCM has a strong GF Score™ of 95/100, indicating a robust overall investment quality.Notable signal: Insider activity shows $1.0M in purchases and $12.8M in sales over the past 12 months, resulting in a net selling of $11.8M.Is DXCM Overvalued or Undervalued?According to the GF Value™, DexCom Inc is currently undervalued with a significant margin of safety. The current trading price of $80.26 suggests an opportunity for potential upside, as it is 22.7% lower than the intrinsic value estimate of $103.82. The GF Valuation label classifies DXCM as "modestly undervalued," indicating that the stock has room for appreciation based on its historical performance and future growth potential. GF Value™ is calculated using a blend of historical trading multiples, past business growth, and expected future performance, providing a comprehensive view of fair value.
Given the current price, investors may find DXCM appealing, though it is essential to consider the broader market conditions and the company's operational performance. The recent decline in share price, while concerning, may present an opportunity for those looking to enter at a lower valuation.
How Does DXCM's Valuation Compare to Its History?MetricCurrentHistoricalP/E (TTM)31.7x84.4xForward P/E25.6xN/ACurrently, DexCom's P/E ratio of 31.7x is significantly lower than its 5-year median P/E of 84.4x, indicating that the stock is trading at a much more attractive valuation compared to its historical levels. The forward P/E of 25.6x further supports the notion that DXCM is undervalued relative to its past performance. This P/E analysis aligns with the GF Value™ verdict, suggesting that the stock possesses strong potential for future growth and appreciation.
What Does DXCM's GF Score™ Tell Us?The GF Score™ provides a comprehensive assessment of a company's financial health, growth potential, profitability, valuation, and momentum. With a GF Score™ of 95/100, DexCom demonstrates strong characteristics across all evaluated metrics, particularly in growth and valuation, where it achieved perfect scores. Its weakest area lies in predictability, with a rating of only 1 star.
MetricRatingGF Score™95/100Financial Strength8/10Profitability8/10Growth10/10Valuation10/10Momentum9/10The strong GF Score™ indicates that DexCom is in a solid financial position, boasting high profitability and growth ranks. The standout performance in growth (10/10) and valuation (10/10) suggests a favorable outlook for the company, while the financial strength and profitability ranks reinforce its operational stability. However, the low predictability score may suggest some uncertainty regarding future earnings, necessitating cautious consideration from potential investors.
What Are Gurus and Insiders Doing with DXCM?Currently, 9 gurus hold positions in DexCom, with 6 increasing their stakes and 5 reducing their positions in recent quarters. This mixed activity indicates that while there is some confidence among institutional investors, there are also concerns leading others to trim their holdings. The net selling of $11.8M by insiders over the past year, with $1.0M in purchases against $12.8M in sales, reflects a cautious approach from those closest to the company's operations.
This insider activity could suggest that insiders may not be entirely optimistic about the company's near-term prospects. However, the fact that several gurus are adding to their positions could also imply a belief in the long-term potential of DexCom, especially given its current undervaluation relative to GF Value™.
What This Means for InvestorsOverall, DexCom Inc appears to be undervalued based on the current price relative to the GF Value™ estimate, offering a potential margin of safety for investors. While recent insider selling raises some concerns, the strong GF Score™ and positive growth outlook signal that DexCom may present a worthwhile opportunity for those looking to invest in the medical devices sector. For a deeper analysis of DexCom's performance and valuation, visit the DexCom Inc DXCM stock page.
Frequently Asked QuestionsWhat is DXCM's GF Score™?
DXCM has a GF Score™ of 95/100, indicating strong overall investment quality and performance across various financial metrics.
Is DXCM overvalued or undervalued?
Based on the GF Value™ assessment, DXCM is currently undervalued at a price of $80.26, which is 22.7% below its estimated fair value of $103.82.
What is DXCM's P/E ratio?
DXCM's P/E ratio is 31.7x, which is significantly lower than its 5-year median P/E of 84.4x, indicating it is trading at a much more attractive valuation historically.
This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Disclosures
I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.
Key Takeaways DXCM's G7 shows strong results in the CONNECT trial, supports CGM use in non-insulin-treated Type 2 diabetes.DXCM's G7 users achieve a 1.6% A1C reduction and spend five additional hours daily within the target range.Dexcom's CONNECT study shows 97% CGM use at 26 weeks, strengthening evidence for broader adoption.
DexCom, Inc. (DXCM - Free Report) recently announced that results from its CONNECT randomized controlled trial have been published in The New England Journal of Medicine. The study evaluated the benefits of its Dexcom G7 continuous glucose monitoring (CGM) system in adults with Type 2 diabetes who are not using insulin, adding to the clinical evidence supporting broader CGM adoption.
The findings are encouraging for DexCom, as stronger clinical evidence could help expand CGM adoption among people with Type 2 diabetes who are not on insulin. Wider physician acceptance and improved insurance coverage could create additional growth opportunities for the company. However, the extent to which the study translates into higher sales will depend on physician adoption, reimbursement support and patient uptake.
More on the NewsThe CONNECT study screened 440 participants across 22 primary care sites in the United States, with 283 eligible adults randomized to receive either Dexcom G7 or routine care over 26 weeks. Participants using the CGM system achieved an average A1C reduction of 1.6% from a baseline of 8.8%, representing a 0.9-percentage-point greater reduction than routine care. At 26 weeks, 68% of Dexcom G7 users achieved an A1C below 7.5%, while 46% reached below 7.0%.
The group also spent approximately five additional hours per day within the target glucose range of 70-180 mg/dL, with improvements emerging within the first week of use. Benefits were observed across several demographic and clinical characteristics, including age, diabetes duration and glucose-lowering treatments. Among participants using GLP-1 therapies, DexCom G7 delivered an additional 0.9-percentage-point A1C reduction compared with routine care. Notably, 97% of participants were still using CGM after 26 weeks, with most using it daily. The findings were first presented at the American Diabetes Association's 2026 Scientific Sessions and strengthen the clinical evidence supporting CGM use among adults with Type 2 diabetes who are not using insulin.
The publication is particularly relevant because it provides evidence supporting earlier CGM use in Type 2 diabetes management, potentially expanding the addressable market beyond patients who require insulin. The study's results may encourage more physicians to recommend continuous glucose monitoring and strengthen discussions around reimbursement and broader patient access. However, translating these findings into sustained revenue growth will depend on adoption rates, payer coverage and affordability. The study also adds to the clinical evidence supporting Dexcom's G7 platform, although longer-term data will be important in assessing the durability of the observed benefits.
Recent Development by DXCMRecently, DXCM released its 2026 “State of Type 2 Report: Global Access and Attitudes to Diabetes Technology” ahead of the 62nd Annual Meeting of the European Association for the Study of Diabetes. The report highlights significant gaps in CGM awareness and access while pointing to growing potential for combining CGM with GLP-1 therapies. Dexcom also partnered with Team Novo Nordisk, an all-diabetic professional cycling team primarily sponsored by Novo Nordisk, underscoring its focus on expanding CGM awareness and adoption.
DXCM’s Industry ProspectsAccording to Grand View Research, the global CGM devices market size was valued at $13.4 billion in 2025 and is projected to grow beyond $41.4 billion by 2033, at a CAGR of 15.1% from 2026 to 2033.
The primary driver of market growth is the rising global prevalence of diabetes, which has increased demand for more efficient, real-time glucose monitoring solutions.
Updates From DXCM PeersAbbott Laboratories (ABT - Free Report) recently reported new real-world evidence supporting the benefits of CGM technology, including its FreeStyle Libre systems, for adults with Type 2 diabetes using basal insulin. According to studies, CGM use was associated with a 45% lower risk of death at 12 months and a 36% lower risk at 24 months.
A separate French observational study involving more than 253,000 people with Type 2 diabetes found that Abbott's Libre technology was associated with lower hospitalization rates for acute diabetes-related events across different treatment groups. These findings strengthen the clinical evidence supporting CGM adoption and could help ABT expand the reach of its diabetes care portfolio.
Medtronic (MDT - Free Report) recently completed the exchange-offer process for its diabetes business, MiniMed Group and announced final results on Oct. 14, 2026. The offer was oversubscribed, and Medtronic exchanged its remaining 252.8 million MiniMed shares for approximately 55 million Medtronic ordinary shares. Following the transaction, Medtronic will no longer retain an ownership stake in MiniMed, which is expected to operate as an independent publicly traded company.
The separation marks a strategic shift for Medtronic, allowing it to focus more closely on its remaining medical technology businesses, while MiniMed will pursue growth in diabetes care as a standalone company. The development is relevant to the competitive landscape for diabetes devices, although its longer-term impact will depend on MiniMed's performance as an independent business.
Insulet (PODD - Free Report) announced enhancements to its Omnipod 5 automated insulin delivery system in June 2026, alongside expanded compatibility with Abbott's FreeStyle Libre 3 Plus sensor in the United States. The upgraded algorithm introduces a 100 mg/dL target glucose setting and improved alarm handling, aiming to improve time in range and help users spend more time in automated mode. The expanded sensor compatibility also gives users greater flexibility in choosing their diabetes management technology. Separately, Insulet reported second-quarter 2026 revenues of $801.7 million, up 23.5% year over year, with Omnipod revenue increasing 24.6%.
These developments highlight continued product innovation and commercial momentum, which could support Insulet's growth in automated insulin delivery. However, sustained performance will depend on continued adoption, international expansion and execution in an increasingly competitive diabetes technology market.
DexCom, Inc. (NASDAQ:DXCM – Get Free Report) EVP Michael Brown sold 1,700 shares of the business’s stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $85.48, for a total value of $145,316.00. Following the completion of the sale, the executive vice president directly owned 98,185 shares in the company, valued at approximately $8,392,853.80. This represents a 1.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Michael Jon Brown also recently made the following trade(s):
On Tuesday, September 15th, Michael Brown sold 1,700 shares of DexCom stock. The shares were sold at an average price of $84.04, for a total value of $142,868.00. DexCom Price Performance NASDAQ:DXCM opened at $85.98 on Tuesday. The company has a quick ratio of 1.43, a current ratio of 1.73 and a debt-to-equity ratio of 0.47. The firm has a market cap of $32.45 billion, a PE ratio of 33.98, a price-to-earnings-growth ratio of 1.44 and a beta of 1.48. The company’s 50-day moving average price is $87.58 and its two-hundred day moving average price is $76.12. DexCom, Inc. has a 12 month low of $54.11 and a 12 month high of $92.59.
DexCom (NASDAQ:DXCM – Get Free Report) last announced its earnings results on Thursday, July 30th. The medical device company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.09. The company had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.29 billion. DexCom had a net margin of 20.12% and a return on equity of 35.94%. The company’s revenue was up 13.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.48 earnings per share. On average, equities analysts anticipate that DexCom, Inc. will post 2.64 EPS for the current fiscal year. Analyst Upgrades and Downgrades DXCM has been the topic of a number of research reports. Raymond James Financial restated a “strong-buy” rating and set a $94.00 target price on shares of DexCom in a research report on Friday, July 31st. Argus lifted their price target on shares of DexCom from $86.00 to $96.00 and gave the stock a “buy” rating in a research report on Tuesday, August 4th. Weiss Ratings upgraded shares of DexCom from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, October 6th. Piper Sandler reissued an “overweight” rating and set a $95.00 price target (up from $88.00) on shares of DexCom in a research note on Friday, July 31st. Finally, TD Cowen restated a “buy” rating and issued a $95.00 price objective on shares of DexCom in a report on Friday, September 18th. Three investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, DexCom has a consensus rating of “Buy” and a consensus target price of $92.43.
View Our Latest Stock Report on DXCM
Institutional Investors Weigh In On DexCom Institutional investors have recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of DexCom by 15.6% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,261,876 shares of the medical device company’s stock worth $758,487,000 after buying an additional 1,515,702 shares during the period. Janus Henderson Group PLC increased its stake in shares of DexCom by 32.3% in the 1st quarter. Janus Henderson Group PLC now owns 2,644,539 shares of the medical device company’s stock valued at $166,077,000 after acquiring an additional 645,534 shares during the last quarter. Legal & General Group Plc bought a new stake in shares of DexCom in the 2nd quarter valued at about $173,237,000. Arrowstreet Capital Limited Partnership raised its position in shares of DexCom by 100.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,545,103 shares of the medical device company’s stock valued at $159,832,000 after acquiring an additional 1,275,142 shares during the period. Finally, Deutsche Bank AG acquired a new stake in shares of DexCom in the 2nd quarter valued at approximately $164,035,000. 97.75% of the stock is owned by institutional investors and hedge funds.
DexCom Company Profile (Get Free Report)
DexCom, Inc develops and commercializes continuous glucose monitoring (CGM) systems for people with diabetes. Its devices use a small wearable sensor to measure glucose levels in real time and transmit readings to compatible smartphones, receivers, smartwatches, and other connected devices, helping users monitor glucose trends and make informed decisions about their health.
The company’s product portfolio includes the Dexcom G7 and Dexcom G6 CGM systems, as well as Dexcom ONE and Dexcom ONE+ products offered in select markets.
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DexCom is transforming into the premium CGM provider with the lowest cost per patient-day and robust clinical evidence, especially for non-insulin Type 2 diabetes. The G7 15-Day sensor transition cut manufacturing costs, driving Q2 2026 gross margin up 400 bps to 64.1% and enabling 70% incremental operating margins. CONNECT study results published in NEJM reinforce DXCM's clinical leadership, particularly among GLP-1 users, supporting expanded coverage and future growth.
Hello Health Rounds readers! Today we highlight a study that found benefits of wearable glucose monitoring devices for all patients with diabetes, regardless of insulin dependence. We also report on a positive trial of a J&J pill in ulcerative colitis, and a discovery about ovaries after menopause.
Continuous glucose monitoring benefits all with diabetes
The benefits of wearable continuous glucose monitoring devices extend even to patients with diabetes who do not use insulin, a new study found.
Until now, the devices have been recommended only for patients receiving insulin.
In a six-month trial sponsored by device manufacturer Dexcom (DXCM.O), 283 adults with type 2 diabetes who were not using insulin received either continuous glucose monitoring with the Dexcom G7 — a coin-size plastic disc worn on the upper arm — or routine care.
The average hemoglobin A1c — a measure of average blood sugar levels over time — fell from 8.8% to 7.2% in the monitoring group and from 8.7% to 8.0% in the routine-care group.
After accounting for individual risk factors, Dexcom G7 users had a nearly 1% greater reduction in HbA1c level compared to patients getting routine care, researchers reported in The New England Journal of Medicine.
Participants using the wearable device also spent approximately five additional hours per day in the glucose target range of 70–180 mg/dL compared with those receiving routine care.
The benefit was seen regardless of age, sex, race and ethnicity, body mass index, income, education, health insurance and use of glucose-lowering medications.
When the study ended, 97% of participants were still using the monitors, most on a daily basis, the researchers noted.
“The consistency of benefit across a broad range of people and treatment regimens supports consideration of the use of a continuous glucose monitor much earlier in type 2 diabetes management before insulin is needed,” study leader Dr. Roy Beck of the Jaeb Center for Health Research in Tampa, Florida, said in a statement.
J&J pill succeeds in ulcerative colitis trial
Johnson & Johnson's (JNJ.N) new psoriasis pill Icotyde significantly outperformed a placebo as a treatment for ulcerative colitis in a mid-stage trial.
Known chemically as icotrokinra, Icotyde is a first-in-class oral peptide that blocks the interleukin-23 protein on immune cells. Previous IL-23 blockers were given intravenously.
