2024-05-13 13:30:15 ET
Summary
- Dexcom is a buy despite a recent slowdown in US sales. The upcoming launch of Stelo, a glucose monitor for non-insulin users, has a large potential market and is expected.
- Ex-US growth remains strong at 26%, and conservative management guidance suggests confidence in future performance. Historically, Dexcom has exceeded revenue guidance.
- Lower than expected adoption of Stelo and challenges in the Japan sales model transition are potential risks.
Investment action
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Dexcom: Positive Catalysts Ahead To Support Growth