DexCom Q3 Results, Higher Revenue Guidance Point to Stronger 2027, RBC Says

MT Newswires Live10-30 23:53

DexCom (DXCM) posted better-than-expected Q3 results and raised its 2026 revenue guidance, and US share gains along with near-record global new patients make its 2027 outlook more promising, RBC Capital Markets said in a note emailed Friday.

The company remains on track to convert nearly 50% of its US installed base to its 15-day G7 sensor by year-end, and intends to launch the device in Canada in November while planning to bring its G8 sensor in late 2027 or early 2028, the note added.

The company raised its 2026 revenue guidance to growth of 12% to 13% annually and its margin outlook to 32% adjusted earnings before interest, taxes, depreciation and amortization, and is confident in its 2030 long-range plan targets, the investment firm said.

A US Centers for Medicare and Medicaid Services coverage decision for non-insulin type 2 diabetes patients is expected by the end of 2026, and the firm sees it as a matter of when, not if, and still underappreciated by investors, according to the note.

RBC kept the company's outperform rating and $105 price target.

Price: 84.10, Change: +4.17, Percent Change: +5.22

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