In the 252-patient trial, participants with moderate to severe active ulcerative colitis received either 400 milligrams of icotrokinra, 200 mg, 100 mg or a placebo, daily.
All doses of icotrokinra were superior to placebo for producing a clinical response — a decrease in disease activity and symptoms like rectal bleeding — at week 12, the researchers said. At 400 mg daily, 63% experienced a clinical response. It was 58% in the 200-mg group, 55% in the 100-mg group, and 27% in the placebo group, the researchers reported in The New England Journal of Medicine.
The rate of clinical remission at week 12 was also significantly higher with 400 mg than with placebo at 30% versus 11%, as were the rates of symptomatic remission (46% vs 19%) and endoscopic improvement (37% vs 14%).
Remissions at week 12 were maintained through 28 weeks of treatment, the researchers said.
“Icotrokinra was effective even in hard-to-treat patients who had failed previous drug regimens,” study leader Dr. Maria Abreu of Cedars-Sinai Medical Center in Los Angeles said in a statement. “The fact that the medicine can be taken orally will help us improve the range of options we have for treating patients.”
The researchers said they hope to study the drug in patients with Crohn’s disease as J&J looks to expand approvals for the medication.
Ovaries keep working after menopause
A paradigm-shifting study found human ovaries do not become dormant after menopause, raising questions about whether they play a role in aging and chronic disease.
While their reproductive functions end, ovaries remain biologically active for decades and continue to remodel with age, showing increased inflammation and changes in tissue structure, researchers reported in Aging Cell.
“In the ovary, we reach a point of no return with respect to fertility in which it's no longer producing eggs, and I would venture to say most people assume those ovaries are just sitting there doing nothing, similar to the appendix,” study co-leader Francesca Duncan of Northwestern University Feinberg School of Medicine said in a statement.
Her team's findings challenge that notion.
The researchers studied 28 ovaries obtained from women within 25 years after menopause. Over the decades, some protein levels in the ovaries would go up and some would go down.
For example, ovaries from younger postmenopausal women had more proteins involved in maintaining cells and tissue structure, while older ovaries had more proteins associated with inflammation, immune activity and the ongoing breakdown and rebuilding of the tissue surrounding cells.
The study also found a molecular link between ovarian aging and cancer.
Although all the ovarian tissue in the study appeared normal and cancer-free, some proteins previously associated with ovarian cancer were more abundant in aging ovaries, suggesting that healthy ovarian aging and ovarian cancer share some of the same biological processes.
“It's not that all postmenopausal women get ovarian cancer, but we know that the fibrotic inflammatory environment is certainly an environment that cancer cells prefer to home in on,” Duncan said.
The findings do not mean healthy ovaries should be removed after menopause, the researchers emphasized. But the discovery could spur research into drugs that "target the aging ovary therapeutically to lower the risk of ovarian cancer" or the development of novel biomarkers of ovarian cancer, Duncan said.
SAN DIEGO--(BUSINESS WIRE)--DexCom, Inc. (NASDAQ: DXCM), the global leader in glucose biosensing, today announced that results from the landmark CONNECT randomized controlled trial have been published in The New England Journal of Medicine (NEJM), providing rigorous evidence of the significant benefits of continuous glucose monitoring (CGM) for adults with Type 2 diabetes not on insulin. CONNECT participants using Dexcom G7 experienced an average 1.6% A1C reduction from a mean baseline of 8.8%,.
Key Takeaways DexCom's second-quarter 2026 gross margin rose to 64.1%, while operating margin climbed to 25.1%.Nearly 50% of U.S. customers are expected to transition to G7 15-day by year-end 2026.Ireland factory costs, forex headwinds and higher oil-linked input costs could limit near-term margin gains. DexCom, Inc. (DXCM - Free Report) is well positioned for growth in the coming quarters, supported by the significant potential of the continuous glucose monitoring (CGM) market. A strong first-quarter 2026 performance and a robust international foothold are expected to contribute further. Risks related to stiff competition persist.
This Zacks Rank #3 (Hold) company’s shares have gained 29.4% so far this year against the industry’s 5.7% decline. The S&P 500 Index has gained 13.9% in the same time frame.
DXCM, a renowned medical device company and provider of CGM systems, has a market capitalization of $31.74 billion. It projects a 22.6% growth rate over the next five years and anticipates maintaining a strong performance going forward.
DexCom’s earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 11.39%.
Let’s delve deeper.
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Positive DriversManufacturing Efficiencies and Operating Leverage Boost Profitability: DexCom’s improving manufacturing efficiency and operating discipline are supporting stronger earnings growth. In the second quarter of 2026, gross margin expanded 400 basis points year over year to 64.1%, while operating margin increased to 25.1% from 19.2%.
Operating expenses grew at a slower pace than revenues, demonstrating improved operating leverage even as the company invested in its Ireland facility. Management also raised its full-year gross margin guidance to approximately 64% and operating margin guidance to 23.5-24%. Sustaining these improvements could allow DexCom to convert incremental revenues to stronger operating income, although upcoming manufacturing investments may temporarily moderate the gains.
G7 15-Day Conversion Creates a Multiyear Product-Mix Opportunity: DexCom’s G7 15-day system is progressing toward a substantial shift in its U.S. product mix. Management expects nearly 50% of its U.S. customer base to transition to the system by the end of 2026. A greater contribution to profitability is expected in 2027 as more customers establish recurring purchasing patterns.
The rollout has also benefited from improved customer feedback, with G7 Net Promoter Scores rising for three consecutive quarters. Integration with Tandem’s insulin-delivery systems has removed an important adoption barrier, while Health Canada’s clearance provides a path to international expansion. The transition could therefore support sustained top- and bottom-line improvement beyond the current year.
Smart Basal and G8 Expand DexCom’s Longer-Term Innovation Potential: DexCom’s product pipeline could strengthen its competitive positioning beyond existing continuous glucose monitoring applications. Its Smart Basal dosing module is being piloted with key opinion leaders, and management reported that participating practices helped customers reach an optimal basal insulin dose in an average of three weeks, compared with 12 weeks or longer in routine care.
Meanwhile, the G8 sensor remains on track for late 2027 or early 2028, subject to regulatory timing. Management expects improvements in accuracy and reliability, reduction in size to approximately half of G7, and eventual expansion into additional analytes. Successful execution could broaden clinical utility and create new opportunities in diabetes management and metabolic health.
RisksIreland Factory Ramp-Up Could Temporarily Pressure Margins: DexCom’s margin expansion may face a near-term interruption as its Ireland manufacturing facility moves toward commercial production. Hiring and training should have increased in the third quarter before production lines become operational, with depreciation also beginning during the ramp-up.
A newly activated factory typically carries higher per-unit manufacturing costs until production volumes improve and fixed costs are absorbed more efficiently. Consequently, the facility’s initial operating burden could offset some of the benefits from manufacturing efficiencies and the G7 15-day product transition. While the investment is intended to support future capacity, the pace of production ramp-up will be key to near-term profitability.
Forex Movements Could Limit Reported Revenue Growth: Currency movements represent a measurable headwind to DexCom’s reported revenue outlook. Although management raised its full-year revenue guidance to $5.18-$5.25 billion, it expects recent foreign-exchange movements to reduce international revenues by approximately $15 million in the second half of 2026 relative to its previous assumptions. This creates a potential divergence between underlying operating performance and reported growth, particularly because international markets account for a meaningful portion of sales.
Management noted that the revised guidance still implies an improvement in expected organic growth, but investors will need to distinguish constant-currency performance from reported results when evaluating the company’s progress.
Higher Oil-Linked Input Costs Could Weigh on Near-Term Profitability: DexCom remains exposed to delayed input-cost pressure from higher oil prices because petroleum-based resins take time to move through procurement, manufacturing, inventory accounting and reported expenses. Management indicated that some of this impact had already flowed through in the second quarter, with additional effects expected in the third quarter.
Although the company said the headwind was broadly consistent with prior expectations, this exposure could constrain further margin expansion if input costs remain elevated or operational improvements fail to fully offset them. The risk is particularly relevant during the Ireland facility ramp-up, when incremental manufacturing costs could coincide with lingering resin-price pressure.
Estimate TrendDexCom has witnessed a stable estimate revision trend for 2026. In the past 30 days, the Zacks Consensus Estimate for 2026 earnings per share has remained unchanged at $2.64.
The consensus mark for the company’s third-quarter revenues is pegged at $1.32 billion, indicating a 9.4% improvement from the year-ago quarter’s reported number. The consensus estimate for third-quarter earnings is pinned at 66 cents per share, implying an improvement of 8.2% year over year.
Stocks to ConsiderSome better-ranked stocks from the broader medical space are AxoGen (AXGN - Free Report) , Globus Medical (GMED - Free Report) andWest Pharmaceutical Services (GKOS - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
AxoGen reported second-quarter 2026 earnings per share (EPS) of 12 cents, which surpassed the Zacks Consensus Estimate by 33.3%. Revenues of $70 million beat the Zacks Consensus Estimate by 4.3%. AXGN has an estimated earnings growth rate of 48.4% for 2026, likely followed by another strong growth of 60.9% in 2027. The company’s earnings beat estimates in two of the trailing four quarters and missed in the other two, the average surprise being 6.25%.
Globus Medical reported second-quarter 2026 adjusted EPS of $1.34, which surpassed the Zacks Consensus Estimate by 19.6%. Revenues of $789.6 million beat the Zacks Consensus Estimate by 0.4%.
GMED has an estimated long-term earnings growth rate of 12.4%. The company’s earnings beat estimates in each of the trailing four quarters, the average surprise being 27.9%.
West Pharmaceutical reported second-quarter 2026 adjusted EPS of $2.37, which beat the Zacks Consensus Estimate by 13.9%. Revenues of $872.3 million surpassed the Zacks Consensus Estimate by 4.2%.
WST has an estimated long-term earnings growth rate of 16%. Its earnings surpassed estimates in each of the trailing four quarters, the average surprise being 17.4%.
HWG Holdings LP acquired a new stake in shares of DexCom, Inc. (NASDAQ:DXCM – Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 96,427 shares of the medical device company’s stock, valued at approximately $8,321,000. DexCom makes up approximately 1.9% of HWG Holdings LP’s portfolio, making the stock its 14th largest holding.
Other institutional investors have also bought and sold shares of the company. Reflection Asset Management purchased a new position in DexCom during the fourth quarter worth approximately $25,000. Ascentis Independent Advisors acquired a new stake in shares of DexCom in the 1st quarter worth $25,000. Elevation Wealth Partners LLC increased its stake in shares of DexCom by 61.0% in the 3rd quarter. Elevation Wealth Partners LLC now owns 401 shares of the medical device company’s stock worth $35,000 after acquiring an additional 152 shares during the last quarter. Wellington Grp LLC raised its holdings in shares of DexCom by 778.7% during the 1st quarter. Wellington Grp LLC now owns 536 shares of the medical device company’s stock worth $34,000 after acquiring an additional 475 shares during the period. Finally, Cassaday & Co Wealth Management LLC acquired a new position in shares of DexCom during the 1st quarter valued at about $44,000. 97.75% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes Several equities analysts have weighed in on the stock. Royal Bank Of Canada reiterated an “outperform” rating and issued a $105.00 target price (up from $90.00) on shares of DexCom in a report on Thursday, October 1st. BTIG Research reaffirmed a “buy” rating and set a $90.00 price target (up from $80.00) on shares of DexCom in a research report on Friday, July 31st. Argus upped their price objective on DexCom from $86.00 to $96.00 and gave the company a “buy” rating in a report on Tuesday, August 4th. Robert W. Baird set a $105.00 price objective on DexCom in a research report on Friday, July 31st. Finally, Wall Street Zen raised DexCom from a “hold” rating to a “buy” rating in a research note on Sunday, September 6th. Three research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $91.96.
Check Out Our Latest Analysis on DXCM Insider Buying and Selling at DexCom In related news, insider Kevin Sayer sold 26,756 shares of the stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $76.32, for a total transaction of $2,042,017.92. Following the transaction, the insider owned 328,970 shares of the company’s stock, valued at approximately $25,106,990.40. This represents a 7.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Sadie Stern sold 2,565 shares of the firm’s stock in a transaction dated Monday, September 28th. The shares were sold at an average price of $86.15, for a total value of $220,974.75. Following the transaction, the executive vice president owned 123,478 shares of the company’s stock, valued at $10,637,629.70. This trade represents a 2.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 49,313 shares of company stock valued at $3,945,875. Corporate insiders own 0.28% of the company’s stock.
DexCom Stock Performance Shares of DXCM stock opened at $84.30 on Thursday. The firm’s 50 day moving average price is $87.33 and its 200-day moving average price is $74.97. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.43 and a current ratio of 1.73. DexCom, Inc. has a one year low of $54.11 and a one year high of $92.59. The firm has a market cap of $31.81 billion, a P/E ratio of 33.32, a P/E/G ratio of 1.40 and a beta of 1.48.
DexCom (NASDAQ:DXCM – Get Free Report) last posted its earnings results on Thursday, July 30th. The medical device company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.09. The firm had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.29 billion. DexCom had a net margin of 20.12% and a return on equity of 35.94%. The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.48 EPS. As a group, equities research analysts predict that DexCom, Inc. will post 2.64 EPS for the current year.
About DexCom (Free Report)
DexCom, Inc (NASDAQ: DXCM) develops and commercializes continuous glucose monitoring (CGM) systems for people with diabetes. Its technology uses a small wearable sensor to measure glucose levels continuously and transmit readings to a compatible receiver, smartphone or other connected device, helping users monitor glucose trends and make more informed treatment and lifestyle decisions.
The company’s product portfolio includes the Dexcom G7 and Dexcom G6 real-time CGM systems, as well as related software and digital health tools such as Dexcom Clarity for glucose data analysis and reporting.
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[url="]DEXCOM[/url], INC. (NASDAQ: DXCM), the global leader in glucose biosensing, announced today the launch of the fifth season of [url="]Dexcom U[/url], the
SAN DIEGO--(BUSINESS WIRE)--DEXCOM, INC. (NASDAQ: DXCM), the global leader in glucose biosensing, announced today the launch of the fifth season of Dexcom U, the company's one-of-a-kind NIL (Name, Image and Likeness) program exclusively for college athletes with diabetes.Now in its fifth year, this marks the program's largest and most expansive roster to date, featuring 27 college athletes, 12 new and 15 returning, across 13 sports. The expansion is backed by new research showing that programs l.
Key Takeaways Dexcom's report highlights low CGM awareness and reimbursement barriers among Type 2 diabetes patients.Among Type 2 patients taking GLP-1 medicines, 58% use CGM alongside their medication.Dexcom sees growth avenues in broader Type 2 adoption, GLP-1 integration and greater CGM awareness. Dexcom (DXCM - Free Report) recently released its 2026 “State of Type 2 Report: Global Access and Attitudes to Diabetes Technology” ahead of the 62nd Annual Meeting of the European Association for the Study of Diabetes (EASD). The report highlights significant gaps in continuous glucose monitoring (CGM) awareness and access while pointing to growing potential for combining CGM with GLP-1 therapies. Dexcom also partnered with Team Novo Nordisk, an all-diabetic professional cycling team principally sponsored by Novo Nordisk (NVO - Free Report) , demonstrating its focus on expanding awareness and adoption of CGM technology.
CGM Adoption Shows Room for ExpansionDexcom’s survey of more than 800 healthcare professionals (HCPs) and 2,500 people with Type 2 diabetes across eight countries highlights a substantial opportunity for CGM adoption. While 89% of HCPs believe CGM helps assess treatment adherence between appointments, 55% of surveyed Type 2 diabetes patients reported limited knowledge of the technology.
