DXCM - DexCom's ADA Conference Takeaways: Stelo CGM Tailwinds Still Intact

2024-07-03 11:27:26 ET

Summary

• DexCom presented outlook on diabetes market at the ADA Conference, highlighting potential for growth with new products like Stelo and DexCom ONE.
• DexCom's strategy differs from Abbott Labs, focusing on OTC CGM products like Stelo to expand target market and drive sales.
• Despite slight downgrade in outlook for FY24, DexCom's stock positioned for robust sales ramp in second half of the year, with potential for +20% upside.

Investment thesis

At the recently concluded diabetes conference held by the ADA (American Diabetes Association) last week, many market players such as DexCom (DXCM), Tandem Diabetes (TNDM), and DexCom’s direct competitor, Abbott Labs (ABT), presented their outlook on the diabetes market, their vision for what their individual strategies would be to help diabetes patients, and the next line of products that would be made available to patients....

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