In a report released yesterday, Josh Jennings from TD Cowen reiterated a Buy rating on Dexcom, with a price target of $84.00.
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Josh Jennings has given his Buy rating due to a combination of factors, including Dexcom’s consistent top-line outperformance and strengthening demand trends. Fourth-quarter revenue modestly exceeded market expectations, powered by both U.S. and international markets, while growing patient sell-through and the strong launch of the 15-day G7 and Stelo products point to durable volume expansion.
Jennings also highlights improving profitability and financial flexibility as key supports for the Buy thesis. Despite a slight gross margin shortfall versus consensus, operating margins and non-GAAP EPS surpassed forecasts, and management reaffirmed 2026 targets as manufacturing efficiencies and the new Ireland facility are expected to further support margins, reinforcing confidence in the multiyear growth and earnings trajectory.
In another report released on February 5, Piper Sandler also maintained a Buy rating on the stock with a $75.00 price target.