Access remains another major hurdle, with reimbursement and coverage challenges cited by 90% of U.S. HCPs and 53% of HCPs across the other seven countries surveyed. Existing users reported strong benefits, with 94% saying CGM helps them manage diabetes more independently and 91% using CGM data to guide treatment decisions.
The findings suggest that greater awareness, physician recommendations and improved reimbursement could expand CGM penetration beyond its current user base, creating a significant opportunity for Dexcom.
GLP-1 and CGM Convergence Creates New OpportunityThe report highlights an emerging intersection between CGM and GLP-1 therapies. Among Type 2 diabetes patients taking GLP-1 medicines, 58% use CGM alongside their medication, compared with only 27% of Type 2 patients who are not using insulin. Meanwhile, a majority of patients are open to using CGM when recommended alongside a GLP-1, while half of HCPs expect increasing GLP-1 use to drive CGM adoption.
This trend could broaden the role of CGM beyond traditional glucose monitoring as GLP-1 use expands across diabetes and obesity care. Novo Nordisk, one of the leading GLP-1 companies, has a broad portfolio spanning Ozempic, Rybelsus and Wegovy, while advancing next-generation cardiometabolic therapies.
Strategic ImplicationsDexcom’s latest report reinforces the sizeable growth opportunity in CGM as diabetes care is shifting toward data-driven, patient-centered management. The combination of low awareness, reimbursement barriers and growing interest in CGM-plus-GLP-1 treatment leaves substantial room for market expansion.
The Team Novo Nordisk partnership further extends Dexcom’s visibility within the Type 1 diabetes community while creating opportunities for real-world research, education and awareness.
The report points to three interconnected growth avenues for DXCM — broader Type 2 adoption, greater integration with GLP-1 therapy and continued expansion of CGM awareness. At the same time, Abbott Laboratories’ (ABT - Free Report) competing Libre platform underscores the interconnected and competitive nature of the diabetes-care market.
CGM Players Stand to BenefitThe CGM market continues to evolve as established companies like Abbott Laboratories and MiniMed (MMED - Free Report) are pursuing differentiated strategies centered on accessibility, sensor innovation and connected insulin delivery.
Abbott Laboratories, through its FreeStyle Libre franchise, is broadening CGM adoption across people with diabetes. The company has introduced Libre Assist, an AI-powered feature within the Libre app that uses food information and CGM data to provide personalized, in-the-moment guidance on potential glucose impact. In March, the FreeDM2 trial showed that Libre CGM use among people with Type 2 diabetes on basal insulin produced a greater HbA1c reduction and more time in the healthy glucose range versus traditional finger-prick testing, including patients receiving GLP-1 therapy.
In May 2026, Abbott Laboratories secured the CE Mark for Libre Duo and Libre Duo 10 Day, the world’s first dual glucose-ketone sensing technology. It received FDA authorization in August 2026 for Libre Duo 10 Day, enabling continuous glucose and ketone monitoring through a single wearable sensor. The company also partnered with Google Health to combine Lingo CGM data with AI-powered health coaching. Recent EASD data showed that CGM use, including Libre, was associated with lower mortality and fewer acute diabetes-related hospitalizations among people with Type 2 diabetes using basal insulin. ABT’s Libre portfolio now serves more than eight million users across 60+ countries.
On the GLP-1 front, Abbott Laboratories partnered with Novo Nordisk India in February to commercialize semaglutide under the Extensior brand, extending its diabetes portfolio into GLP-1 therapy.
MiniMed represents another player in the CGM space. Following its separation from Medtronic in March 2026, the MiniMed 780G received CE Mark for use with Abbott Laboratories’ Instinct sensor in Europe, adding a 15-day CGM option. The system is also compatible with the Guardian 4 and Simplera Sync sensors.
MiniMed Flex, the company’s app-controlled automated insulin pump, also received FDA clearance in March. It is designed to fit into everyday life and supports both Instinct and Simplera Sync sensors. MiniMed also launched Instinct sensors, made by Abbott, in Europe, while announcing plans for Abbott-made integrated dual glucose-ketone sensors to expand continuous monitoring beyond glucose. In August, MiniMed began shipping MiniMed Flex with the Instinct sensor, strengthening integration between its app-controlled insulin pump and CGM portfolio.
As CGM adoption expands beyond insulin-treated patients, established device makers could benefit from the broader shift toward continuous, data-driven diabetes management.
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Stock to Watch: DexCom (DXCM - Free Report) San Diego, CA-based DexCom, Inc. is a medical device company focused on the design, development and commercialization of continuous glucose monitoring systems (CGM). These are for ambulatory use by people with diabetes and by healthcare providers for the treatment of diabetic and non-diabetic patients.
DXCM is a #3 (Hold) on the Zacks Rank, with a VGM Score of B.
Additionally, the company could be a top pick for growth investors. DXCM has a Growth Style Score of A, forecasting year-over-year earnings growth of 26.3% for the current fiscal year.
Seven analysts revised their earnings estimate upwards in the last 60 days for fiscal 2026. The Zacks Consensus Estimate has increased $0.04 to $2.64 per share. DXCM boasts an average earnings surprise of +11.4%.
With a solid Zacks Rank and top-tier Growth and VGM Style Scores, DXCM should be on investors' short list.
Dexcom Publishes New Report During EASD 2026 on Type 2 Diabetes Revealing Critical Opportunity for Global Diabetes Care DexCom, Inc. (NASDAQ: DXCM), the global leader in glucose biosensing, today released its “Dexcom State of Type 2 Report: Global Access and Attitudes to Diabetes Technology” in advance of the 62nd Annual Meeting of the European Association for the Study of Diabetes (EASD) in Milan, Italy, Sept. 28-Oct. 2. The company also announced a partnership to become the official continuous glucose monitor of Team Novo Nordisk.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260927863719/en/
Dexcom announced a new partnership with Team Novo Nordisk, the world’s only all-diabetes professional cycling team, to become the official continuous glucose monitoring partner.
Dexcom releases 2026 edition of its State of Type 2 Report
This year’s report provides valuable insight into how attitudes and experiences related to Type 2 diabetes and technology have evolved over the past year. Dexcom surveyed more than 800 healthcare professionals and 2,500 people with Type 2 diabetes across eight countries, including Germany, Italy, Japan, Poland, Saudi Arabia, Sweden, the United Kingdom and the United States.
The new 2026 data highlights an urgent opportunity for people with Type 2 diabetes: closing the gap between CGM's proven, transformative impact and the millions with Type 2 who lack awareness or access to this solution. Key takeaways from the 2026 report released today include:
HCPs recognize CGM as essential to Type 2 diabetes management: 89% of HCPs believe CGM helps them assess treatment adherence between appointments, and more than half of current CGM users report they have followed their treatment plan more closely since adoption.1CGM delivers exceptional results, but access barriers limit impact: Awareness remains low among people with Type 2 diabetes, with 55% reporting limited knowledge of CGM. At the same time, coverage and reimbursement challenges impede adoption, cited by 90% of U.S. HCPs and 53% of HCPs in the other seven surveyed countries.1 Despite these barriers, CGM users report outstanding outcomes: 94% manage diabetes more independently, 93% find CGM easy to use, and 91% use its data to guide treatment decisions.1GLP-1 and CGM adoption as a paired treatment has increased—with potential for greater uptake: 58% of people with Type 2 diabetes who use GLP-1s pair CGM with their medication but only 27% of Type 2 non-insulin users do so1 despite building clinical evidence supporting greater clinical outcomes when CGM is used with a GLP-1.2 Meanwhile, a majority of patients are open to CGM if recommended alongside a GLP-1, and half of HCPs expect growing GLP-1 use to boost CGM uptake, indicating the opportunity for convergence is significant and largely underutilized.1Read the full State of Type 2 Report at www.dexcom.com/StateofT2.
New partnership underscores Dexcom’s commitment to the Type 1 diabetes community
Further demonstrating its commitment to the Type 1 diabetes community and leadership in CGM, Dexcom announced a new partnership with Team Novo Nordisk, the world’s only all-diabetes professional cycling team, to become the official continuous glucose monitoring partner.
“Our mission is to inspire, educate, and empower everyone affected by diabetes, which aligns with Dexcom’s goal to advance education and awareness around glucose insights,” said Phil Southerland, CEO and Co-Founder of Team Novo Nordisk. “Every rider on our team lives with Type 1 diabetes, and we race all over the globe in the most challenging conditions. It's about as demanding as real-world use gets. For a kid watching a professional athlete manage Type 1 diabetes with the same sensor they wear at home, that visibility and representation matter more than anything we could tell them.”
The partnership will create new opportunities to advance real-world research, education and awareness of the role glucose insights can play in supporting people with Type 1 diabetes.
“I have raced for this team since 2012, and in that time the technology has changed more than the bikes have. When I started, checking my glucose told me where I already was. Now I can see where I'm heading and make a decision before it becomes a problem,” said David Lozano, professional cyclist with Team Novo Nordisk. “I look at that data during and after every ride, the same way I look at my power files. It's an integral part of how I train, not something separate from it.”
This partnership reflects Dexcom’s continued commitment to supporting the Type 1 diabetes community beyond CGM technology by helping expand awareness, resources and education.
For more information on the clinical data being presented by Dexcom during the conference, visit https://dexcom.events/industry-easd-2026/Home.
About Dexcom
Dexcom empowers people to take control of health through innovative biosensing technology. Founded in 1999, Dexcom has pioneered and set the standard in glucose biosensing for more than 25 years. Its technology has transformed how people manage diabetes and track their glucose, helping them feel more in control and live more confidently.
Dexcom. Discover what you’re made of. For more information, visit www.dexcom.com.
Category: IR
1Dexcom State of Type 2 Report, Dexcom data on file, 2026. 2Oser T, et al. CGM for Adults with Type 2 Diabetes Not on Insulin: The CONNECT Randomized Controlled Trial. Presented at the 2026 Scientific Sessions of the American Diabetes Association, June 6, 2026. New Orleans, LA; USA. 3Nemlekar P, et al. Rt-CGM initiation is associated with reductions in DKA-related hospitalizations and emergency room visits in children and adults with type 1 diabetes. Presented at the 2026 Annual Meeting of the European Association for the Study of Diabetes, Sept. 29, 2026. Milan, Italy.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260927863719/en/
Disclosures I/we have no positions in any stocks mentioned, and have no plans to buy any new positions in the stocks mentioned within the next 72 hours.
MILAN--(BUSINESS WIRE)--DexCom, Inc. (NASDAQ: DXCM), the global leader in glucose biosensing, today released its “Dexcom State of Type 2 Report: Global Access and Attitudes to Diabetes Technology” in advance of the 62nd Annual Meeting of the European Association for the Study of Diabetes (EASD) in Milan, Italy, Sept. 28-Oct. 2. The company also announced a partnership to become the official continuous glucose monitor of Team Novo Nordisk. Dexcom releases 2026 edition of its State of Type 2 Repo.
DexCom, Inc. (NASDAQ:DXCM – Get Free Report) has been assigned a consensus rating of “Moderate Buy” from the twenty-six ratings firms that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $89.08.
Several analysts have issued reports on DXCM shares. Wall Street Zen raised shares of DexCom from a “hold” rating to a “buy” rating in a research report on Sunday, September 6th. Canaccord Genuity Group set a $90.00 price objective on shares of DexCom and gave the company a “buy” rating in a research report on Monday, August 3rd. Mizuho boosted their price objective on shares of DexCom from $90.00 to $95.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Citigroup reaffirmed a “buy” rating and issued a $88.00 target price (up from $84.00) on shares of DexCom in a report on Friday, July 31st. Finally, Benchmark raised their target price on shares of DexCom from $77.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, July 31st.
Check Out Our Latest Stock Report on DexCom
DexCom Stock Down 0.3% DXCM stock opened at $87.47 on Friday. The company has a market cap of $33.01 billion, a price-to-earnings ratio of 34.57, a P/E/G ratio of 1.50 and a beta of 1.42. DexCom has a twelve month low of $54.11 and a twelve month high of $92.59. The business has a 50 day moving average price of $85.16 and a two-hundred day moving average price of $73.77. The company has a quick ratio of 1.43, a current ratio of 1.73 and a debt-to-equity ratio of 0.47. DexCom (NASDAQ:DXCM – Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The medical device company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.09. The company had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.29 billion. DexCom had a return on equity of 35.94% and a net margin of 20.12%.The business’s revenue was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.48 EPS. Analysts anticipate that DexCom will post 2.64 EPS for the current fiscal year.
Insider Transactions at DexCom In other news, Director Nicholas Augustinos sold 6,539 shares of the firm’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $84.04, for a total value of $549,537.56. Following the completion of the sale, the director directly owned 29,293 shares of the company’s stock, valued at $2,461,783.72. This trade represents a 18.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jereme M. Sylvain sold 3,638 shares of DexCom stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $83.27, for a total value of $302,936.26. Following the transaction, the executive vice president owned 146,828 shares of the company’s stock, valued at $12,226,367.56. This represents a 2.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 73,504 shares of company stock valued at $5,651,332. Company insiders own 0.28% of the company’s stock.
Hedge Funds Weigh In On DexCom Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Reflection Asset Management acquired a new stake in shares of DexCom during the 4th quarter worth about $25,000. Ascentis Independent Advisors acquired a new position in DexCom in the 1st quarter valued at about $25,000. MCF Advisors LLC acquired a new position in shares of DexCom in the fourth quarter valued at approximately $32,000. Wellington Grp LLC grew its position in shares of DexCom by 778.7% in the first quarter. Wellington Grp LLC now owns 536 shares of the medical device company’s stock valued at $34,000 after purchasing an additional 475 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC bought a new position in shares of DexCom during the first quarter worth approximately $44,000. 97.75% of the stock is owned by institutional investors.
DexCom Company Profile (Get Free Report)
DexCom, Inc develops and commercializes continuous glucose monitoring (CGM) systems that measure glucose levels in real time. Its technology is designed to help people with diabetes monitor glucose trends and make more informed treatment and lifestyle decisions without relying solely on traditional fingerstick testing.
The company’s products include the Dexcom G7 and Dexcom G6 CGM systems, which use a small wearable sensor, transmitter or integrated sensor, and mobile applications to display glucose data.
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Oura Inc. NASDAQ: OURA launched its roadshow on Sept. 21, 2026, targeting a Nasdaq debut under the ticker OURA during the week of Sept. 28. Offering 50 million shares priced between $40 and $44 each, Oura is targeting an initial market capitalization of around $12.8 billion to $14.1 billion, representing approximately $15.6 billion on a fully diluted basis.
Hardware debuts frequently face investor skepticism over cyclical consumer tastes, yet this transaction presents an evolving financial profile. Backed by direct institutional interest from major pharmaceutical leaders, Oura is transforming from a personal wellness device into an essential biometric data layer for metabolic healthcare. Understanding how those fundamentals interact helps clarify where value lies as trading begins.
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Oura’s IPO Tests a Premium ValuationHardware makers often struggle with uneven revenue because sales depend on multi-year upgrade cycles. When a customer buys a physical device once every three or four years, total customer lifetime value stays limited. Oura tackles this structural hurdle by pairing titanium rings with an ongoing membership model priced at $5.99 per month.
Regulatory filings reveal how rapidly this recurring model is expanding. For the nine months ended June 30, 2026, membership software revenue grew about 121% year over year (YOY) to around $240.5 million. Total net revenue advanced about 74% YOY to $1.21 billion during the same period, showing that predictable subscription cash flows are compounding at nearly double the pace of physical ring shipments.
