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The Screen · Healthcare · Medical Devices
DXCMDexcom
DXCM · a US exchange · USD · Market cap $31.1B · 11,000 employees
DexCom, Inc., a medical device company, focuses on the design, development, and commercialization of continuous glucose monitoring (CGM) systems for the management of diabetes and metabolic health in the United States an…
Positioning no disclosures inside 60 days, left as found
Options put/call open interest 0.22, read 2026-11-05
Ethical passes the values gate
Price84.46 USD
Fair value81.96
Ethical score75.9/100
Value readFairas of 5 Nov 2026
Our investment reviews on this name
2026-11-05Read Accumulation88.48-4.5% to today Markdown gives way to Accumulation
2026-10-22Read Markdown86.04-1.8% to today ✓Accumulation gives way to Markdown first Markdown read since October
2026-10-11Read Accumulation86.68-2.6% to today Markdown gives way to Accumulation
2026-10-02Read Markdown86.68-2.6% to today ✓Markup gives way to Markdown after a 19% rise in 13 weeks
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Dexcom holds its Markup at $84.46. Consolidating, no directional conviction, held for 44 days.
As held on the ledger · 2026-11-05
Phase
Markup
Quantitative state
Consolidating, no directional conviction, held for 44 days
Price at the screen
$84.46
Valuation
32.65 trailing · 26.27 forward price to earnings
Values screen
PASS· score 75.9
Beta
1.48
The Workings
Five Screens, Shown in Full
Full pass across all five screens. This security clears the Titan Ethical Standard: its business and its balance sheet both stay inside the lines.
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
21.92%
Below 33%
Interest-bearing debt is just 21.9% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
3.44%
Below 33%
Cash held in interest-bearing accounts and securities is 3.4% of assets, under the one-third limit.
Pass
Receivables
33.66%
Below 49%
Money owed to the company is 33.7% of assets, under the 49% limit.
Pass
Revenue purity
2.42%
Below 5%
Only 2.4% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Clears, in Plain English
Dexcom clears all five screens. Its business is in a permissible area, its interest-bearing debt is about 22%, inside the ~33% line, and interest is about 2% of its income, under the ~5% line, so it passes.
Read as at 2026-11-05. It updates when the underlying figures move, and past reads are kept below.
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What the Numbers Say It Is Worth
The Fair Value Range
Our analysis reads Fair vs our fair value, as of 5 Nov 2026: it trades above our $81.96 fair value estimate, moderate competitive moat, 13.10% revenue growth.
Fair value range in USD, drawn from the 2026-11-05 screen. The gold marker is the market price at the same screen. The price runs 3.1% above the base estimate.
Third-party analyst targets: 26 covering, consensus Strong Buy. The average target sits +12% from the screen price.
Reading the gap · Our more conservative model reads it as roughly fairly valued here, while the Street is more bullish: a quality-at-a-fair-price name rather than a deep-value one.
Where our models see it going: fair-value estimate $81.96, with a range of $71.10 to $94.25, dated to the 2026-11-05 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Glucose monitors track steady growth at full price
Anyone managing diabetes knows the relief of a sensor that removes constant finger pricks. Dexcom supplies that with its G7 systems and delivers revenue growth of 15 percent alongside a 19 percent profit margin and 36 percent return on equity. The business passes our ethical screen and holds a moderate moat in continuous glucose monitoring.
Yet the shares sit at our fair value of 76.35 dollars with zero margin of safety. Forward earnings sit at 24.9 times, which matches the growth on offer but offers no cushion if adoption slows.
Analysts cluster around an 85 dollar target, yet that optimism assumes the current pace continues without fresh competition or reimbursement pressure. The setup leaves little room for disappointment.
Another profit measure, before interest, tax and non-cash costs: EBITDA.
The risks · The things to watch: it already moves more than the market on an average day.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
DXCM trades on a US exchange. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The framework has shifted from markdown to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 12.5% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 5% above its long-term trend line with momentum reading bearish. Over the past year the shares are down 11%. Our forward projection puts the odds of a 10% gain over the next month near 23%. The street (25 analysts) rates it strong buy, with a mean price target of $82.
2026-10-29Markdown$78.62-8.6%Entry 16
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 8.6% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 5% above its long-term trend line with momentum reading bearish. Over the past year the shares are down 11%. Our forward projection puts the odds of a 10% gain over the next month near 23%. The street (25 analysts) rates it strong buy, with a mean price target of $82. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-28Markdown$86.04+0.0%Entry 15
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 5% above its long-term trend line with momentum reading bearish. Over the past year the shares are down 11%. Our forward projection puts the odds of a 10% gain over the next month near 23%. The street (25 analysts) rates it strong buy, with a mean price target of $82. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-27Markdown$86.04+0.0%Entry 14
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 5% above its long-term trend line with momentum reading bearish. Over the past year the shares are down 11%. Our forward projection puts the odds of a 10% gain over the next month near 23%. The street (25 analysts) rates it strong buy, with a mean price target of $82. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-26Markdown$86.04+0.0%Entry 13
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 5% above its long-term trend line with momentum reading bearish. Over the past year the shares are down 11%. Our forward projection puts the odds of a 10% gain over the next month near 23%. The street (25 analysts) rates it strong buy, with a mean price target of $82. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-25Markdown$86.04+0.0%Entry 12
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 16% above its long-term trend line with momentum reading neutral. Over the past year the shares are down 11%. Our forward projection puts the odds of a 10% gain over the next month near 23%. The street (25 analysts) rates it strong buy, with a mean price target of $82. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-24Markdown$86.04+0.0%Entry 11
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 16% above its long-term trend line with momentum reading neutral. Over the past year the shares are down 11%. Our forward projection puts the odds of a 10% gain over the next month near 23%. The street (25 analysts) rates it strong buy, with a mean price target of $82. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-23Markdown$86.04+0.0%Entry 10
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 16% above its long-term trend line with momentum reading neutral. Over the past year the shares are down 11%. Our forward projection puts the odds of a 10% gain over the next month near 23%. The street (25 analysts) rates it strong buy, with a mean price target of $82. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-22Markdown · changed$86.04+0.0%Entry 9
The framework has shifted from accumulation to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 16% above its long-term trend line with momentum reading neutral. Over the past year the shares are down 11%. Our forward projection puts the odds of a 10% gain over the next month near 23%. The street (25 analysts) rates it strong buy, with a mean price target of $82. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-18Accumulation$86.04-0.7%Entry 8
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.7% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading overbought. Over the past year the shares are down 11%. Our forward projection puts the odds of a 10% gain over the next month near 23%. The street (25 analysts) rates it strong buy, with a mean price target of $82.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.