Barclays downgrades DexCom to Underweight on rising competitoin

Barclays analyst Matt Miksic downgraded DexCom (DXCM) to Underweight from Equal Weight with a price target of $71, down from $80. The firm expects competition in DexCom’s core insulin intensive market segments wall increase in 2026 and 2027. This will further constrain the stock’s multiple and weigh on performance over the near- to medium-term, the analyst tells investors in a research note. Barclays says that over the past five years, DexCom’s share of the continuous glucose monitoring market “has been squeezed” by the success of Abbott’s (ABT) Freestyle Libre platform.