DXCM
DEXCOM INCEvidence as of 2026-10-16The desk's Snapshot
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Overview · DEXCOM INC
DexCom, Inc., a medical device company, focuses on the design, development, and commercialization of continuous glucose monitoring (CGM) systems in the United States and internationally. The company provides its systems for use by people with diabetes, as well as for use by healthcare providers. Its products include Dexcom G6 and Dexcom G7, integrated CGM systems for diabetes management; Dexcom Share, a remote monito…
Management team
- Mr. Steven R. Pacelli · Executive VP & MD of Dexcom VenturesFind on LinkedIn
- Ms. Sadie M. Stern · Executive VP & Chief Human Resources OfficerFind on LinkedIn
- Mr. Matthew Dolan · Executive Vice President of Strategy, Corporate Development & Dexcom LabsFind on LinkedIn
- Mr. Sean Christensen · Director of Corporate Affairs & Head of Investor RelationsFind on LinkedIn
Start free to see the full management team.
Links open LinkedIn searches, not verified profiles. Team data from our market-data vendor's company profile.
Moneyta sentiment
Where the published evidence leans after the desk debated it, not a rating or a recommendation.
−0.4 on a −2 to +2 scale.
What builds the score
Solid bars are analyst rubric scores; faded bars are computed directly from data. Claims dropped in debate count for nothing; weakened claims count at half weight.
Editor's note
Written after the debate settled. The rest of the page is the evidence behind it.
The surviving record is mixed (evidence balance: Mixed, -0.4 of a possible +2; confidence high). Reported revenue rose sequentially from $ 1,157,100,000 in the fiscal quarter ended 2025-07-23 (Q2 2025) to $ 1,191,900,000 in the fiscal quarter ended 2026-04-23 (Q1 2026) and to $ 1,308,400,000 in the fiscal quarter ended 2026-07-23 (Q2 2026). Gross profit and gross margin expanded over recent quarters — gross profit reached $ 830,000,000 in Q2 2026 with an implied margin of about 63.4% versus $ 731,400,000 (≈ 60.5%) in Q3 2025 and $ 750,300,000 (≈ 62.9%) in Q1 2026 — and operating income rose from $ 242,500,000 (Q3 2025) to $ 318,300,000 (Q2 2026).
Net income shows a mixed pattern, falling from $ 283,800,000 (Q3 2025) to $ 199,500,000 (Q1 2026) before rising to $ 249,100,000 (Q2 2026). Reported common shares outstanding fell from about 390,016,272 (23 October 2025) to 377,360,765 (23 July 2026), while cash and cash equivalents declined from $ 1,835,700,000 (30 September 2025) to $ 1,105,000,000 (30 June 2026). Filings document an FDA warning letter from March 2025, prior G7 manufacturing and inventory challenges, a $ 750,000,000 repurchase authorization, and a disclosure that roughly 28% of revenue for the twelve months ended 2025-12-31 came from outside the U.S.
How this note was made
every stage ran before the note was writtenAnalyst desk
Mercer, Oakes, Nash, Ellis, Yates, Talbot and Archer. The desk: named AI agents, not people. Each reads one slice of the evidence and nothing else (no outside knowledge, no browsing), so every finding traces to a source you can open.
Reads the XBRL figures companies file with the SEC (revenue, margins, income, debt and share count, quarter by quarter) and reports which way the trend is running.
Revenue was $1,157,100,000 for the fiscal quarter ended 30 June 2025, $1,191,900,000 for the fiscal quarter ended 31 March 2026, and $1,308,400,000 for the fiscal quarter ended 30 June 2026, showing sequential higher reported quarterly revenue across those periods.
XBRL companyfacts · 0001093557-26-000143Gross profit was $731,400,000 for the fiscal quarter ended 30 September 2025, $750,300,000 for the fiscal quarter ended 31 March 2026, and $830,000,000 for the fiscal quarter ended 30 June 2026; expressed as gross margins these correspond to about 60.5% (1,209,300,000 revenue), 62.9% (1,191,900,000 revenue), and 63.4% (1,308,400,000 revenue) respectively, indicating expanding gross margin over these quarters.
XBRL companyfacts · 0001093557-25-000280Reads the filings themselves, above all the year-over-year diff of Item 1A risk factors: which risks a company added, dropped or quietly reworded since its last annual report.