Oura's engagement metrics explain that operational velocity. Oura supports around five million active paid members across 56 geographic markets. These users record a median daily wear time of 23 hours, generating an active ratio of roughly 65% for daily active users compared to monthly active users. The platform also preserves an 85% 12-month paid subscriber retention rate.
In fundamental economics, high user engagement paired with durable retention lowers long-term customer acquisition costs. That operating leverage pushed gross margin up to 55% from 51% in the prior-year period. It also propelled Oura into positive operational profitability, producing $60.8 million in net income and around $106.7 million in earnings before interest, taxes, depreciation, and amortization (EBITDA).
Big Pharma Is Buying Into the RingThe defining fundamental catalyst behind recent institutional demand is the intersection of consumer wearables and clinical metabolic therapy. As millions of patients begin glucagon-like peptide-1 (GLP-1) treatments for diabetes and weight management, medical practitioners face a practical hurdle: observing continuous physiological responses outside clinic visits.
Oura entered this workflow by introducing software features that track heart rate variability, sleep quality shifts, and lean muscle retention during weight-loss regimens. That clinical functionality attracted pharmaceutical leader Eli Lilly and Company NYSE: LLY, which indicated interest in buying up to $100 million of common stock in the offering. Eli Lilly already collaborates with Oura to integrate biometric tracking through the LillyDirect digital healthcare channel, offering patients and doctors continuous data on treatment response.
Expanding that health infrastructure, an operational partnership with continuous biosensor pioneer Dexcom Inc. NASDAQ: DXCM connects glucose readings from the Stelo sensor directly into the Oura mobile software.
This integration creates a two-way feedback loop, enabling members to see how nutritional spikes affect overnight resting heart rates and daytime recovery scores. By establishing these clinical connections, Oura transitions from a consumer fitness gadget into a continuous monitoring asset.
How Oura Stacks Up Against Wearable PeersEvaluating Oura requires balancing hardware production realities against high-margin software multiples. At the midpoint price of $42 per share, Oura trades at around 9.7x annualized sales, based on its latest nine-month run rate.
Traditional consumer electronics manufacturers like Garmin Ltd. NYSE: GRMN trade closer to 7.5x sales, while diversified technology leaders like Apple Inc. NASDAQ: AAPL command roughly 12x sales.
Institutional backers, including Dragoneer Investment Group with an indicated order of up to $300 million, appear comfortable paying a growth premium because Oura is generating 74% top-line revenue growth while delivering positive net income. Most initial public offerings over recent years entered public markets with widening operational deficits.
Proprietary intellectual property also provides a defensive barrier around this multiple. Following patent enforcement proceedings before the U.S. International Trade Commission, Oura secured licensing agreements and recurring royalties from competing smart ring brands. Those legal protections limit low-cost overseas manufacturers from copying its miniaturized sensor package without paying royalties.
Patent Strength Comes With Legal RiskInvestors should weigh these fundamental advantages against distinct operational risks. Ring hardware sales still generate approximately 80% of total revenue. Despite rapid subscription gains, Oura remains exposed to cyclical swings in discretionary consumer spending and component supply chain disruptions.
Capital allocation details in the registration filing also deserve a close look. Of the 50 million shares offered, existing stockholders are selling 36.5 million, providing venture backers with significant early liquidity. Out of the estimated $532.6 million in net primary proceeds raised at the midpoint, roughly $526.4 million is designated to cover tax withholding and remittance obligations tied to restricted stock unit settlements. That allocation leaves limited primary capital to fund external acquisitions or build cash reserves.
Investors should also track an active consumer class-action lawsuit disclosed in the regulatory paperwork. The litigation challenges the scientific precision and advertising claims about the accuracy of Oura's sleep-tracking technology. While patent strength remains solid, an unfavorable outcome in the case could create reputational headwinds or require adjustments to product marketing claims.
What to Watch as Oura Begins TradingOura's Nasdaq debut introduces a pure-play health intelligence business that integrates daily consumer habits with pharmaceutical adherence. With retail access available through brokerages like Robinhood Markets Inc. NASDAQ: HOOD, opening volume could see active retail participation alongside institutional anchors.
Investors reviewing the debut can monitor how final pricing settles within the $40 to $44 range and watch early price stability as underwriting syndicates balance supply. Cautious investors may prefer to wait for post-listing volatility to subside before establishing an equity position. Long-term investors can use upcoming quarterly earnings reports to confirm whether subscription momentum remains above 120% and gross margin remains near 55% as public market life begins.
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Key Takeaways DexCom's global revenues rose 13% to $1.31 billion, with U.S. and international growth supporting momentum.The CONNECT trial showed a 1.6% A1c improvement and could support broader Medicare CGM coverage.G7 15 Day adoption is improving margins, with nearly 50% of U.S. customers targeted for conversion by year-end DexCom, Inc. (DXCM - Free Report) is well positioned for growth in the coming quarters, supported by the significant potential of the continuous glucose monitoring (CGM) market. A strong first-quarter 2026 performance and a robust international foothold are expected to contribute further. Risks related to stiff competition persist.
This Zacks Rank #3 (Hold) company’s shares have gained 26.9% so far this year against the industry’s 10.8% decline. The S&P 500 Index has gained 11.4% in the same time frame.
DXCM, a renowned medical device company and provider of CGM systems, has a market capitalization of $31.33 billion. It projects a 22.6% growth rate over the next five years and anticipates maintaining a strong performance going forward.
DexCom’s earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 11.39%.
Image Source: Zacks Investment Research
Let’s delve deeper.
Positive DriversStrong Global Demand and Share Gains Support Durable Growth: Dexcom delivered a strong second quarter, with worldwide revenues rising 13% year over year to $1.31 billion and organic growth reaching 12%. U.S. revenues increased 11% to $933 million, supported by strong new-patient additions and share gains, while international revenues climbed 19% to $375 million, with organic growth of 16%.
Global new customer additions remained near the record level achieved in the first quarter, while new customers in the United States increased sequentially. Growth across Type 1, Type 2 intensive, basal and non-insulin populations suggests that momentum is not dependent on a single patient category, enhancing the durability of Dexcom’s near-term growth trajectory.
CONNECT Could Unlock a Substantially Larger Non-Insulin Type 2 Market: The CONNECT trial materially strengthens Dexcom's case for expanding CGM reimbursement among non-insulin Type 2 diabetes patients. The nearly 300-patient randomized study showed a 1.6% A1c improvement in the Dexcom group and a 0.9% advantage versus control, alongside more than five additional hours per day in normal glucose range and 97% median CGM utilization.
Commercial coverage already spans the four largest PBMs, representing more than 7 million non-insulin Type 2 patients. Dexcom has submitted the evidence to CMS and expects a coverage decision by year-end, with implementation targeted for mid-2027. Successful Medicare expansion could substantially enlarge the company's addressable market.
G7 15 Day Adoption Should Strengthen Product Differentiation and Margins: The G7 15 Day system is emerging as an important product-cycle catalyst, combining longer wear time, algorithm improvements and better customer experience. Dexcom said Net Promoter Scores have increased for three consecutive quarters, while integration with Tandem and Mobi now makes the system available to all adult G7 customers in the United States.
Management remains on track to convert nearly 50% of its U.S. customer base by year-end, with adoption expected to contribute increasingly in the second half and become more meaningful in 2027. The product transition is also improving the margins. The second-quarter gross margin expanded 400 basis points to 64.1%, aided by manufacturing efficiencies and the initial G7 15 Day mix shift.
RisksCMS Reimbursement Remains a Critical Execution and Timing Risk: A major portion of DexCom's longer-term growth thesis depends on expanding CGM coverage to the large non-insulin Type 2 population, but the business remains contingent on regulatory and reimbursement decisions. Management expects to hear from CMS on the coverage decision before year-end, while planning for implementation only around mid-2027. This creates a potentially lengthy period between evidence submission and revenue realization.
Moreover, commercial physician awareness still requires significant education because hundreds of thousands of prescribers must understand where reimbursement exists. Any restrictive CMS coverage criteria, implementation delays or slower physician adoption could postpone the expected acceleration in patient additions, leaving the company’s near-term growth more dependent on already-covered populations.
International Growth Faces Tougher Comparisons: International operations remain a major growth engine, but the second half carries greater execution risk. Second-quarter international organic revenue growth was an impressive 16%, supported by reimbursement gains in markets such as France and Canada. However, management acknowledged that year-over-year comparisons in the third and fourth quarters will become tougher because of significant access gains achieved during the second half of 2025.
Management cited the euro exchange rate as an important modeling factor and expects currency movements to negatively impact international revenues compared with previous guidance. Although the underlying market opportunity exceeds 60 million potential lives across key international markets, tender timing, reimbursement expansion and foreign-exchange volatility could make reported growth less consistent through the remainder of 2026.
Stelo and Nutrisense Have Limited Near-Term Revenue Impact: Dexcom's expansion into consumer metabolic health is strategically promising, but investors should distinguish platform development from immediate financial contribution. Management acknowledged that the incremental non-CGM revenue from Nutrisense is only in the low millions, with most existing revenue essentially representing Stelo CGM pass-through sales.
Therefore, the acquisition's primary rationale is technology, engagement and personalized nutrition insights rather than near-term revenue acceleration. Similarly, the redesigned Stelo app is intended to improve engagement and create a broader platform for future G-series functionality, but its commercial impact remains unproven. This means Dexcom must continue funding innovation while relying primarily on its core CGM business for growth until these newer initiatives achieve meaningful monetization.
Estimate TrendDexCom has witnessed a positive estimate revision trend for 2026. In the past 60 days, the Zacks Consensus Estimate for 2026 earnings per share has moved north 7 cents to $2.64.
The consensus mark for the company’s third-quarter revenues is pegged at $1.32 billion, indicating an 9.4% improvement from the year-ago quarter’s reported number. The consensus estimate for third-quarter earnings is pinned at 66 cents per share, implying an improvement of 8.2% year over year.
Stocks to ConsiderSome better-ranked stocks from the broader medical space are Veracyte (VCYT - Free Report) , Globus Medical (GMED - Free Report) and West Pharmaceutical (WST - Free Report) .
Veracyte, currently sporting a Zacks Rank #1 (Strong Buy), reported second-quarter 2026 adjusted earnings per share (EPS) of 54 cents, which surpassed the Zacks Consensus Estimate by 25.6%. Revenues of $150.3 million beat the Zacks Consensus Estimate by 4.1%. You can see the complete list of today’s Zacks #1 Rank stocks here.
VCYT has an estimated earnings growth rate of 8.4% for 2026. The company’s earnings beat estimates in each of the trailing four quarters, the average surprise being 41.8%.
Globus Medical, currently sporting a Zacks Rank #1, reported second-quarter 2026 adjusted EPS of $1.34, which surpassed the Zacks Consensus Estimate by 19.6%. Revenues of $789.6 million beat the Zacks Consensus Estimate by 0.4%.
GMED has an estimated long-term earnings growth rate of 12.4%. The company’s earnings beat estimates in each of the trailing four quarters, the average surprise being 27.9%.
West Pharmaceutical, carrying a Zacks Rank #2 (Buy) at present, reported second-quarter 2026 adjusted EPS of $2.37, which beat the Zacks Consensus Estimate by 13.9%. Revenues of $872.3 million surpassed the Zacks Consensus Estimate by 4.2%.
WST has an estimated long-term earnings growth rate of 16%. WST’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 17.4%.
SAN DIEGO--(BUSINESS WIRE)--DexCom, Inc. (NASDAQ:DXCM), the global leader in glucose biosensing, today announced the appointment of Glenn Boehnlein to its Board of Directors, effective September 10, 2026. Mr. Boehnlein is a highly accomplished healthcare executive and finance leader with more than 20 years of experience in the medical technology industry. Most recently, he served as Vice President and Chief Financial Officer of Stryker Corporation, one of the world's leading medical technology.
Larry Biegelsen - Wells Fargo Securities, LLC, Research Division
Presentation
Larry Biegelsen
Wells Fargo Securities, LLC, Research Division
Okay. All right. Welcome back to day 2 of the 2026 Wells Fargo Healthcare Conference. I'm Larry Biegelsen, the medtech analyst. And it's my pleasure to host this fireside chat with the management from DexCom. With us, we have Jereme Sylvain, the CFO; and Joe Deltorchio from Investor Relations. So it's a fireside chat. Jereme, thanks so much for being here.
Larry Biegelsen
Wells Fargo Securities, LLC, Research Division
So Jereme, let's start with everyone's favorite topic, type 2 non-insulin. You presented the CONNECT data at ADA, really good results. What's the status of the publication?
Yes. And thanks for bringing up Connect. So obviously, there'll be multiple different things we will file over the course of time with CONNECT. Obviously, we're doing follow-up studies as well. As you mentioned, great results, really, really happy with it. We expect it to be published in a major journal. One of the things you cannot do is say the timing or the name of the journal, if you want it to be published in there, but we are actively working on it. And so we'd expect it to be published here in a relatively short period.
Timing-wise, sometimes you have to kind of time it with the timing of the journal. So we are working closely there. But we would expect it to be in a major journal and
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Stock to Watch: DexCom (DXCM - Free Report) San Diego, CA-based DexCom, Inc. is a medical device company focused on the design, development and commercialization of continuous glucose monitoring systems (CGM). These are for ambulatory use by people with diabetes and by healthcare providers for the treatment of diabetic and non-diabetic patients.
DXCM is a #3 (Hold) on the Zacks Rank, with a VGM Score of B.
Additionally, the company could be a top pick for growth investors. DXCM has a Growth Style Score of A, forecasting year-over-year earnings growth of 26.3% for the current fiscal year.
For fiscal 2026, 11 analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.07 to $2.64 per share. DXCM boasts an average earnings surprise of +11.4%.
With a solid Zacks Rank and top-tier Growth and VGM Style Scores, DXCM should be on investors' short list.
SAN DIEGO--(BUSINESS WIRE)--DexCom, Inc. (NASDAQ:DXCM) today announced that management will present an update on the company at the Wells Fargo 21st Annual Healthcare Conference on Wednesday, September 9, 2026. The live presentation is scheduled to begin at approximately 8:00 AM EDT and will be concurrently webcast. Links to the webcast will be available on the Dexcom Investor Relations website at investors.dexcom.com and will be archived there for future reference. About DexCom, Inc. Dexcom em.
Key Takeaways Abbott offers greater price-target upside and a lower forward P/S valuation than DexCom. Abbott's CGM sales topped $2B in Q2 2026, while Libre Duo expands its glucose-ketone monitoring platform. DexCom grew Q2 revenues 13% to $1.31B as G7 15 Day expanded and the next-generation G8 advanced. Abbott Laboratories (ABT - Free Report) and DexCom (DXCM - Free Report) are two of the most prominent players in the continuous glucose monitoring (CGM) space. Abbott has continued to enhance its continuous monitoring portfolio through product upgrades, expanded indications and new tools aimed at improving diabetes management while extending glucose monitoring into broader health and wellness applications. Its offerings include FreeStyle Libre CGM and blood glucose monitoring products, related software and accessories, and the Lingo CGM system for health and wellness.
DexCom has developed CGM products, digital tools and connected technologies to support diabetes management and expand glucose monitoring into broader metabolic health applications. Its portfolio includes the Dexcom G7 and G7 15 Day CGM systems, Dexcom ONE+ and Stelo, along with data management, remote monitoring and connectivity solutions that integrate with compatible mobile devices and insulin-delivery systems.
Per a Grand View Research report, the global CGM devices market size was valued at $13.4 billion in 2025 and is projected to grow from $15.5 billion in 2026 to $41.4 billion by 2033, at a CAGR of 15.1% during the period.
