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Surging Diabetes Market Lifts Dexcom Into Top Spot in S&P 500

  • Dexcom’s 85% rally this year bests Newmont, Regeneron returns
  • First-quarter revenue surged 44% compared to the year prior
A Dexcom G6 Continuous Glucose Monitoring (CGM) System
A Dexcom G6 Continuous Glucose Monitoring (CGM) SystemPhotographer: Ben Birchall/PA Images via Getty Images

Dexcom Inc.’s recent entry into the S&P 500 gave the benchmark a new leader for the year, dethroning stocks like Newmont Corp. and Regeneron Pharmaceuticals Inc. that have seen share prices surge in the face of the coronavirus pandemic.

The medical device company’s 85% rally this year is 30 percentage points ahead of the next four closest stocks in the S&P 500. While Dexcom rose to a fresh record last week after replacing Allergan Plc in the index, the debate for further gains is a hot one.