Is Wall Street Bullish or Bearish on DexCom Stock?

Is Wall Street Bullish or Bearish on DexCom Stock?

Fri, August 14, 2026 at 7:42 PM GMT+3 2 min read

With a market cap of $34.5 billion, DexCom, Inc. (DXCM) is a medical device company that designs, develops, and commercializes continuous glucose monitoring (CGM) systems for diabetes and metabolic health management in the United States and internationally. It offers products such as Dexcom G6, Dexcom G7, Dexcom ONE, and Stelo, serving patients, caregivers, and clinicians worldwide.

Shares of the medical device company have underperformed the broader market over the past 52 weeks. DXCM stock has increased 13.8% over this time frame, while the broader S&P 500 Index ($SPX) has returned 20.3%. However, the stock has soared 37.2% on a YTD basis, outpacing SPX's 13.7% gain.

More News from Barchart

Further, shares of the San Diego, California-based company have lagged behind the State Street Health Care Select Sector SPDR ETF's (XLV) 25% surge over the past 52 weeks.

DexCom has underperformed amid concerns about its competitive pressures in the CGM market and uncertainty about the pace of broader diabetes-market adoption.

Nevertheless, the stock surged nearly 12% following its Q2 2026 results on Jul. 30, with adjusted EPS of $0.70 and revenue rising 13% year-over-year to $1.31 billion, both beating analysts' estimates. Strong demand for continuous glucose monitors, driven by rising diabetes-care awareness, improved insurance coverage and growing consumer adoption of finger-prick-free technology, supported the better-than-expected performance and reinforced Dexcom's competitive position against Abbott and Medtronic.

The company also raised its full-year 2026 revenue outlook to $5.18 billion - $5.25 billion, with strong guidance and collaboration with activist investor Elliott Investment Management on board changes further boosting investor confidence.

For the fiscal year ending in December 2026, analysts expect DXCM's adjusted EPS to grow 26.3% year-over-year to $2.64. The company's earnings surprise history is promising. It beat the consensus estimates in each of the last four quarters.

Among the 29 analysts covering the stock, the consensus rating is a "Strong Buy." That's based on 24 "Strong Buy" ratings, one "Moderate Buy," three "Holds," and one "Strong Sell."

This configuration is more bullish than three months ago, with 22 "Strong Buy" ratings on the stock.

On Aug. 3, Canaccord raised its DexCom price target to $90 and maintained a "Buy" rating.

The mean price target of $92.48 represents a 2.2% premium to DXCM's current levels. The Street-high price target of $115 implies a potential upside of 27.1%.

On the date of publication, Sohini Mondal did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Barchart.com