In the past year, shares of DXCM have risen 19.9% while those of ABT have lost 11.5%.
Image Source: Zacks Investment Research
Abbott’s CGM Growth and InnovationIn the second quarter of 2026, CGM sales exceeded $2 billion, increasing 9.5%, while Abbott continued to expand the franchise through reimbursement initiatives and product innovation. Abbott is also extending its biosensing capabilities beyond glucose monitoring.
In May 2026, the company secured CE Mark for Libre Duo, its dual glucose-ketone biowearable sensor. The technology enables monitoring of both glucose and ketones through a single wearable sensor, broadening the utility of Abbott’s Libre platform and strengthening its innovation pipeline in diabetes management.
Abbott remains bullish on the long-term CGM opportunity, citing a potential addressable population of 75 million to 80 million people globally, compared with roughly 15 million current CGM users. It views broader reimbursement, particularly for non-insulin Type 2 diabetes, as a major catalyst for accelerating adoption and growth.
DexCom’s CGM Expansion and Next-Gen PlatformsDexCom delivered a solid second-quarter 2026 performance, with worldwide revenues increasing 13% year over year to $1.31 billion. The company continued the rollout of its G7 15 Day system, which is now available to all adult G7 users in the United States following Tandem and Mobi integration.
The company cited favorable feedback on the new algorithm, updated patch, extended wear time and customer experience. It is also advancing its next-generation G8 platform, which is expected to significantly improve accuracy and reliability while being roughly half the size of G7.
Dexcom's software ecosystem remains a driver of adoption by making CGM more intuitive, personalized and insightful. In parallel, the company is developing digital dosing tools, including Smart Basal and Smart Bolus, to simplify insulin titration and trend-based bolus decisions.
Short Term Price Target Favors ABT Over DXCMBased on short-term price targets offered by 26 analysts, the average price target for Abbott comes to $121.50. The average price target represents an increase of 4.17% from the last closing price.
Image Source: Zacks Investment Research
Based on short-term price targets offered by 26 analysts, the average price target for DexCom is $93.04. The average price target represents an increase of 0.76% from the last closing price.
Image Source: Zacks Investment Research
ABT and DXCM Maintain Solid Liquidity and Cash Flow ProfilesFrom a solvency perspective, Abbott ended the second quarter of 2026 with $5.10 billion in cash and cash equivalents and $499 million in short-term investments. Abbott generated $3.8 billion of operating cash flow during the first half of 2026, up $339 million year over year, supporting its ability to service debt and fund ongoing investments. Abbott also repurchased approximately 11.6 million shares for $1.0 billion during the first half, with $5.6 billion remaining under its repurchase authorization.
DexCom ended second-quarter 2026 with $1.11 billion of cash and cash equivalents and $842 million of short-term marketable securities, providing flexibility to fund capacity, R&D and go-to-market investments. The company generated $794.8 million of operating cash flow in the first half of 2026, up from $486.8 million in the prior-year period, while maintaining $1.24 billion of long-term senior convertible notes due 2028.
Valuation: ABT vs. DXCMAbbott currently trades at a forward one-year price-to-sales (P/S) of 3.81X, lower than its median. DexCom’s 6.11X P/S also sits above its median. Additionally, ABT trades at a discounted valuation than DXCM.
Image Source: Zacks Investment Research
End NoteAbbott and DexCom remain well-positioned to benefit from the expanding CGM market, supported by strong product portfolios, ongoing innovation and broader adoption of glucose-monitoring technologies. Both companies also maintain healthy liquidity and cash generation to support continued investment in R&D, manufacturing and commercialization.
Both ABT and DXCM presently carry a Zacks Rank #3 (Hold). Based on the price-target and valuation metrics, Abbott appears more favorable than DexCom at current levels. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
American Capital Management Inc. bought a new stake in DexCom, Inc. (NASDAQ:DXCM – Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 235,152 shares of the medical device company’s stock, valued at approximately $15,837,000. American Capital Management Inc. owned approximately 0.06% of DexCom at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in DXCM. Brighton Jones LLC lifted its holdings 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 worth $1,290,000 after purchasing an additional 11,946 shares during the period. Integrated Wealth Concepts LLC increased its stake in DexCom by 6.3% in the 1st quarter. Integrated Wealth Concepts LLC now owns 3,329 shares of the medical device company’s stock valued at $227,000 after buying an additional 196 shares during the period. Empowered Funds LLC raised its position in DexCom by 5.4% during the 1st quarter. Empowered Funds LLC now owns 8,446 shares of the medical device company’s stock worth $577,000 after buying an additional 436 shares during the last quarter. Focus Partners Wealth raised its position in DexCom by 13.2% during the 1st quarter. Focus Partners Wealth now owns 7,218 shares of the medical device company’s stock worth $493,000 after buying an additional 841 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its stake in shares of DexCom by 1.4% in the 2nd quarter. NewEdge Advisors LLC now owns 19,253 shares of the medical device company’s stock worth $1,681,000 after acquiring an additional 258 shares during the period. 97.75% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets In other news, EVP Michael Jon Brown sold 1,700 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $75.55, for a total transaction of $128,435.00. Following the completion of the transaction, the executive vice president directly owned 106,353 shares in the company, valued at approximately $8,034,969.15. This represents a 1.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jon Coleman sold 4,912 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $73.00, for a total transaction of $358,576.00. Following the transaction, the executive vice president directly owned 100,361 shares of the company’s stock, valued at approximately $7,326,353. This represents a 4.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 73,035 shares of company stock worth $5,446,673. 0.28% of the stock is owned by insiders.
Analyst Upgrades and Downgrades A number of research firms have recently weighed in on DXCM. Weiss Ratings raised shares of DexCom from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Bank of America decreased their price objective on shares of DexCom from $100.00 to $80.00 and set a “buy” rating on the stock in a report on Monday, May 18th. Royal Bank Of Canada upped their target price on shares of DexCom from $85.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Benchmark increased their target price on shares of DexCom from $77.00 to $82.00 and gave the company a “buy” rating in a report on Friday, July 31st. Finally, TD Cowen reiterated a “buy” rating on shares of DexCom in a research report on Friday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.71. Read Our Latest Report on DXCM
DexCom Trading Down 0.2% DXCM stock opened at $88.96 on Thursday. The company has a market cap of $33.57 billion, a price-to-earnings ratio of 35.16, a PEG ratio of 1.50 and a beta of 1.41. The company has a quick ratio of 1.43, a current ratio of 1.73 and a debt-to-equity ratio of 0.47. The business has a fifty day simple moving average of $78.50 and a 200-day simple moving average of $71.33. DexCom, Inc. has a 52 week low of $54.11 and a 52 week high of $92.59.
DexCom (NASDAQ:DXCM – Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The medical device company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.09. DexCom had a net margin of 20.12% and a return on equity of 35.94%. The company had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the previous year, the firm earned $0.48 earnings per share. DexCom’s revenue for the quarter was up 13.1% on a year-over-year basis. On average, equities research analysts expect that DexCom, Inc. will post 2.64 EPS for the current year.
DexCom Company Profile (Free Report)
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.
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Great Lakes Advisors LLC purchased a new position in shares of DexCom, Inc. (NASDAQ:DXCM – Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 5,472 shares of the medical device company’s stock, valued at approximately $369,000.
Other hedge funds also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB lifted its stake in DexCom by 15.4% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,147 shares of the medical device company’s stock worth $77,000 after purchasing an additional 153 shares during the last quarter. V Square Quantitative Management LLC boosted its position in shares of DexCom by 1.8% during the first quarter. V Square Quantitative Management LLC now owns 9,618 shares of the medical device company’s stock valued at $604,000 after buying an additional 172 shares during the period. Essex Financial Services Inc. grew its stake in shares of DexCom by 5.7% during the first quarter. Essex Financial Services Inc. now owns 3,256 shares of the medical device company’s stock valued at $204,000 after buying an additional 175 shares during the last quarter. Keel Point LLC grew its stake in shares of DexCom by 3.1% during the fourth quarter. Keel Point LLC now owns 6,473 shares of the medical device company’s stock valued at $430,000 after buying an additional 193 shares during the last quarter. Finally, Integrated Wealth Concepts LLC grew its stake in shares of DexCom by 6.3% during the first quarter. Integrated Wealth Concepts LLC now owns 3,329 shares of the medical device company’s stock valued at $227,000 after buying an additional 196 shares during the last quarter. 97.75% of the stock is currently owned by institutional investors.
DexCom Stock Performance Shares of NASDAQ:DXCM opened at $92.34 on Monday. The firm has a market cap of $34.85 billion, a PE ratio of 36.50, a price-to-earnings-growth ratio of 1.56 and a beta of 1.41. The firm’s 50 day simple moving average is $77.49 and its 200-day simple moving average is $70.93. DexCom, Inc. has a one year low of $54.11 and a one year high of $92.56. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.43 and a current ratio of 1.73.
DexCom (NASDAQ:DXCM – Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The medical device company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.09. DexCom had a return on equity of 35.94% and a net margin of 20.12%.The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the previous year, the business earned $0.48 earnings per share. DexCom’s quarterly revenue was up 13.1% on a year-over-year basis. As a group, equities analysts predict that DexCom, Inc. will post 2.64 EPS for the current year. Insider Transactions at DexCom In other DexCom news, EVP Michael Jon Brown sold 1,700 shares of DexCom stock in a transaction on Monday, June 15th. The stock was sold at an average price of $75.55, for a total transaction of $128,435.00. Following the completion of the sale, the executive vice president directly owned 106,353 shares of the company’s stock, valued at $8,034,969.15. The trade was a 1.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark G. Foletta sold 4,000 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $74.13, for a total value of $296,520.00. Following the completion of the sale, the director owned 52,852 shares of the company’s stock, valued at $3,917,918.76. This represents a 7.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 73,035 shares of company stock valued at $5,446,673. Company insiders own 0.28% of the company’s stock.
Analyst Upgrades and Downgrades A number of equities research analysts recently issued reports on DXCM shares. Benchmark raised their price target on DexCom from $77.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Barclays reaffirmed an “underweight” rating and issued a $64.00 price objective (down from $67.00) on shares of DexCom in a research report on Monday, May 18th. William Blair upgraded DexCom to a “strong-buy” rating in a research note on Friday, May 15th. UBS Group set a $96.00 target price on DexCom and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Finally, Sanford C. Bernstein set a $77.00 target price on DexCom in a research report on Friday, May 1st. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $88.71.
Check Out Our Latest Stock Report on DXCM
DexCom Company Profile (Free Report)
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.
Featured Stories Five stocks we like better than DexCom VIG, VYM, and VYMI: Which Vanguard Dividend ETF Is Right for You? 3 Closed-End Funds to Maximize Dividend Payments Rocket Lab’s Sell-Off Is Fading—Is It Finally Safe to Buy? $27 Billion in Buybacks: 3 Stocks Betting Their Strong Runs Aren’t Over Want to see what other hedge funds are holding DXCM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DexCom, Inc. (NASDAQ:DXCM – Free Report).
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How Style Scores Work with the Zacks Rank A proprietary stock-rating model, the Zacks Rank utilizes the power of earnings estimate revisions, or changes to a company's earnings outlook, to help investors create a successful portfolio.
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Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: DexCom (DXCM - Free Report) San Diego, CA-based DexCom, Inc. is a medical device company focused on the design, development and commercialization of continuous glucose monitoring systems (CGM). These are for ambulatory use by people with diabetes and by healthcare providers for the treatment of diabetic and non-diabetic patients.
DXCM is a #3 (Hold) on the Zacks Rank, with a VGM Score of B.
Momentum investors should take note of this Medical stock. DXCM has a Momentum Style Score of B, and shares are up 28% over the past four weeks.
10 analysts revised their earnings estimate higher in the last 60 days for fiscal 2026, while the Zacks Consensus Estimate has increased $0.06 to $2.64 per share. DXCM also boasts an average earnings surprise of +11.4%.
With a solid Zacks Rank and top-tier Momentum and VGM Style Scores, DXCM should be on investors' short list.
Dan Deming discusses why he sees sideways action in the stock market continuing through next week, noting anticipating for the Fed's Jackson Hole meeting. As for Thursday's Big 3, he sees an opportunity in Parker-Hannifin (PH) closing its stock gap, Dexcom (DXCM) maintaining recent upward momentum, and Union Pacific (UNP) becoming a leader in the railroad industry's comeback.
Aurora Investment Counsel bought a new stake in DexCom, Inc. (NASDAQ:DXCM – Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 34,744 shares of the medical device company’s stock, valued at approximately $2,340,000. DexCom comprises 1.2% of Aurora Investment Counsel’s investment portfolio, making the stock its 25th largest position.
A number of other hedge funds and other institutional investors have also bought and sold shares of DXCM. Reflection Asset Management acquired a new stake in DexCom during the 4th quarter valued at $25,000. Ascentis Independent Advisors acquired a new position in shares of DexCom in the first quarter valued at $25,000. MCF Advisors LLC acquired a new position in shares of DexCom in the fourth quarter valued at $32,000. Wellington Grp LLC raised its position in shares of DexCom by 778.7% in the first quarter. Wellington Grp LLC now owns 536 shares of the medical device company’s stock valued at $34,000 after purchasing an additional 475 shares during the period. Finally, DV Equities LLC bought a new position in shares of DexCom in the fourth quarter valued at about $36,000. Institutional investors own 97.75% of the company’s stock.
Analysts Set New Price Targets DXCM has been the subject of several research analyst reports. Bank of America reduced their target price on shares of DexCom from $100.00 to $80.00 and set a “buy” rating for the company in a report on Monday, May 18th. Raymond James Financial restated a “strong-buy” rating and set a $94.00 price objective on shares of DexCom in a research report on Friday, July 31st. Benchmark boosted their price objective on DexCom from $77.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Robert W. Baird set a $105.00 target price on DexCom in a research report on Friday, July 31st. Finally, Canaccord Genuity Group set a $90.00 target price on DexCom and gave the stock a “buy” rating in a research note on Monday, August 3rd. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $88.71.
Get Our Latest Research Report on DexCom DexCom Stock Up 0.3% DXCM stock opened at $89.88 on Thursday. DexCom, Inc. has a 52 week low of $54.11 and a 52 week high of $91.96. The business has a 50-day simple moving average of $76.85 and a 200 day simple moving average of $70.67. The company has a quick ratio of 1.43, a current ratio of 1.73 and a debt-to-equity ratio of 0.47. The company has a market cap of $33.92 billion, a PE ratio of 35.53, a price-to-earnings-growth ratio of 1.51 and a beta of 1.41.
DexCom (NASDAQ:DXCM – Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The medical device company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.09. DexCom had a net margin of 20.12% and a return on equity of 35.94%. The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the prior year, the company posted $0.48 earnings per share. The business’s revenue for the quarter was up 13.1% on a year-over-year basis. Sell-side analysts anticipate that DexCom, Inc. will post 2.64 EPS for the current fiscal year.
Insider Activity In other DexCom news, EVP Michael Jon Brown sold 1,700 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $75.55, for a total transaction of $128,435.00. Following the completion of the transaction, the executive vice president directly owned 106,353 shares in the company, valued at $8,034,969.15. The trade was a 1.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark G. Foletta sold 4,000 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $74.13, for a total value of $296,520.00. Following the sale, the director owned 52,852 shares of the company’s stock, valued at $3,917,918.76. The trade was a 7.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 73,035 shares of company stock valued at $5,446,673. 0.28% of the stock is owned by insiders.
