Dexcom CEO Kevin Sayer Takes Temporary Medical Leave

Dexcom Inc's CEO Kevin R. Sayer has taken temporary medical leave, according to a SEC filing. Dexcom specializes in continuous glucose monitoring systems for people with diabetes and healthcare providers. The US accounts for 71.7% of net sales.

Dexcom Inc's CEO, Kevin R. Sayer, has taken temporary medical leave, as reported in a recent SEC filing. The company specializes in continuous glucose monitoring systems, catering to people with diabetes and healthcare providers. The United States accounts for 71.7% of the company's net sales.

The announcement comes as Dexcom reported a 15.2% increase in quarterly revenue year-over-year, with earnings per share of $0.48, surpassing analysts' expectations DexCom, Inc. $DXCM Holdings Reduced by Alliancebernstein L.P.^[1]. The company's stock, trading under the ticker symbol DXCM, has seen a 0.4% increase in value, reaching $76.33 per share.

Institutional investors have shown varying levels of interest in Dexcom's stock. Alliancebernstein L.P. reduced its position in shares of Dexcom, Inc. by 2.1% in the first quarter, while Golden State Wealth Management LLC grew its position by 211.2% during the same period DexCom, Inc. $DXCM Holdings Reduced by Alliancebernstein L.P.^[1]. Other notable investors, such as Zions Bancorporation National Association UT and Private Trust Co. NA, have also adjusted their stakes in the company's stock.

Despite the recent recall of smartphone apps for Dexcom's continuous glucose monitors (CGMs) by the FDA, the company has reported no injuries or deaths related to the issue FDA identifies serious recall for Dexcom CGM mobile apps^[2]. The recall involves correcting certain devices through a software update and does not require the removal of the devices from where they are used or sold.

The recall affects the G7 CGM apps for Android, iOS, and watchOS, as well as the Dexcom ONE+ Android and iOS apps. The error in these apps leads to a missed "Sensor Failed" alert when the sensor's transmitter encounters a hardware/firmware failure, potentially resulting in missed glucose data and delayed treatment.

Several Wall Street analysts have issued positive ratings and price targets for Dexcom's stock. Raymond James Financial, Citigroup, Canaccord Genuity Group, Goldman Sachs Group, and UBS Group have all given the company a "buy" rating, with price targets ranging from $102.00 to $106.00 DexCom, Inc. $DXCM Holdings Reduced by Alliancebernstein L.P.^[1].