Jim Cramer’s Latest Stock Picks

5. DexCom, Inc. (NASDAQ:DXCM)

Number of Hedge Fund Holders: 64

Cramer expressed disappointment with DexCom, Inc.’s (NASDAQ:DXCM) last quarter but did remark that the CEO can deliver. Here’s what Mad Money’s host had to say:

“That last quarter was really terrible, I’ve got to tell you. New quarter’s on the horizon. I frankly can’t believe that it could be as bad as the last quarter. And… Kevin Sayer, I think can deliver. But you know what? I lost conviction after that last quarter. I really did.”

DexCom (NASDAQ:DXCM) designs, develops, and commercializes continuous glucose monitoring (CGM) systems aimed at improving diabetes management. Among its flagship products are the Dexcom G6 and G7 integrated CGM systems, which play an important role in helping individuals monitor their glucose levels effectively.

As a prominent player in the CGM market, the company recently achieved a significant milestone by becoming the first company to receive approval for an over-the-counter glucose biosensor. Known as the Stelo, this device was approved by the U.S. Food and Drug Administration for adults aged 18 and older who are not using insulin.

However, it is worth noting that DexCom (NASDAQ:DXCM) management recently adjusted its 2024 revenue guidance, revising expectations from a range of $4.2 billion – $4.35 billion down to between $4 billion and $4.05 billion. Contributing to this shift was the faster-than-anticipated rebate eligibility for the G7 CGM, which affected stock performance.