Jefferies analyst Matthew Taylor has maintained their bullish stance on DXCM stock, giving a Buy rating today.
Matthew Taylor has given his Buy rating due to a combination of factors that highlight Dexcom’s promising outlook. The recent FDA clearance for the G7 15-day wear device is a significant milestone, aligning with the company’s previous guidance and alleviating concerns about potential delays. This approval is expected to boost investor confidence and is seen as a catalyst for growth, particularly in a challenging market environment.
Additionally, the expansion of Dexcom’s prescriber base and the strong growth in new customer starts reflect the company’s solid market position and execution capabilities. The anticipated increase in covered lives and the potential for further market expansion through pump integrations and international growth further support the positive outlook. These factors, combined with the expectation of improved gross margins from the new 15-day wear product, underpin Taylor’s Buy rating for Dexcom.
Taylor covers the Healthcare sector, focusing on stocks such as Dexcom, Lantheus, and Edwards Lifesciences. According to TipRanks, Taylor has an average return of 6.9% and a 55.22% success rate on recommended stocks.