Leerink Partners analyst Mike Kratky has reiterated their bullish stance on DXCM stock, giving a Buy rating on March 19.
Mike Kratky has given his Buy rating due to a combination of factors that indicate a positive outlook for Dexcom. The company has presented promising updates at the ATTD conference, particularly highlighting the benefits of continuous glucose monitoring (CGM) for Type 2 diabetes patients, as well as performance data for its G7 15-day sensor. These updates suggest an accelerating adoption of Dexcom’s technology in both Type 1 and Type 2 diabetes markets, which is expected to drive growth in the near to intermediate term.
Furthermore, the G7 sensor’s impressive mean absolute relative difference (MARD) of 8.0% positions it as one of the most accurate in the market, offering a strong value proposition compared to competitors. This accuracy, combined with the extended wear time of 15 days, is anticipated to be well-received by investors and could lead to gross margin improvements. Additionally, Dexcom’s State of Type 2 report underscores the significant potential of CGM technology to aid in diabetes management, further supporting the company’s growth prospects and the achievability of its 2025 revenue and gross margin targets.
According to TipRanks, Kratky is a 4-star analyst with an average return of 16.5% and a 43.00% success rate. Kratky covers the Healthcare sector, focusing on stocks such as Dexcom, AxoGen, and Inspire Medical Systems.
In another report released on March 19, Wells Fargo also maintained a Buy rating on the stock with a $98.00 price target.