Dexcom: Solid Q4 Execution, Durable Growth Drivers, and Innovation Pipeline Underpin Buy Rating and $85 Target

In a report released yesterday, Marie Thibault from BTIG reiterated a Buy rating on Dexcom, with a price target of $85.00.

Marie Thibault has given his Buy rating due to a combination of factors including solid Q4 execution and reaffirmed multi-year guidance that implies steady double-digit revenue growth with expanding profitability. She highlights that Dexcom slightly exceeded consensus on both revenue and EPS, while maintaining 2026 targets for sales, gross margin, operating margin, and EBITDA margin, suggesting durable underlying demand and operating leverage.

In addition, she points to the ongoing 15-day G7 sensor rollout, the expected CMS expansion into non-insulin Type 2 diabetes, and an intensified push in international markets as key growth catalysts. A robust innovation pipeline, including new adhesive technology, software enhancements such as Smart Basal and upgraded apps, and broader EHR integration, further supports her view that Dexcom can sustain growth and justifies the $85 price target based on a sales multiple framework.

According to TipRanks, Thibault is an analyst with an average return of -12.6% and a 33.53% success rate. Thibault covers the Healthcare sector, focusing on stocks such as Edwards Lifesciences, Ceribell, Inc., and Masimo.

In another report released today, Canaccord Genuity also maintained a Buy rating on the stock with a $95.00 price target.