DexCom (DXCM) PT Lowered at Piper Sandler; 'We Strongly Recommend Investors Buy the Stock'

Piper Sandler analyst Matt O'Brien lowered the price target on DexCom (NASDAQ: DXCM) to $75.00 (from $100.00) while maintaining a rating.

The analyst commented: "Today (30.10.), DXCM reported Q3 results, which beat across the board. However, the guidance for the end of the year implies a deceleration on a stack basis, and the lack of a “record new patient” quarter, along with a weak GM, will likely stoke the bear thesis that quality issues are impacting DXCM’s business and will continue in the future. We disagree as DXCM still added a lot of patients (barely missing on record new patients), the complaint rates on most G7 metrics are falling, and retention rates are generally steady. Consequently, we do not believe the wheels are falling off here, and the setup for ’26 is favorable. So we strongly recommend investors buy the stock tomorrow (31.10.). We rate shares OW; price target to $75."

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