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Is DexCom a Winning Diabetes Stock to Buy?

Stock MarketsJul 14, 2021 01:01PM ET
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© Reuters. Is DexCom a Winning Diabetes Stock to Buy?

Continuous glucose monitoring (CGM) device maker DexCom (DXCM) has made key advancements in diabetes management technology to tap growing diabetes market opportunities. However, despite having a first-mover advantage in the fast-growing CGM market, the company faces increasing competition from other key players. So, will DXCM be able to maintain its market position and continue attracting investor interest? Let’s find out.San Diego, Calif.-based medical device company DexCom, Inc. (DXCM) develops and distributes continuous glucose monitoring (CGM) systems for diabetes management in the United States and internationally. DXCM’s first-ever Super Bowl advertisement to drive awareness of its Dexcom (NASDAQ:DXCM) CGM technology among patients, and the recent coverage expansion of its Dexcom G6 CGM System, have attracted investors’ attention, as evidenced by the stock’s 11.5% gain over the past month.

Indeed, the stock has gained 20.7% year-to-date to close yesterday’s trading session at $446.39.

But while DXCM is a dominant player in the CGM market, it faces stiff competition from other key players that are making significant headway in the continuous glucose monitoring space. And, although the company reported better-than-expected first quarter results, the stock’s stretched valuation could make investors nervous.

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Is DexCom a Winning Diabetes Stock to Buy?
 

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