About DexCom (Free Report)
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.
Further Reading Five stocks we like better than DexCom Bloom Energy’s AI Surge Meets a Valuation Reality Check Target Is Winning Shoppers Back—Can the Rally Reach $180? IonQ’s Space Contract Points to a New Frontier for Quantum Investors Is Apple’s AI Strategy Smarter Than Skeptics Think? Want to see what other hedge funds are holding DXCM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DexCom, Inc. (NASDAQ:DXCM – Free Report).
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The Style Scores are broken down into four categories:
Value ScoreValue investors love finding good stocks at good prices, especially before the broader market catches on to a stock's true value. Utilizing ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and many other multiples, the Value Style Score identifies the most attractive and most discounted stocks.
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VGM ScoreIf you want a combination of all three Style Scores, then the VGM Score will be your friend. It rates each stock on their combined weighted styles, helping you find the companies with the most attractive value, best growth forecast, and most promising momentum. It's also one of the best indicators to use with the Zacks Rank.
How Style Scores Work with the Zacks Rank A proprietary stock-rating model, the Zacks Rank utilizes the power of earnings estimate revisions, or changes to a company's earnings outlook, to help investors create a successful portfolio.
#1 (Strong Buy) stocks have produced an unmatched +23.94% average annual return since 1988, which is more than double the S&P 500's performance over the same time frame. However, the Zacks Rank examines a ton of stocks, and there can be more than 200 companies with a Strong Buy rank, and another 600 with a #2 (Buy) rank, on any given day.
With more than 800 top-rated stocks to choose from, it can certainly feel overwhelming to pick the ones that are right for you and your investing journey.
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Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: DexCom (DXCM - Free Report) San Diego, CA-based DexCom, Inc. is a medical device company focused on the design, development and commercialization of continuous glucose monitoring systems (CGM). These are for ambulatory use by people with diabetes and by healthcare providers for the treatment of diabetic and non-diabetic patients.
DXCM is a #3 (Hold) on the Zacks Rank, with a VGM Score of B.
Additionally, the company could be a top pick for growth investors. DXCM has a Growth Style Score of A, forecasting year-over-year earnings growth of 26.3% for the current fiscal year.
10 analysts revised their earnings estimate upwards in the last 60 days for fiscal 2026. The Zacks Consensus Estimate has increased $0.06 to $2.64 per share. DXCM boasts an average earnings surprise of +11.4%.
With a solid Zacks Rank and top-tier Growth and VGM Style Scores, DXCM should be on investors' short list.
Key Takeaways DexCom stock has gained 34.9% in 2026 as its growth profile and CGM opportunity improve.G7 15 Day, broader reimbursement and international expansion are widening DexCom's growth opportunities.DexCom faces intensifying competition from Abbott, MiniMed and Senseonics in the CGM market. DexCom (DXCM - Free Report) stock has rebounded sharply in 2026, gaining 34.8% after falling 14.7% in 2025, as investors increasingly recognize the company’s improving growth profile and expanding continuous glucose monitoring (CGM) opportunity. The company’s share price performance so far this year has outperformed the industry’s 6.9% decline and S&P 500 Index’s 13.1% gain.
The second-quarter performance reflected recovery, with revenues rising 13% year over year and organic growth reaching 12%. U.S. revenues increased 11%, while international revenues jumped 19%, reflecting broader reimbursement, market-share gains and stronger patient starts. DexCom is expanding beyond its traditional insulin-dependent customer base. New evidence supporting CGM use in non-insulin Type 2 diabetes, broader international access and new products such as G7 15 Day and Smart Basal could materially expand the addressable market through 2026 and beyond.
YTD Performance of DXCM vs Industry
Image Source: Zacks Investment Research
What Is Fueling DXCM’s Growth?Non-Insulin Type 2 Diabetes Could Expand the Addressable Market: DexCom’s CONNECT trial could become an important growth catalyst by strengthening the case for CGM among non-insulin Type 2 patients. The study produced a 1.6% A1c improvement over six months, while commercial coverage has expanded across the four largest U.S. PBMs, reaching more than 7 million eligible patients. Broader reimbursement could significantly accelerate adoption beyond DexCom’s traditional customer base.
G7 15 Day Is Strengthening Product Adoption: The G7 15 Day rollout is creating a meaningful product-cycle opportunity. DexCom expects nearly 50% of its U.S. customer base to transition to the system by year-end, supported by an improved algorithm, longer wear time and stronger customer satisfaction. G7 15 Day also received Health Canada clearance, opening another avenue for international expansion. The product transition contributed to a roughly 400-basis-point improvement in second-quarter gross margin.
International Expansion Provides Another Growth Lever: International markets are growing increasingly important to DexCom’s growth trajectory. International revenues increased 19% in the second quarter, with organic growth of 16%. France and Canada benefited from expanding reimbursement access. DexCom is also rolling out Flex, its 15-day sensor for select Type 2 basal and non-insulin markets. Continued reimbursement wins could help the company replicate the share gains achieved in recently opened markets.
DexCom Is Building a Broader Digital Diabetes Platform: DexCom is expanding beyond sensor hardware through software and digital-health capabilities. The redesigned Stelo app adds AI-driven insights and enhanced food logging, while Smart Basal has reduced the time needed to reach an optimal basal insulin dose to about three weeks in pilot practices. The company also acquired Nutrisense, a CGM-data nutrition platform, creating additional potential for personalized metabolic-health services.
A Glance at DXCM’s EstimatesThe Zacks Consensus Estimate for DXCM’s 2026 and 2027 earnings per share (EPS) implies year-over-year growth of 26.8% and 16.6%, respectively, to $2.64 and $3.08. In the past 60 days, the consensus mark for the company's 2026 EPS has improved 2.7%.
Revenues for 2026 are projected to grow 12.1% to $5.23 billion and another 11.6% to $5.83 billion in 2027.
Image Source: Zacks Investment Research
Competition Remains a Major VariableThe CGM market remains highly competitive, with Abbott (ABT - Free Report) , MiniMed (MMED - Free Report) and Senseonics (SENS - Free Report) pursuing distinct strategies. Abbott remains DexCom’s most formidable direct rival, with Diabetes Care CGM sales exceeding $2 billion in the second quarter, reflecting growth of 9.5%.
Abbott also received CE Mark clearance for Libre Duo, its glucose-ketone monitoring sensor. MiniMed is strengthening its ecosystem, with CGM revenues growing at a low-double-digit rate in fiscal 2026 and its attachment rate reaching 68% in the fiscal fourth quarter. Senseonics is also growing much faster from a smaller base, with second-quarter revenues increasing about 120% and U.S. revenue growing more than 150%, supported by Eversense 365 and its Eon Care network.
Compared with Abbott, MiniMed, and Senseonics, DexCom currently benefits from greater scale, 13% reported revenue growth, and strong international momentum. However, Abbott’s scale, MiniMed’s integrated pump-CGM ecosystem, and Senseonics’ differentiated long-duration sensor could heighten competitive pressures.
Risks and ChallengesThe second half of 2026 will not be without challenges. DexCom remains dependent on reimbursement expansion, particularly for non-insulin Type 2 diabetes, and regulatory or payer delays could slow the addressable-market opportunity. Competition from Abbott could intensify as Libre Duo expands, while MiniMed’s new products could strengthen its integrated pump-CGM proposition. Senseonics also presents a differentiated alternative in long-duration CGM. Execution around the G7 15 Day conversion, international launches and new digital-health initiatives will be critical.
Image Source: Zacks Investment Research
ConclusionDexCom’s 2026 rally appears to be supported by improving fundamentals rather than short-term momentum alone. Expanding reimbursement, G7 15 Day adoption, international growth and digital-health initiatives provide multiple avenues for sustained expansion. However, competitive intensity and reimbursement execution remain important variables. With a Zacks Rank #3 (Hold), the stock appears better suited to investors willing to balance its strong growth potential against valuation and execution risks. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Key Takeaways DexCom shares jumped 52.5% in three months, sharply outperforming key industry and market benchmarks.DexCom's Q2 revenues rose 13.1% as adjusted gross margin improved 400 basis points to 64.1%.DXCM's premium valuation, competition and litigation risk leave less room for execution shortfalls. DexCom, Inc. (DXCM - Free Report) shares have climbed 52.5% in the past three months, a sharp re-rating that raises the standard for further gains. The next leg depends less on momentum alone and more on whether earnings growth, margin expansion and new-market access can keep pace with higher expectations.
Recent results support the fundamental case, but the stock’s premium valuation leaves less room for disappointment. Investors now have to weigh improving execution against competition and litigation risk.
DXCM’s 52.5% Rally Outpaces Key BenchmarksDXCM’s three-month gain easily exceeds the 18.3% rise for the Zacks sub-industry, the Zacks Medical sector’s 10.4% advance and the S&P 500’s 2.4% increase. That relative strength shows investors have rewarded DexCom more aggressively than the broader market.
The outperformance also raises the hurdle. With a larger share-price gain already captured, future upside will likely require continued earnings delivery and progress on the company’s access and product initiatives rather than simple multiple expansion.
Image Source: Zacks Investment Research
DexCom’s Q2 Beat Supports the Fundamental CaseSecond-quarter 2026 revenues increased 13.1% year over year to $1.31 billion. Adjusted earnings were 70 cents per share, above the Zacks Consensus Estimate of 61 cents and up from 48 cents a year earlier.
Growth was broad-based geographically. U.S. revenues rose 11% to $933.4 million, while international revenues advanced 19% to $375 million. Coverage expansion and new-patient additions supported the U.S. business, while France and Canada were among markets benefiting from broader reimbursement.
DXCM’s Margin Gains Add Quality to the Growth StoryAdjusted gross margin reached 64.1%, up 400 basis points year over year. Adjusted operating margin improved 590 basis points to 25.1%, helped by manufacturing efficiencies, quality management and early benefits from the G7 15 Day transition.
The combination of double-digit revenue growth and wider margins makes the rally more defensible than one driven only by sales. DexCom also expects nearly 50% of its U.S. customer base to convert to G7 15 Day by year-end, while broader type 2 coverage remains a meaningful growth avenue.
DexCom’s Premium Valuation Raises the BarDXCM trades at 30.7X forward 12-month earnings, above 27.3X for the Zacks sub-industry, 21.2X for the Zacks Medical sector and 20.7X for the S&P 500. Earnings estimate revisions help support that premium, with 2026 and 2027 estimates up 2.7% and 1.2%, respectively, over the past 60 days.
Image Source: Zacks Investment Research
Competition remains a counterweight. Abbott (ABT - Free Report) continues to expand its Libre continuous glucose monitoring portfolio, including new clinical evidence in basal-insulin type 2 diabetes. MiniMed Group (MMED - Free Report) has also broadened its diabetes ecosystem through MiniMed systems and newer continuous glucose monitoring integrations. Those alternatives can intensify pricing, rebate and formulary pressure.
DXCM’s Signal Check Favors a Balanced FinishAfter a 33.7% run, DexCom still has measurable support from earnings growth, margin expansion, estimate revisions and product adoption. Yet the premium multiple means execution must remain consistent, while competitive pressure and ongoing litigation create downside risk.
DXCM currently carries a Zacks Rank #3 (Hold). Likewise, Abbott carries a Zacks Rank of 3, while MiniMed has a Zacks Rank #4 (Sell). That keeps the assessment centered on the available fundamentals: improving estimates and profitability on one side, and a richer valuation plus industry and legal risks on the other. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Key Takeaways DexCom raised 2026 revenue guidance and lifted its adjusted gross, operating and EBITDA margin outlooks.G7 15 Day helped lift Q2 adjusted gross margin to 64.1%, up 400 basis points year over year.DexCom faces FX pressure, Ireland manufacturing investment and G6 transition costs in the second half. DexCom, Inc. (DXCM - Free Report) raised its 2026 revenue and margin outlook after a stronger second quarter, shifting more attention toward profitability. The question is whether better gross margin and operating leverage can persist as organic growth improves.
The guidance increase is encouraging, but foreign exchange, manufacturing investment and product-transition costs still matter. Sustaining the margin step-up will require continued execution across products, geographies and channels.
DexCom’s Q2 Results Reset the 2026 BaselineDexCom reported second-quarter 2026 revenues of $1.31 billion, up 13.1% year over year, while adjusted earnings reached 70 cents per share. Adjusted operating income increased 48% to $328.3 million, with the adjusted operating margin expanding to 25.1%.
The operating backdrop was broad. U.S. revenues rose 11% to $933.4 million, while international revenues increased 19% to $375 million. International organic growth was 16%, supported by reimbursement expansion and adoption in markets including France and Canada.
DXCM’s Raised Margin Outlook Shows Better LeverageManagement now expects 2026 revenues of $5.18-$5.25 billion, up from the prior $5.16-$5.25 billion range. The updated outlook implies 11-13% annual growth and incorporates stronger organic growth expectations.
Profitability guidance moved higher as well. DexCom raised its adjusted gross margin forecast to about 64%, adjusted operating margin guidance to 23.5%-24% and adjusted EBITDA margin guidance to 31.5%-32%. Those revisions make operating leverage a larger part of the 2026 thesis rather than leaving the story dependent mainly on revenue growth.
DexCom’s G7 15 Day Rollout Supports ProfitabilityThe G7 15 Day transition is helping the margin profile through product mix and manufacturing efficiency. Second-quarter adjusted gross margin reached 64.1%, up 400 basis points year over year, as manufacturing efficiencies and the initial customer switchover to G7 15 Day supported results.
The rollout also broadens the product opportunity. DexCom expects to convert nearly half of its U.S. customer base to G7 15 Day by year-end 2026. Health Canada has cleared the system, while Dexcom Flex has launched in Germany, giving the company additional paths to extend 15-day sensor economics internationally.
DXCM’s FX and Execution Risks Could Offset ProgressThe higher outlook still carries offsets. DexCom expects a roughly $15 million foreign-exchange headwind to second-half 2026 international revenues. The company is also investing in its Ireland manufacturing facility, while the transition away from G6 brings inventory and execution costs that can complicate near-term efficiency gains.
Competition can further influence pricing, rebates and channel mix. Abbott Laboratories (ABT - Free Report) continues to expand its FreeStyle Libre continuous glucose monitoring franchise, including use in type 2 diabetes. Senseonics Holdings, Inc. (SENS - Free Report) markets the implantable Eversense 365 system, giving patients and payers another differentiated continuous glucose monitoring option.
DexCom’s Signal Check Keeps Expectations GroundedThe margin upgrades improve DXCM’s fundamental setup, and earnings estimates have moved higher. Over the past 60 days, estimates for 2026 and 2027 rose 2.7% and 1.2% to $2.65 and $3.08 per share, respectively. The stock, however, trades at 30.7X forward 12-month earnings, above 27.3X for the Zacks sub-industry, 21.2X for the Medical sector and 20.7X for the S&P 500.
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DXCM currently carries a Zacks Rank #3 (Hold). Likewise, Abbott and Senseonics carry a Zacks Rank of 3. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Raised guidance and improving estimates support the margin story, but the valuation premium, foreign-exchange pressure and execution demands keep the case balanced rather than decisively bullish.
Key Takeaways DexCom's U.S. CGM opportunity is expanding, with 7M newly covered lives and 9M covered nonusers.DXCM expects nearly half its U.S. customer base to convert to G7 15 Day by year-end 2026.DexCom's premium valuation, competition and litigation leave less room for execution misses. DexCom, Inc. (DXCM - Free Report) is entering the second half of 2026 with healthier margins, broader reimbursement and a larger continuous glucose monitoring opportunity. The investment question is whether that improving setup is enough to justify a premium valuation.
