• There is no doubt that the company has a terrific market opportunity in front of it and so far it has done a stellar job of taking advantage of that.
• However, an awful lot is already priced in the share price, and there are significant competition and headwinds from a channel shift that affect average pricing.
• In the present environment, where stocks have no margin for error, the risks seem to outweigh the benefits for us here.

Source: DexCom Is Priced For Perfection – DexCom, Inc. (NASDAQ:DXCM) | Seeking Alpha