DexCom, Inc. (DXCM)

DexCom's stock price has been influenced by several events. On July 26, 2024, the stock declined significantly after the company missed its second-quarter revenue estimates and lowered its full-year forecast due to execution issues, sales force disruption, channel mix, and rebates. On March 4, 2025, DexCom received an FDA warning letter citing deficiencies in manufacturing processes and quality management systems. On September 18, 2025, the stock fell after Hunterbrook Media published a short report, followed by a larger drop on September 19, 2025, due to a short-seller report from Hunterbrook Capital alleging issues with the G7 device. UBS maintained a Buy rating on September 22, 2025, while Baird adjusted its price target downward on September 26, 2025. Canaccord Genuity reaffirmed its Buy rating on September 29, 2025. DexCom showcased next-generation CGM features at the EASD 2025 conference on October 1, 2025, and announced its third-quarter 2025 earnings release for October 30, 2025. As of October 3, 2025, the share price was $67.05.

While DexCom's revenue has shown consistent year-over-year growth, there is no explicit, predictable seasonal pattern in demand for its products driven by external market factors. Internal operational changes, such as sales team reorganization and lower revenue per user, have influenced quarterly performance. The recurring nature of sensor sales contributes to a steady revenue stream.

DexCom, Inc. specializes in continuous glucose monitoring (CGM) systems for diabetes management, operating within the medical device sector. Its core business revolves around CGM systems, including the Dexcom G6 and G7, which provide real-time glucose readings, eliminating the need for fingerstick tests. The company also offers the Dexcom Share remote monitoring system, Dexcom Real-Time API, Dexcom ONE CGM system, and the Stelo Glucose Biosensor. Complementary software solutions like Dexcom Clarity provide cloud-based platforms for tracking glucose trends and generating reports, while mobile applications enable users to monitor glucose levels, set alerts, and share data.

Headquartered in San Diego, California, DexCom maintains an international presence with a research and development center in San Diego. Manufacturing facilities are located in Mesa, Arizona; Batu Kawan, Malaysia; and Athenry, County Galway, Ireland. The company directly distributes its products in the United States, Austria, Canada, Germany, Switzerland, and the United Kingdom, and reaches other countries through a network of distributors.

DexCom generally maintains a strong brand reputation for its technological leadership and innovation in CGM technology. However, the FDA issued a warning letter in March 2025 citing manufacturing and quality management deficiencies. In September 2025, a short-seller report from Hunterbrook Capital alleged issues with the Dexcom G7 device, raising questions about accounting practices and noting an executive exodus, which could negatively affect public perception and trust.

DexCom, Inc. has significant institutional ownership, with 93.65% of shares held by institutional shareholders, 4.58% by insiders, and 1.77% by retail investors. Major institutional owners include Vanguard Group Inc, BlackRock, Inc., and State Street Corp. Vanguard Group Inc is the largest individual shareholder, holding 12.32% of the company.