Growth catalysts remain visible across U.S. coverage, product upgrades and international expansion. Yet competition, litigation and a forward earnings multiple above key benchmarks leave less room for execution misses.
DXCM’s Growth Case Is Still BroadeningDexCom’s addressable market is widening beyond intensive insulin users. All four of the largest U.S. commercial pharmacy benefit managers now cover people with type 2 diabetes who are not using insulin, representing more than 7 million covered lives.
Penetration still has room to improve even before additional reimbursement wins. Roughly 9 million people in the United States already have continuous glucose monitoring coverage but are not using the technology, giving DXCM a sizable pool of potential new users.
DexCom’s Valuation Leaves Less Room for ErrorThat runway is not cheap. DXCM trades at a forward 12-month price-to-earnings ratio of 30.68, above 27.25 for the Zacks sub-industry, 21.15 for the Medical sector and 20.66 for the S&P 500.
The premium raises the hurdle for future results. Revenue growth, estimate revisions and margin expansion can support a higher multiple, but investors are already paying for a meaningful portion of that progress. Any slowdown in patient additions, reimbursement or operating leverage could pressure the valuation.
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DXCM’s Coverage and Product Catalysts MatterProduct execution strengthens the growth argument. DexCom is rolling out G7 15 Day and expects to convert nearly half of its U.S. customer base to the system by year-end 2026. Health Canada has cleared G7 15 Day, while Dexcom Flex has launched in Germany for selected type 2 populations.
Clinical evidence could broaden the runway further. In the CONNECT trial, DexCom CGM users with type 2 diabetes not using insulin posted a 1.6% A1c improvement, spent more than five additional hours per day in range and recorded 97% median CGM use. DexCom has submitted the data to CMS in support of expanded non-insulin coverage.
DexCom’s Competition and Litigation Temper UpsideThe category remains crowded. Abbott Laboratories (ABT - Free Report) competes through its FreeStyle Libre continuous glucose monitoring franchise. MiniMed Group (MMED - Free Report) , the recently divested business of Medtronic, also offers continuous glucose monitoring and integrated diabetes technologies, while Senseonics Holdings, Inc. (SENS - Free Report) markets the implantable Eversense 365 system.
More viable alternatives can give payers leverage in negotiations over pricing, rebates and formulary placement. DexCom also faces ongoing patent disputes plus securities, derivative and product-related class actions. These issues may add legal expense and execution uncertainty even if underlying demand remains healthy.
DXCM’s Signal Mix Supports PatienceThe balance of evidence favors patience over an aggressive entry. Earnings estimates for 2026 and 2027 have moved up 2.7% and 1.2% over the past 60 days to $2.65 and $3.08, respectively. Second-quarter adjusted gross margin reached 64.1% and adjusted operating margin improved to 25.1%.
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DXCM currently carries a Zacks Rank #3 (Hold). Likewise, Abbott and Senseonics carry a Zacks Rank of 3, while MiniMed has a Zacks Rank #4 (Sell). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
With estimates rising and margins improving, the fundamental direction is constructive. The premium valuation, competitive pressure and litigation risk still argue for waiting for either a better price or further proof that growth can sustain the current multiple.
From a technical perspective, DexCom (DXCM - Free Report) is looking like an interesting pick, as it just reached a key level of support. DXCM recently overtook the 20-day moving average, and this suggests a short-term bullish trend.
The 20-day simple moving average is a well-liked trading tool because it provides a look back at a stock's price over a 20-day period. Additionally, short-term traders find this SMA very beneficial, as it smooths out short-term price trends and shows more trend reversal signals than longer-term moving averages.
The 20-day moving average can show signals that are similar to other SMAs as well. If a stock's price is moving above the 20-day, the trend is considered positive. When the price falls below the moving average, it can signal a downward trend.
DXCM could be on the verge of another rally after moving 17.1% higher over the last four weeks. Plus, the company is currently a Zacks Rank #2 (Buy) stock.
Looking at DXCM's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 5 revisions higher for the current fiscal year compared to none lower, and the consensus estimate has moved up as well.
With a winning combination of earnings estimate revisions and hitting a key technical level, investors should keep their eye on DXCM for more gains in the near future.
Shares of DexCom (DXCM - Free Report) have been strong performers lately, with the stock up 17.1% over the past month. The stock hit a new 52-week high of $84.7 in the previous session. DexCom has gained 25.7% since the start of the year compared to the 0.1% gain for the Zacks Medical sector and the -11.7% return for the Zacks Medical - Instruments industry.
What's Driving the Outperformance?The stock has a great record of positive earnings surprises, having beaten the Zacks Consensus Estimate in each of the last four quarters. In its last earnings report on July 30, 2026, DexCom reported EPS of $0.7 versus consensus estimate of $0.61 while it beat the consensus revenue estimate by 1.01%.
For the current fiscal year, DexCom is expected to post earnings of $2.6 per share on $5.22 in revenues. This represents a 24.4% change in EPS on a 11.96% change in revenues. For the next fiscal year, the company is expected to earn $3.06 per share on $5.84 in revenues. This represents a year-over-year change of 17.72% and 11.85%, respectively.
Valuation MetricsWhile DexCom has moved to its 52-week high over the past few weeks, investors need to be asking, what is next for the company? A key aspect of this question is taking a look at valuation metrics in order to determine if the company has run ahead of itself.
On this front, we can look at the Zacks Style Scores, as these give investors a variety of ways to comb through stocks (beyond looking at the Zacks Rank of a security). These styles are represented by grades running from A to F in the categories of Value, Growth, and Momentum, while there is a combined VGM Score as well. Investors should consider the style scores a valuable tool that can help you to pick the most appropriate Zacks Rank stocks based on their individual investment style.
DexCom has a Value Score of C. The stock's Growth and Momentum Scores are A and B, respectively, giving the company a VGM Score of B.
In terms of its value breakdown, the stock currently trades at 32.1X current fiscal year EPS estimates, which is a premium to the peer industry average of 25.2X. On a trailing cash flow basis, the stock currently trades at 30.1X versus its peer group's average of 14.7X. Additionally, the stock has a PEG ratio of 1.36. This isn't enough to put the company in the top echelon of all stocks we cover from a value perspective.
Zacks RankWe also need to consider the stock's Zacks Rank, as this is even more important than the company's VGM Score. Fortunately, DexCom currently has a Zacks Rank of #2 (Buy) thanks to rising earnings estimates.
Since we recommend that investors select stocks carrying Zacks Rank of 1 (Strong Buy) or 2 (Buy) and Style Scores of A or B, it looks as if DexCom meets the list of requirements. Thus, it seems as though DexCom shares could still be poised for more gains ahead.
Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
Key Takeaways DXCM's Q2 EPS rose to 70 cents as revenues climbed 13.1% to $1.31 billion, beating estimates.International revenues grew 19%, outpacing U.S. growth on reimbursement expansion and stronger adoption.DXCM raised 2026 revenue and margin guidance after adjusted gross margin expanded 400 basis points. DexCom, Inc. (DXCM - Free Report) reported second-quarter 2026 adjusted earnings per share (EPS) of 70 cents, which beat the Zacks Consensus Estimate of 61 cents by 14.8%. The company reported adjusted EPS of 48 cents per share in the prior-year quarter.
Revenues increased 13.1% year over year to $1.31 billion and surpassed the consensus mark of $1.30 billion by 1.01%.
DXCM registered GAAP net income per share of 64 cents, up from the year-ago quarter’s figure of 45 cents.
Following better-than-expected results and raised guidance, shares of DXCM have risen 8.3% in today’s pre-market trading. The stock has gained 12.3% in the year-to-date period against an 11.7% decline in the industry. The broader S&P 500 Index increased 6.6% in the same period.
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DXCM's U.S. Business Delivers Solid GrowthU.S. revenues totaled $933.4 million, up 11% from the year-ago quarter. Growth was supported by strong new-patient additions, share capture and a sequential increase in new customer starts.
Management noted that demand remained broad-based across patient categories. Dexcom also highlighted a substantial untapped opportunity, with roughly 9 million people in the United States already covered for continuous glucose monitoring but not yet using the technology.
Dexcom's International Revenues Outpace U.S. GrowthInternational revenues increased 19% year over year to $375 million. On an organic basis, international sales advanced 16%, benefiting from reimbursement expansion and stronger adoption in markets such as France and Canada.
The company also broadened its overseas product portfolio with the launch of Dexcom Flex in Germany. The 15-day sensor targets basal-insulin users and people with type 2 diabetes not using insulin in selected markets.
Margin Analysis of DXCMAdjusted gross profit totaled $838.5 million, up 20.6% from the prior-year quarter’s level. DexCom reported an adjusted gross margin (as a percentage of revenues) of 64.1%, up 400 basis points year over year.
Research and development expenses totaled $153 million, up 3.2% year over year. Selling, general and administrative expenses totaled $358.7 million, up 9.4% from the year-ago quarter.
The company reported adjusted operating income of $328.3 million, up 48% from the prior-year period’s level. Adjusted operating margin (as a percentage of revenues) was 25.1%, up 590 basis points year over year.
Financial Position of DexcomDXCM exited the second quarter with cash, cash equivalents and marketable securities worth $1.95 billion compared with $2.42 billion in the first quarter of 2026.
Cumulative cash provided by operating activities at the end of the second quarter of 2026 was $794.8 million compared with $486.8 million a year ago.
The company repurchased approximately $600 million of shares during the quarter under its $1 billion 2026 authorization and completed the acquisition of Nutrisense.
DXCM Raises 2026 Revenue and Margin OutlookDXCM now expects 2026 revenues of $5.18-$5.25 billion compared with the previous range of $5.16-$5.25 billion. The updated guidance implies annual growth of 11-13% and reflects stronger organic growth expectations, partly offset by an anticipated $15 million foreign-exchange headwind in the second half.
The company raised its adjusted gross margin forecast to approximately 64% from 63-64%. It also increased adjusted operating margin guidance to 23.5-24% from 23-23.5% and adjusted EBITDA margin guidance to 31.5-32% from 31-31.5%.
Wrapping UpDexCom exited the second quarter of 2026 on a strong note, supported by solid revenue growth, continued margin expansion and sustained momentum across its CGM portfolio. The company advanced the rollout of the G7 15 Day system, which is now available to all adult G7 customers in the United States following integration for Tandem pump users, including Mobi. DexCom expects to convert nearly half of its U.S. customer base to the extended-wear system by the end of 2026.
The company also achieved an important international milestone as Health Canada cleared G7 15 Day, marking the product’s first regulatory approval outside the United States. DexCom plans to launch the system in Canada during the second half of 2026 and expand it into additional international markets over time, supporting broader access and adoption.
DexCom further strengthened its clinical positioning through the CONNECT randomized trial for people with type 2 diabetes not using insulin. Participants using DexCom CGM achieved a 1.6-percentage-point A1C improvement, spent more than five additional hours per day in the target glucose range and recorded median device usage of 97% over 26 weeks. Looking ahead, the company remains focused on expanding access, advancing product innovation and sustaining long-term growth across global CGM markets.
DXCM’s Zacks Rank & Other Stocks to ConsiderDXCM currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the broader medical space are McKesson (MCK - Free Report) , Phibro Animal Health (PAHC - Free Report) andCardinal Health (CAH - Free Report) .
McKesson carries a Zacks Rank #2 at present and has an estimated long-term growth rate of 13.7%. MCK’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 3.09%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
McKesson’s shares have gained 8.8% against the industry’s 12.7% decline in the year-to-date period.
Phibro Animal Health, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 21.5%. PAHC’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 16.25%.
Phibro Animal Health stock has climbed 44.2% against the industry’s 17.1% decline in the year-to-date period.
Cardinal Health, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 17%. CAH’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 10.27%.
Cardinal Health’s shares have lost 2.6% compared with the industry’s 3.1% decline in the year-to-date period.
Revenue: Worldwide revenue of $1.31 billion, up 13% reported and 12% organic year-over-year.US Revenue: $933 million, up 11% year-over-year.International Revenu
DexCom, Inc. (DXCM) Q2 2026 Earnings Call July 30, 2026 4:30 PM EDT
Company Participants
Sean Christensen - Vice President of Finance and Investor Relations
Jacob Leach - President, CEO & Director
Jereme Sylvain - Executive VP, CFO & Chief Accounting Officer
Conference Call Participants
Travis Steed - BofA Securities, Research Division
Robert Marcus - JPMorgan Chase & Co, Research Division
Matthew Taylor - Jefferies LLC, Research Division
Gursimran Kaur - Wells Fargo Securities, LLC, Research Division
Anna Runci - Piper Sandler & Co., Research Division
Colin Clark - TD Cowen, Research Division
Jayson Bedford - Raymond James & Associates, Inc., Research Division
Marie Thibault - BTIG, LLC, Research Division
Jeffrey Johnson - Robert W. Baird & Co. Incorporated, Research Division
Joanne Wuensch - Citigroup Inc., Research Division
Anthony Petrone - Mizuho Securities USA LLC, Research Division
Michael Polark - Wolfe Research, LLC
Jonathan Block - Stifel, Nicolaus & Company, Incorporated, Research Division
Issie Kirby - Rothschild & Co Redburn, Research Division
Richard Newitter - Truist Securities, Inc., Research Division
Presentation
Operator
Ladies and gentlemen, welcome to the Dexcom Second Quarter 2026 Earnings Release Conference Call. My name is Abby, and I will be your operator for today's call. [Operator Instructions] As a reminder, the conference is being recorded.
I will now turn the call over to Sean Christensen, Senior Vice President of Finance and Investor Relations. Mr. Christensen, you may begin.
Sean Christensen
Vice President of Finance and Investor Relations
Thank you, operator, and welcome to Dexcom's Second Quarter 2026 Earnings Call. Our agenda begins with Jake Leach, Dexcom's President and CEO, who will summarize our recent highlights and ongoing strategic initiatives, followed by a financial review and outlook from Jereme Sylvain, our Chief Financial Officer.
Following our prepared remarks, we will open the call up for your questions. At that time, we ask analysts to limit themselves to one question each so we can provide
3 Non-Pharma Firms That Could Benefit From the GLP-1 TrendDexCom NASDAQ: DXCM reported second-quarter 2026 revenue growth of 13% from a year earlier, supported by continued demand for continuous glucose monitoring systems, expanding reimbursement access and share gains across several patient groups and markets.
Worldwide revenue totaled $1.31 billion, compared with $1.16 billion in the second quarter of 2025. Organic revenue, which excludes foreign exchange effects and certain acquired or divested non-CGM revenue, increased 12%.
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3 Stocks Doing the Heavy Lifting in Healthcare’s ReboundU.S. revenue rose 11% to $933 million, while international revenue increased 19% to $375 million, or 16% on an organic basis. Chief Financial Officer Jereme Sylvain said markets with recently expanded reimbursement access, including France and Canada, were among the strongest international contributors.
Growth Driven by Patient Starts, Access and Product Rollouts President and CEO Jake Leach said global new-customer starts remained near the previous quarter’s record level, with a sequential increase in U.S. new starts. He said growth was broad-based across patient segments and supported by additional coverage and market-share gains.
Sell in May and Go Away—Starting With These 3 StocksLeach pointed to what he described as a sizable remaining U.S. opportunity, saying roughly 9 million people have CGM coverage but are not yet using the technology. The company has also been focused on expanding coverage for people with Type 2 diabetes who do not use insulin.
Dexcom said all people with diabetes are now covered across the four largest commercial pharmacy benefit managers, representing reimbursement for more than 7 million U.S. patients with Type 2 diabetes not using insulin. The company’s longer-term goal is to obtain broad coverage for an estimated 25 million U.S. Type 2 diabetes patients not using insulin.
