Movement Alert｜DexCom Rises 5.6% in Regular Trading, Truist Raises Target Price as G7 15 Day CGM Wins Canada Approval

Market Focus07-16 22:00

On July 16, DexCom rose 5.6% in regular trading, reaching $77.46/share with turnover of $55.71 million. The rally was driven by a dual catalyst of an analyst price target upgrade and a recent regulatory approval in Canada.

Truist raised its price target on DexCom to $87 from $80, maintaining a Buy rating. The mean analyst target now stands at approximately $86.04 according to FactSet consensus. Additionally, on July 14, Health Canada authorized DexCom's G7 15 Day continuous glucose monitoring system for adults aged 18 and older with diabetes. The device provides real-time glucose readings for up to 15.5 days, making it the longest-lasting CGM authorized in Canada. The product is not yet commercially available, with launch details pending.

The broader Health Care Equipment sector showed strength, with Abbott Laboratories up 12.4%, Stryker up 5.73%, Boston Scientific up 5.23%, and Medtronic up 5.11%. DexCom is scheduled to report Q2 earnings on July 30, with consensus EPS estimate at $0.61.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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