Truist analyst Richard Newitter initiated coverage of DexCom (DXCM) stock with a Buy rating and a price target of $102. The 5-star analyst called DexCom a “leading innovator” in the rapidly expanding continuous glucose monitoring (CGM) market. DXCM stock was up about 2% as of writing. As of Friday’s closing, DexCom stock advanced more than 5% year-to-date.
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Truist Is Bullish on DexCom Stock
Newitter expects DexCom’s innovation to fuel increased CGM adoption in large and underpenetrated multi-billion-dollar type 1 (T1) and type 2 (T2) diabetes total addressable markets.
With last year’s execution missteps behind the company, the analyst expects it to sustain an above-consensus revenue and EPS CAGR (compound annual growth rate) of 15% and 25%, respectively, in the 2024 to 2028 period. The analyst expects these growth estimates to be backed by revenue catalysts, including expanding T2 non-insulin treated (NIT) reimbursement and automated insulin delivery (AID) integrations, and margin drivers like the 15-day wear offering.
Mainly, Newitter thinks that T2 CGM adoption is still in the early phase, and DexCom is well-positioned to leverage a steepening penetration curve. He is bullish on the company due to ongoing reimbursement wins, positive guideline updates, and anticipated clinical data (in 2026) serving as momentum drivers in the second half of 2025-2026 and beyond.
Newitter ranks 269th out of more than 9,600 analysts tracked by TipRanks. He has a success rate of 56%, with an average return per rating of 14.9% over a one-year period.
Is DXCM a Good Stock to Buy?
Even before Truist’s Buy rating, DexCom stock scored a Strong Buy consensus rating based on 17 Buys and one Hold recommendation. The average DXCM stock price target of $99.23 indicates 20%
