William Blair analyst Brandon Vazquez has maintained their bullish stance on DXCM stock, giving a Buy rating yesterday.
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Brandon Vazquez has given his Buy rating due to a combination of factors that suggest Dexcom’s potential for growth despite current concerns. He acknowledges that the MAUDE database, which has raised some quality concerns, is inherently noisy and not definitive, as it allows anyone to file reports that are not always verified. Vazquez emphasizes the importance of analyzing these filings in the context of the rapid growth of Dexcom’s user base, which provides a more accurate picture of the situation.
Furthermore, Vazquez notes that recent trends in MAUDE filings align with Dexcom’s explanations, suggesting that the company has addressed the issues effectively. He is encouraged by the company’s recent record patient additions, which indicate strong fundamentals. Additionally, the stock’s valuation, the upcoming launch of a 15-day sensor, and potential reimbursement opportunities for type 2 non-insulin users contribute to his optimistic outlook, making him inclined to recommend buying on any stock weakness.
In another report released yesterday, TD Cowen also maintained a Buy rating on the stock with a $100.00 price target.