TD Cowen analyst Joshua Jennings reiterated a Buy rating and $84.00 price target on DexCom (NASDAQ: DXCM).

The analyst commented: "Raising Estimates To Reflect DXCM's Compelling 2026-2028 Margin Story; Given recent concerns around a slowing of the US CGM market (law of large numbers) following DXCM/ABT's 2026 guidance releases, we believe profitability improvements may become top of mind for DXCM investors. We still believe in the US reacceleration following Medicare T2NIT access expansion, but for now, we identify an extremely compelling case for 2026-2028 gross and operating margin expansion."

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Shares of DexCom closed at $62.37 yesterday.