Bank of America Securities analyst Travis Steed maintained a Buy rating on Dexcom (DXCM – Research Report) yesterday and set a price target of $105.00.
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Travis Steed’s rating is based on Dexcom’s strategic advancements and market opportunities. The company is addressing supply chain challenges by ensuring inventory availability and is actively working on product integration, particularly with its 15-day continuous glucose monitoring system. This integration is expected to enhance Dexcom’s market position and drive future earnings growth.
Moreover, Dexcom’s efforts to expand coverage, especially in non-insulin markets, and its proactive approach to reimbursement issues are seen as positive indicators for the company’s financial health. The anticipated margin improvements from the transition to the 15-day system and the supportive regulatory environment further contribute to the optimistic outlook, justifying the Buy rating with a price objective of $105.
In another report released on May 12, Wells Fargo also maintained a Buy rating on the stock with a $98.00 price target.
Based on the recent corporate insider activity of 85 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of DXCM in relation to earlier this year.