Which filings the desk reads
The desk reads the annual 10-K in full: its risk factors, and how they changed since last year. Quarterly 10-Qs and event filings (8-Ks, insider Form 4s) are listed for context but not read line by line: the 10-K is where the material risk disclosures live. A brand-new company, or one we have only just begun tracking, may have no annual report on file yet; its risk analysis fills in once that lands.
The 2026 Annual Report on Form 10-K (filed 12 February 2026) added or expanded risk discussion around U.S. health policy changes, including a new reference to the July 4, 2025 budget reconciliation bill ("One Big Beautiful Bill Act") and CBO estimates that certain Medicaid provisions could reduce Medicaid spending by $1 trillion and increase the number of uninsured by at least 11.8 million by 2034.
Item 1A risk-factor diff · 0001093557-26-000027 vs 0001093557-25-000036The 2026 Form 10-K (filed 12 February 2026) discloses that the company received an FDA warning letter following inspections of facilities in San Diego, California and Mesa, Arizona in March 2025, and states the company cannot assure the FDA will be satisfied with its corrective actions or when the matters will be resolved.
Item 1A risk-factor diff · 0001093557-26-000027 vs 0001093557-25-000036Reads the signal panel above (momentum, volatility, drawdown, relative strength and beta) and ranks each against the whole research universe rather than judging it in isolation.
DXCM's 6-month price momentum is +43.2% and ranks in the 92th percentile of the 882-stock research universe as of 2026-10-15.
Moneyta signal set · 2026-10-15weakened in debateDXCM's 12-month minus 1-month momentum (momentum_12_1) is +15.6% and sits in the 60th percentile of the 882-stock research universe as of 2026-10-15.
Moneyta signal set · 2026-10-15weakened in debateReads which funds hold the name and at what weight, plus insider Form 4 filings, to show the exposure you may already carry through index funds.
Institutional holders reported aggregate holdings valued at $25.84B as of 2026-06-30, with 979 reporting holders and 112 exited positions that quarter.
13F holdings · 979 filers · as of 2026-06-30BlackRock, Inc. was the largest reported institutional holder at $2.58B as of 2026-06-30; other large reported holders included VANGUARD CAPITAL MANAGEMENT LLC at $1.70B, VANGUARD PORTFOLIO MANAGEMENT LLC at $1.32B, STATE STREET CORP at $1.24B, and Invesco Ltd. at $1.03B.
13F holdings · 979 filers · as of 2026-06-30Reads recent headlines that are genuinely about this company, ignoring rating chatter and market-wide stories. Findings argue in the debate but never move the sentiment score.
Results from the CONNECT randomized controlled trial were published in The New England Journal of Medicine and were presented by the company as providing rigorous evidence for its G7 continuous glucose monitor in Type 2 diabetes patients not using insulin.
News · finance.yahoo.com · 2026-10-14Multiple outlets flagged the NEJM publication and related attention for the company, with a news piece noting the NEJM spotlight and another outlet carrying the company announcement.
News · simplywall.st · 2026-10-15Reads parsed Forms 3/4/5: who bought or sold, at what size, and whether a 10b5-1 plan was involved. Flags clustered open-market officer buying; treats plan sales as routine and never counts a fund or 10%-holder as an officer.
The parsed insider transactions show aggregate insider selling of "$8.7M" and no reported insider buys in the 180-day window.
Form 4 · SAYER KEVIN R (Executive Chair) · $2.0M sold · 2026-07-20There are "0" distinct buyers recorded in the parsed transactions and the dataset lists "net_shares": "-107237" for the window.
Form 4 · SAYER KEVIN R (Executive Chair) · $2.0M sold · 2026-07-20Reads the implied-expectations math built from the company's own filings (the growth rate today's price would justify, and the multiples beside it) and argues whether the market's bar looks high or low for this business. Never turns the math into a target.
The market-implied free cash flow (FCF) growth rate that today's price would justify, under the valuation assumptions used, is 29.37% (0.2937).
Valuation inputs · SEC XBRL + stored EOD closePrice-to-free-cash-flow (P/FCF, trailing twelve months) is 43.93.
Valuation inputs · SEC XBRL + stored EOD closeDebate and risk review
A bull and a bear contest the claims and the chair rules on each; the risk review stress-tests what survived.
A bull and a bear argue the analysts' claims across two rounds, then a chair rules on each one. Only what survives feeds the score. The argument is shown, not hidden, so you can judge the reasoning yourself.
