Argus Initiates Coverage of DexCom (DXCM) with a Buy Rating

DexCom, Inc. (NASDAQ:DXCM) is one of the best strong buy growth stocks to buy now. On August 21, Argus initiated coverage of DexCom, Inc. (NASDAQ:DXCM) with a Buy rating and $100 price target.

Why DexCom Inc. (DXCM) Soared Last Week

The firm told investors in a research note that it sees DexCom, Inc. (NASDAQ:DXCM) maintaining above industry average growth, leveraging costs to boost profitability, and expanding its customer reach across the continuous glucose monitoring for diabetes landscape.

It added that DexCom, Inc. (NASDAQ:DXCM) has “robust” free cash flows that bolster its balance sheet and allow higher-than-peer research and development investments that drive product innovation.

The firm views the current share levels as an attractive entry point for DexCom, Inc. (NASDAQ: DXCM).

DexCom, Inc. (NASDAQ:DXCM) is a medical device company that manufactures continuous glucose monitoring (CGM) systems to allow real-time health management control. Specializing in diabetes care technology, the company helps improve and simplify diabetes management worldwide.

It offers various medical devices and products, including Dexcom G6, Dexcom G7, Dexcom Stelo, Dexcom Share, Dexcom Real-Time API, and Dexcom ONE.

While we acknowledge the potential of DXCM to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than DXCM and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.