DexCom price target lowered to $130 from $145 at RBC Capital

RBC Capital analyst Shagun Singh lowered the firm’s price target on DexCom to $130 from $145 and keeps an Outperform rating on the shares after hosting meetings with its management team. The firm has come away “incrementally positive” on the Dexcom turnaround as the company is reengaging the sales force in DME channe, has clear pathway to full sales force productivity exiting 2024, and sees opportunity for increased penetration in the global diabetes market, the analyst tells investors in a research note. RBC also recommends to be “aggressive buyer” on weakness in DexCom shares.