Raising Our FVE for Dexcom on More Optimistic Profitability Projections, but Still No Moat
Dexcom finished out the year with slightly stronger growth in sensors and transmitters than we’d projected, but the firm’s progress toward profitability was consistent with our expectations and we’re leaving our fair value estimate unchanged. Management’s outlook for $1.175 billion to $1.225 billion in revenue this year struck us as conservative. We think Dexcom is likely to exceed this range and have projected 2019 revenue at $1.262 billion, with volume more than offsetting lower price. Nonethe...DexCom is a medical device company primarily focused on the design, development and commercialization of continuous glucose monitoring systems for use by people with diabetes and by healthcare providers. The company's products include: DecCom G6?, which allows the company's transmitter to run an algorithm to generate a glucose value and to communicate to a patient's mobile device; DexCom G4? PLATINUM, which is used to adjust therapy and to educate and motivate patients to modify their behavior after viewing the effects that specific foods, exercise, stress and medications have on their glucose levels; and DexCom Share?, which transmits glucose information to the mobile devices of designated recipients.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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