Dexcom

Dexcom sustains premium positioning in intensive insulin users via feature set, AID compatibility, and data services, but list price increases are constrained by payer dynamics and Abbott’s aggressive pricing, particularly in OTC. Margin expansion is therefore coming more from mix and unit economics than headline price.

The G7 15‑Day clearance and Smart Basal expand value delivered per sensor and can support ASP stability while lowering cost per day. OTC Stelo is priced to expand the market rather than maximize near‑term margins at 89 to 99 dollars per month.

We view latent pricing power as moderate in core segments and low in consumer OTC, with overall strength supported by differentiation.