Dexcom, the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Josh Jennings from TD Cowen maintained a Buy rating on the stock and has a $100.00 price target.
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Josh Jennings has given his Buy rating due to a combination of factors surrounding Dexcom’s recent developments. Despite the ongoing debate about the G7 sensor’s reliability and accuracy, Jennings notes that the potential negative impact on market share seems to be already reflected in the stock price. Moreover, recent checks with endocrinologists and diabetes educators indicate that the reliability issues are primarily linked to a change in manufacturing materials, which has been addressed in sensors produced after June 1, leading to improved performance.
Patient loyalty and integration within the Automated Insulin Delivery (AID) ecosystem have minimized the switch away from the G7, despite some reputational risks. Jennings acknowledges that while communication missteps may have exacerbated the perception of the issue, the actual technical problems are reportedly diminishing. With these improvements and the strategic importance of maintaining a strong position before Abbott’s Libre 3 Plus gains wider integration, Jennings sees a positive outlook for Dexcom, justifying the Buy rating.
According to TipRanks, Jennings is a 3-star analyst with an average return of 1.6% and a 47.39% success rate. Jennings covers the Healthcare sector, focusing on stocks such as TransMedics Group, Medtronic, and Boston Scientific.
In another report released on September 20, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $75.00 price target.