During the quarter, Dexcom continued rolling out its G7 15-day system. Following availability of integration for Tandem pump users, including Mobi users, the product is now accessible to all adult G7 customers in the U.S., according to Leach. Dexcom remains on track to convert nearly 50% of its U.S. customer base to G7 15-day by the end of 2026.
Health Canada became the first international regulator to clear the G7 15-day system. Dexcom expects to bring the product to Canada during the second half of 2026 and pursue launches in other international markets as approvals are obtained.
The company also launched Dexcom Flex, a 15-day sensor intended for Type 2 basal-insulin and non-insulin markets in selected geographies, in Germany.
CONNECT Study Supports Non-Insulin Coverage Case Leach highlighted results from Dexcom’s CONNECT randomized controlled trial, which enrolled nearly 300 people with Type 2 diabetes not using insulin across 22 U.S. primary-care sites. Over six months, the CGM group recorded a 1.6% improvement in A1C, equating to a 0.9% difference compared with the control group, he said.
The CGM group also spent more than five additional hours per day within normal glucose range versus the control group. Median CGM usage was 97% over the 26-week study, according to the company.
Dexcom has submitted the CONNECT data to the Centers for Medicare & Medicaid Services in support of expanded non-insulin coverage. Leach said the company expects a CMS decision before the end of 2026 and continues to model implementation around the middle of 2027. He said there was no change to that timing assumption.
Dexcom also cited a real-world evidence study conducted with CVS Health that found a 66% reduction in diabetes-related hospitalizations and nearly a 50% reduction in microvascular complications over three years after CGM initiation among non-insulin Type 2 customers.
The company was selected as the first participant in the FDA’s TEMPO Digital Device Pilot. Leach said the program could allow Dexcom to more rapidly develop and introduce digital technology related to glucose health and screening for prediabetes, though he said it is not directly tied to the broader CMS coverage decision for Type 2 non-insulin patients.
Margins Improve as Company Raises Outlook Second-quarter gross profit was $838.5 million, or 64.1% of revenue, up from 60.1% a year earlier. Sylvain said the roughly 400-basis-point improvement reflected manufacturing efficiencies, quality-management improvements and the initial customer conversion to G7 15-day.
Operating income reached $328.3 million, or 25.1% of revenue, compared with $221.8 million, or 19.2% of revenue, in the prior-year quarter. Adjusted EBITDA was $421.3 million, or 32.2% of revenue, versus $327.6 million, or 28.3% a year earlier.
Net income was $269.1 million, or $0.70 per share, representing 46% growth from the second quarter of 2025. Dexcom ended the quarter with approximately $1.9 billion in cash and cash equivalents and generated more than $600 million of free cash flow in the first half of 2026, more than double the prior-year period.
The company repurchased approximately $600 million of stock during the second quarter as part of its previously announced $1 billion 2026 share-repurchase authorization.
Full-year revenue guidance: $5.18 billion to $5.25 billion, representing 11% to 13% growth. Full-year non-GAAP gross margin guidance: approximately 64%. Full-year non-GAAP operating margin guidance: 23.5% to 24%. Full-year adjusted EBITDA margin guidance: 31.5% to 32%. Sylvain said the updated revenue outlook reflects stronger organic-growth expectations, partially offset by foreign exchange movement expected to reduce second-half international revenue by about $15 million relative to the company’s prior guidance.
Nutrisense Acquisition and Next-Generation Pipeline Dexcom completed its acquisition of Nutrisense during the quarter. Nutrisense offers a platform that uses CGM data to provide nutrition-focused insights and coaching. Executives said much of Nutrisense’s existing revenue was CGM pass-through revenue already included in Dexcom’s business, while incremental non-CGM revenue was immaterial to the company’s full-year outlook.
Dexcom also introduced a redesigned Stelo app featuring a consumer-oriented interface, artificial-intelligence-driven insights and expanded food-logging capabilities. Leach said the platform is expected to serve as the foundation for future app development, including functionality for G7 users.
Looking further ahead, the company said its G8 sensor development timeline remains intact. Leach said Dexcom expects the glucose version to launch in late 2027 or early 2028, depending on regulatory timing, with a smaller form factor and planned improvements in accuracy and reliability. He added that G8 is designed as a multi-analyte platform that could later support sensing for ketones, potassium and other analytes.
About DexCom (NASDAQ:DXCM)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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
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The offices of Dexcom in San Diego, California, U.S., June 30, 2026. REUTERS/Mike Blake Purchase Licensing Rights, opens new tab
CompaniesJuly 30 (Reuters) - Medical device maker Dexcom (DXCM.O), opens new tab raised its full-year revenue forecast and beat quarterly estimates on Thursday, banking on sustained demand for its continuous glucose monitors that track blood sugar levels, sending shares of the company up over 4% in extended trading.
Here are the details:
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Rising awareness of diabetes care, improved insurance coverage and a wider consumer shift towards finger-prick-free technology have boosted demand for continuous glucose monitors, intensifying competition among market leaders Dexcom, Medtronic (MDT.N), opens new tab and Abbott Laboratories (ABT.N), opens new tab.
Dexcom reported second-quarter revenue of $1.31 billion, up 13% over a year earlier. Analysts on average had estimated $1.29 billion, according to data compiled by LSEG.
It posted quarterly adjusted profit of 70 cents per share, compared with the estimate of 61 cents.
The company expects annual revenue to be between $5.18 billion and $5.25 billion, compared with $5.16 billion to $5.25 billion forecast earlier, and analysts' estimate of $5.22 billion.
Dexcom said in May it would appoint two independent directors and revamp a key board committee in collaboration with activist investor Elliott Investment Management.
Reporting by Padmanabhan Ananthan in Bengaluru; Editing by Shilpi Majumdar
Our Standards: The Thomson Reuters Trust Principles., opens new tab
DexCom (DXCM - Free Report) came out with quarterly earnings of $0.7 per share, beating the Zacks Consensus Estimate of $0.61 per share. This compares to earnings of $0.48 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +14.75%. A quarter ago, it was expected that this medical device company would post earnings of $0.47 per share when it actually produced earnings of $0.56, delivering a surprise of +19.15%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
DexCom, which belongs to the Zacks Medical - Instruments industry, posted revenues of $1.31 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 1.01%. This compares to year-ago revenues of $1.16 billion. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
DexCom shares have added about 13.2% since the beginning of the year versus the S&P 500's gain of 6.9%.
What's Next for DexCom?While DexCom has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for DexCom was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.67 on $1.35 billion in revenues for the coming quarter and $2.57 on $5.22 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Medical - Instruments is currently in the bottom 38% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the same industry, Teleflex (TFX - Free Report) , is yet to report results for the quarter ended June 2026. The results are expected to be released on August 6.
This medical equipment maker is expected to post quarterly earnings of $1.28 per share in its upcoming report, which represents a year-over-year change of -65.7%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Teleflex's revenues are expected to be $559.76 million, down 28.3% from the year-ago quarter.
The first GLP-1 medicine was approved in the U.S. in 2005 for the treatment of type 2 diabetes. Since then, breakthroughs have occurred in the field. Medicines in this class are now indicated for chronic weight management, obstructive sleep apnea, metabolic dysfunction-associated steatohepatitis, and other conditions. Analysts predict that the market for GLP-1 drugs will expand rapidly over the next decade, and several companies could capitalize on it. Let's consider three corporations whose businesses may benefit from the GLP-1 boom to invest in today: Novo Nordisk (NVO +1.22%), Becton, Dickinson and Company (BDX +1.24%), and Dexcom (DXCM +0.39%).
Image source: The Motley Fool.
1. Novo Nordisk Novo Nordisk has been a pioneer in the GLP-1 market. The company's Ozempic and Wegovy -- two GLP-1 medicines -- have become household names. However, the Denmark-based pharmaceutical giant has lost significant market share to its main competitor in this niche, Eli Lilly (LLY -0.87%). That said, Novo Nordisk can still capitalize on the GLP-1 boom over the medium term. In January, Novo Nordisk launched oral Wegovy, the first GLP-1 pill approved for weight loss, and it has been a smashing success. This is a niche of the industry where Novo Nordisk is even beating Eli Lilly. Novo Nordisk also has several products in the pipeline that could gain approval within a few years, helping cement its market position.
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The list includes Amycretin, a dual GLP-1 and amylin agonist. Amycretin has shown highly promising results in early stage studies for weight loss and diabetes, and it could prove even more effective than Wegovy in phase 3 clinical trials. Beyond its core therapeutic area, Novo Nordisk is gradually building a stronger business elsewhere, especially in rare blood diseases. The company has achieved significant clinical wins in this field. Over the next few years, Novo Nordisk could bounce back from the issues it has faced and deliver solid returns, largely thanks to its work in the GLP-1 space.
2. Becton, Dickinson The past five years have been rough for Becton, Dickinson, a medical device specialist. Slow revenue and earnings growth have led to terrible stock market performances for the company. However, Becton, Dickinson is slowly turning things around, and its exposure to the GLP-1 market may help. Becton, Dickinson is a leading manufacturer of self-injection systems (such as prefillable syringes) that patients use to take GLP-1 medicines. As demand for these drugs continues to expand, Becton, Dickinson is also seeing growing sales from that side of its business. Earlier this year, the company announced long-term deals with major pharmaceutical companies for two next-gen GLP-1 programs, which highlights that it has a runway for growth that extends years into the future.
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Becton, Dickinson is investing more to ensure it can tap into this opportunity. In January, it announced a $110 million investment to expand its manufacturing capacity. The company is well-positioned to ride this tailwind, and there are other reasons to buy the stock, especially the dividend. Becton, Dickinson is a Dividend King, a corporation with 50 (or more) years of consecutive dividend increases. The GLP-1 opportunity should help boost sales growth, and Becton, Dickinson's dividend program is likely to remain intact over the long run.
3. Dexcom Dexcom is a major player in the continuous glucose monitoring (CGM) market, helping patients with diabetes track their blood sugar in real time. According to some data, patients on GLP-1s and CGMs can achieve better outcomes -- such as improvements in blood sugar levels -- compared to those using GLP-1s alone. This could lead to higher demand for Dexcom's CGM devices and strengthen the company's competitive advantage. Dexcom's devices, including its G series of CGM systems, are compatible with a range of other devices indicated for diabetes patients, including insulin pens and pumps, among others. The more patients use its CGM systems, the more valuable its ecosystem becomes.
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Dexcom has attractive opportunities ahead. As the company argues, over nine million patients in the U.S. have reimbursement for CGM but have yet to switch to these devices. Meanwhile, the company had a worldwide installed base of 3.5 million as of 2025. Further, the company has expanded its market by launching Stelo. This over-the-counter product can be used even by patients who aren't diabetic. Over the long run, the company should enter new territories and launch newer, better devices, as it has in the past. Dexcom has faced challenges in recent years as sales growth has declined, but its outlook over the next few years appears attractive. Soaring demand for GLP-1 products may help it rebound from recent woes through the associated increased prescriptions for its CGM devices.
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, /PRNewswire/ -- Halper Sadeh LLC, an investor rights law firm, is investigating whether certain officers and directors of DexCom, Inc. (NASDAQ: DXCM) breached their fiduciary duties to shareholders.
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Dimensional Fund Advisors LP boosted its stake in DexCom, Inc. (NASDAQ:DXCM – Free Report) by 1.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,895,549 shares of the medical device company’s stock after purchasing an additional 23,844 shares during the quarter. Dimensional Fund Advisors LP owned about 0.49% of DexCom worth $119,017,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DXCM. Norges Bank acquired a new position in DexCom during the fourth quarter worth about $483,356,000. AQR Capital Management LLC lifted its holdings in DexCom by 597.8% during the 4th quarter. AQR Capital Management LLC now owns 3,102,789 shares of the medical device company’s stock worth $205,932,000 after buying an additional 2,658,158 shares during the period. Employees Provident Fund Board acquired a new position in shares of DexCom in the fourth quarter worth approximately $145,352,000. J. Stern & Co. LLP lifted its holdings in DexCom by 2,114.8% in the fourth quarter. J. Stern & Co. LLP now owns 1,601,973 shares of the medical device company’s stock valued at $106,323,000 after buying an additional 1,529,641 shares during the period. Finally, SG Americas Securities LLC lifted its stake in shares of DexCom by 271.4% in the 1st quarter. SG Americas Securities LLC now owns 2,065,277 shares of the medical device company’s stock valued at $129,699,000 after purchasing an additional 1,509,219 shares during the period. 97.75% of the stock is currently owned by institutional investors.
DexCom Trading Up 2.0% Shares of DXCM stock opened at $74.85 on Wednesday. The company has a market capitalization of $28.88 billion, a PE ratio of 31.99, a price-to-earnings-growth ratio of 1.21 and a beta of 1.45. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.64 and a current ratio of 1.95. The business’s fifty day moving average is $72.79 and its 200 day moving average is $69.01. DexCom, Inc. has a 52-week low of $54.11 and a 52-week high of $89.98.
DexCom (NASDAQ:DXCM – Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The medical device company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.47 by $0.09. DexCom had a return on equity of 33.33% and a net margin of 19.31%.The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the previous year, the firm earned $0.32 earnings per share. DexCom’s revenue was up 15.0% on a year-over-year basis. On average, equities research analysts anticipate that DexCom, Inc. will post 2.57 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth A number of research analysts recently issued reports on DXCM shares. Mizuho boosted their target price on shares of DexCom from $85.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, July 15th. Citigroup reiterated a “buy” rating and set a $84.00 price target (up from $79.00) on shares of DexCom in a report on Thursday, May 28th. Wall Street Zen lowered shares of DexCom from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 10th. Sanford C. Bernstein set a $77.00 target price on DexCom in a research report on Friday, May 1st. Finally, Barclays restated an “underweight” rating and set a $64.00 price target (down from $67.00) on shares of DexCom in a research note on Monday, May 18th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $85.40.
View Our Latest Report on DXCM
Insider Transactions at DexCom In other DexCom news, Director Mark G. Foletta sold 4,000 shares of DexCom stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $74.13, for a total value of $296,520.00. Following the transaction, the director directly owned 52,852 shares of the company’s stock, valued at $3,917,918.76. The trade was a 7.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Jon Brown sold 1,700 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $75.55, for a total value of $128,435.00. Following the transaction, the executive vice president owned 106,353 shares of the company’s stock, valued at approximately $8,034,969.15. This represents a 1.57% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 98,506 shares of company stock worth $7,205,258. Company insiders own 0.28% of the company’s stock.
About DexCom (Free Report)
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.
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Stock to Watch: DexCom (DXCM - Free Report) San Diego, CA-based DexCom, Inc. is a medical device company focused on the design, development and commercialization of continuous glucose monitoring systems (CGM). These are for ambulatory use by people with diabetes and by healthcare providers for the treatment of diabetic and non-diabetic patients.
DXCM is a #2 (Buy) on the Zacks Rank, with a VGM Score of A.
Additionally, the company could be a top pick for growth investors. DXCM has a Growth Style Score of A, forecasting year-over-year earnings growth of 23% for the current fiscal year.
For fiscal 2026, two analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.00 to $2.57 per share. DXCM boasts an average earnings surprise of +9.4%.
With a solid Zacks Rank and top-tier Growth and VGM Style Scores, DXCM should be on investors' short list.
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Investor litigation firm [url="]Kaskela Law[/url] announces that it is investigating DexCom, Inc. (Nasdaq: DXCM) on behalf of the company's long-term investors
