DexCom Glucose Monitors' National Coverage Could Support H2 Upside, RBC Capital Markets Says

MT Newswires Live07-31 23:55

DexCom's (DXCM) upcoming national coverage determination for its continuous glucose monitoring system and strong demand momentum could support an even more positive H2 outlook, RBC Capital Markets said in a note Friday.

The company's G7 15-day CGM is now accessible to adult G7 customers in the US following the availability of Tandem's (TNDM) Tandem Mobi automated insulin pump, and management is on track to convert nearly 50% of its US installed base by year-end, according to the note.

The investment firm said the combination of expanded G7 access, product cycle momentum, and improving customer satisfaction positions the company for potential US upside in H2.

International markets remain crucial to DexCom's growth story, with global new starts matching prior-quarter records and G7 15-day cleared in Canada, the firm said, adding that it sees the 15-day rollout as a key driver for consistent double-digit international growth.

RBC Capital Markets kept an outperform rating on DexCom and raised its price target to $90 from $85.

Shares of DexCom were up about 11% in Friday trading.

Price: 82.72, Change: +8.18, Percent Change: +10.97

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