Mike Kratky, an analyst from Leerink Partners, reiterated the Buy rating on Dexcom (DXCM – Research Report). The associated price target remains the same with $95.00.
Mike Kratky has given his Buy rating due to a combination of factors surrounding Dexcom’s recent developments. The FDA’s approval of the G7 15 Day sensor for adults in the US is seen as a positive surprise, especially given the cautious investor sentiment regarding the speed of regulatory approval amidst ongoing resolution processes. This approval is expected to support Dexcom’s revenue and margin targets for 2025 by reducing associated risks, as the company is actively working with partners to ensure integration readiness upon launch.
Additionally, the G7 15 Day sensor stands out in the market for its longevity and accuracy, lasting longer than its competitors and offering a mean absolute relative difference that is competitive. Its waterproof feature and compatibility with the Apple Watch further enhance its appeal. These product advantages, combined with strategic management actions, underpin Kratky’s optimistic outlook on Dexcom’s stock.
In another report released on April 11, Bernstein also reiterated a Buy rating on the stock with a $100.00 price target.
Based on the recent corporate insider activity of 71 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.