DEXCOM, INC.
In the published model solve dated 2026-Q2, anchored at $91.00, DEXCOM, INC. (DXCM) is priced for today's economics sustained for ~5.3 years. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed July 25, 2026 from SEC EDGAR filings.
• Most of the revenue never touches a Dexcom invoice to a patient: roughly 85% moves through distributors, with the direct remainder booked at net realizable value ⟦"using estimates of claim denials and historical reimbursement experience"⟧. • The price embeds a long runway rather than a high rate: about 33 times company-wide operating profit, which needs growth near the fastest pace the business could fund from its own cash held for roughly eight years, a persistence only about 27% of comparabl
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929 institutional managers reported holding DXCM in 13F filings for the quarter ended 2026-03-31. Together they hold about 91% of the company; the top 10 hold 46%. 127 opened new positions that quarter. Held by Vanguard Group, BlackRock, State Street, among others. On the short side, 17.0M shares were sold short as of the 2026-06-15 count, about 4% of shares outstanding (3.2 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
DXCM's share count is about flat over the past five years ($2.50B of repurchases, offset by issuance). It pays no dividend. Cash returned over the past three years: $1.75B in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at DXCM over the trailing three years: 2025: 2 buys totaling $1.00M. 19 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
DXCM's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-07-28 | +1.3% | -29.5% |
| 2023-10-27 | +5.9% | +39.0% |
| 2024-02-09 | -4.8% | +13.0% |
| 2024-04-26 | -9.8% | -8.8% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
DXCM's latest 8-K filings: 2026-07-30 (items 2.02, 9.01); 2026-05-28 (items 5.07); 2026-05-15 (items 7.01, 8.01); 2026-04-30 (items 2.02, 9.01); 2026-03-02 (items 5.02, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: July 25, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.