DexCom, Inc.


SKU: DXCM Category:


This is our first report on medical device major, DexCom. The company reported an outstanding quarter with organic revenue growth of 20% compared to the third quarter of 2021 and managed an all-around beat. The management observed continued momentum in the US with continuous endocrinologist loyalty and expanding traction with primary care providers. As these doctors become more aware of the clinical advantages s that DexCom CGM can offer their patients, the management should focus on one-to-one interactions with their employees. Although DexCom anticipates that these primary care connections will be crucial to its long-term consumer goals, they also enable the company to serve the nation’s extensive insulin users. They anticipate that the vast majority of people will use CGM to help them better manage their health, giving the domestic core market a significant amount of room to develop. During the quarter, they initiated their full OUS launch of G7 following a successful limited launch. In addition, DexCom carried out its previously disclosed accelerated share repurchase program, buying roughly 550 million outstanding shares. Overall, we initiate coverage on the stock of DexCom, Inc. with a ‘Hold’ rating.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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