William Blair analyst Brandon Vazquez has maintained their bullish stance on DXCM stock, giving a Buy rating yesterday.
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Brandon Vazquez’s rating is based on several positive indicators for Dexcom’s financial performance and future prospects. The company reported second-quarter sales and earnings per share that exceeded market expectations by 3% and 8%, respectively. This outperformance led to an increase in revenue guidance, suggesting a strong business trajectory.
Additionally, Dexcom is experiencing continued momentum with new patient starts, particularly in the type 2 non-insulin segment, which is expected to sustain throughout the year. The launch of a 15-day sensor and growing non-insulin reimbursement are anticipated to drive further sales and profitability. These factors, combined with potential updates in CMS coverage, position Dexcom for reliable growth, justifying the Buy rating with shares trading at a reasonable multiple of future earnings.
Vazquez covers the Healthcare sector, focusing on stocks such as Neogen, Elanco Animal Health, and PROCEPT BioRobotics. According to TipRanks, Vazquez has an average return of -0.6% and a 33.33% success rate on recommended stocks.
In another report released yesterday, TD Cowen also maintained a Buy rating on the stock with a $100.00 price target.