DXCM - Could DexCom Stock Help You Become a Millionaire?
Diabetes company DexCom (NASDAQ: DXCM) has been an incredible investment over the past decade. Its 2,500% returns during that time have dwarfed the S&P 500 and its 177% gains. And despite those impressive results, DexCom is still growing and likely will continue to expand for years as diabetes becomes more prevalent in society.
The only downside is the stock itself isn't cheap, trading at more than 186 times its trailing profits. Is DexCom's stock too expensive, or is this an investment that still has enough runway left to potentially help you become a millionaire?
DexCom makes continuous glucose monitoring (CGM) devices that help people with diabetes stay on top of their glucose levels. It's a more convenient way of managing diabetes, as it doesn't involve the use of finger-sticks. Currently, the company is in the midst of rolling out its newest CGM, the G7. It promises to have more accuracy than the G6 version, and it's also 60% smaller (it's roughly the size of three stacked quarters). That will give users more flexibility in deciding where to insert it.
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Could DexCom Stock Help You Become a Millionaire?