William Blair analyst Brandon Vazquez has maintained their bullish stance on DXCM stock, giving a Buy rating on November 3.
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Brandon Vazquez has given his Buy rating due to a combination of factors. Firstly, the recent updates to the MAUDE filings indicate a decline in Dexcom’s G7 filings, which aligns with management’s assurances that previous reliability issues have been addressed. This development is likely to bolster investor confidence in the company’s operational improvements.
Furthermore, despite the current negative sentiment in the market following the third-quarter update, Vazquez sees the current share price pullback as an attractive entry point. The potential for T2 NI CMS coverage next year is identified as a significant catalyst, and with shares trading at a valuation comparable to medtech peers but with a higher EPS growth rate, Dexcom presents a compelling investment opportunity.
In another report released on November 3, UBS also maintained a Buy rating on the stock with a $95.00 price target.
Based on the recent corporate insider activity of 66 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of DXCM in relation to earlier this year.