The evidence set shows multiple company-level operating improvements that support a favorable read: sequential quarterly revenue increases (fundamentals-0) accompanied by expanding gross margins (fundamentals-1) and rising operating income and operating margin (fundamentals-2). Share count has meaningfully declined over the disclosed interval (fundamentals-4), and a robust TTM free cash flow figure alongside >$1.1B of cash on the balance sheet (valuation-4) strengthens the operational cash-generation narrative. Clinical and market signals — a NEJM publication for the CONNECT trial and related media attention (news-0, news-1), plus positive technical and momentum metrics including a strong 6-month price return and a sustained golden-cross technical (market-0, market-2) — provide corroborating market and scientific validation. Institutional ownership is substantial and concentrated among major asset managers (ownership-0, ownership-1), and multiple sell-side initiations/maintains with buy-rated coverage in the street consensus add context to market interest (third-party consensus). Given these points, the positive claims jointly offer moderate-strength, company-specific evidence that operating performance, product validation, and market positioning have improved over the documented periods.
Chair's verdict, claim by claim
Fragility · computed, not argued
balanced0.32
40 surviving claims rest on 19 distinct sources; the heaviest analyst carries 18% of them, and 98% of what the desk raised survived the debate.
The read rests on a moderate breadth of sources but a relatively small pool of distinct documents, so individual source errors (e.g., a misfiled Form 10‑Q) could shift multiple claims at once. The largest analyst contributor carrying 18% of surviving claims is not dominating, but the very high survival rate from the desk debate (98%) suggests limited skeptical pruning — treat the ensemble as informative but not highly stress‑tested.
Peer context · computed, not argued
12-1 momentum ranks 3rd of 8 in Medical Devices (as of 2026-10-15).
90-day volatility ranks 3rd of 8 in Medical Devices (as of 2026-10-15).
dividend yield ranks 3rd of 8 in Medical Devices (as of 2026-10-15).
Disconfirming evidence · base rates · falsifiers
Context
Outside consensus, and where this name already sits in your own portfolio.
Third-party consensus shown for context. It never enters Moneyta sentiment. When the two diverge, the debate above is where the why lives.
What this was built from
Every figure on this page traces to one of these. The desk reads only what is listed here (no outside knowledge, no browsing), and each card shows who read it and what it contributed to the score.
9 filings· 3 cited
SEC XBRL filings
Quarterly figures as filed with the SEC, read straight from EDGAR's structured data, not retyped or estimated.
Read by Mercer+0.5 to the score
13 documents· 2 cited
SEC filing documents
The filings themselves, including the year-over-year comparison of Item 1A risk factors.
Read by Oakes−0.8 to the score
1 signal set
Moneyta signal set
Computed from our own end-of-day price history and ranked against the whole research universe. No AI involved.
Read by Nash+0.3 to the score
3 holdings records· 1 cited
Fund holdings
Which funds hold this name and at what weight, plus insider Form 4 filings.
Read by Ellis+0.5 to the score
8 headlines· 2 cited
News coverage
Recent headlines about this company, rating chatter excluded and nothing published after the report date.
Read by Yatesnothing survived
16 filings· 1 cited
Insider filings
Parsed Forms 3/4/5 from EDGAR: named insiders, share counts, prices, and 10b5-1 plan state, with stated and inferred flags kept apart.
Read by Talbot−0.8 to the score
1 computation
Valuation inputs
TTM cash-flow figures from the company's own XBRL filings, priced with the stored closing price. Implied growth and multiples only; no fair-value dollar figure reaches the desk, by design.
Read by Archercontext only
1 record· 0 cited
Company profile
Sector, industry and company details.
1 record· 0 cited
Analyst consensus
Third-party consensus, shown for context only; it never enters Moneyta sentiment.
Read means we pulled and handed it to an analyst; cited means a claim on this page points at it. Reading twelve quarters to state one trend is normal; the gap is shown rather than hidden.
Written by AI, checked against sources
The analysts, the bull–bear debate and the editor's note are AI agents reading only the evidence listed on this page. They can misread a filing or a headline, which is why every claim cites a source you can open and check yourself. The sentiment score is arithmetic over the claims that survived the debate, not a language model's opinion.
Educational analysis of published data. Moneyta does not give investment advice or make recommendations. Past patterns do not indicate future results.
The full terminal on DXCM Gold
Who holds it, who's buying, what the Street thinks: live behind the lock, updated as filings land.
Institutional holders
Net institutional flow, Q/Q
Largest holder position
Insider buys, 90 days
Clustered insider value
Street target range
The real figures are for members. Educational analysis, not advice.
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