Dexcom: Buy Rating Reiterated with Attractive Growth Outlook and Unchanged $80 Price Target

Marie Thibault, an analyst from BTIG, maintained the Buy rating on Dexcom. The associated price target remains the same with $80.00.

Marie Thibault has given his Buy rating due to a combination of factors that highlight Dexcom’s attractive growth and profitability outlook. She expects management to lay out a new multi‑year financial plan at the upcoming Investor Day, with double‑digit revenue growth and a credible path to meaningful margin expansion, supported by higher‑margin G7 adoption and new manufacturing capacity coming online.

She also sees a significant upside opportunity from potential U.S. Medicare coverage expansion into non‑insulin type 2 diabetes patients, where continuous glucose monitoring remains underpenetrated, and from ongoing commercial and international growth initiatives. In her view, these growth drivers, combined with improving operating leverage, justify valuing the stock at 5x her 12‑ to 24‑month sales forecast and support maintaining an $80 price target and a Buy recommendation.

In another report released on May 5, Wells Fargo also maintained a Buy rating on the stock with a $85.00 price target.