Analyst Consensus ?
ConsensusBuy52 ratings
Bullish4280.8%
Neutral815.4%
Bearish23.8%
DexCom, Inc. · DXCM · FY2024 Q4 · Calendar Q1 2025
DexCom Maintains 2025 Outlook as Coverage and Products Expand
The call supports a constructive but conditional view: customer growth, payer expansion and a product pipeline provide support for continued growth, while rebates, margin execution, regulatory timing and reliance on coverage expansion remain material constraints.
Reported Before market openNASDAQHealthcare
$31.74B market cap
70quality score
Earnings scorecard
Reported versus consensus
Reported EPS
—
Consensus $0.50
EPS surprise
—
Reported versus consensus
Reported revenue
—
Consensus $1.10B
Revenue surprise
—
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+0.3%
Event window
SPY move
+1.1%
Same window
Abnormal move
-0.8%
Stock minus SPY
Volume
2.1×
Versus trailing sessions
Subsequent drift
-15.9%
Up to 20 sessions
DXCMSPY benchmark
Ask FN2 about DXCM FY2024 Q4
Transcript, numbers and history already loaded
What drove DXCM's +0.3% move after FY2024 Q4 earnings?What changed in DXCM's guidance and outlook in FY2024 Q4?Give me the bull and bear case for DXCM after FY2024 Q4 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
DexCom highlighted stronger coverage for type 2 non-insulin patients, more than 140,000 Stella users in its first four months, an Oura partnership, and a randomized controlled trial intended to support broader coverage. Management also maintained its 2025 revenue and margin outlook.
Guidance delta
Management maintained 2025 guidance for $4.6 billion of revenue, or 14% growth, and expects non-GAAP gross margin of 64% to 65%.
Key takeaways
- Q4 organic revenue grew 8%, while full-year organic growth reached 12%, in line with guidance.
- The customer base grew about 25% to more than 2.8 million, supported by US prescriber growth and international coverage wins.
- Management highlighted Stella OTC CGM, a 15-day G7 sensor planned for the second half of 2025, and ongoing G8 development.
- Two of the three largest PBMs cover CGM for type 2 non-insulin patients; DexCom targeted 5 million covered lives by year-end.
- Execution risks include rebate pressure, a $21 million non-cash inventory charge, FDA timing and supply-chain capacity.
Management priorities
- Expand payer coverage for type 2 non-insulin patients.
- Scale Stella OTC CGM distribution, including Amazon, and deepen the Oura integration.
- Launch the 15-day G7 sensor in the second half of 2025, subject to FDA approval.
- Advance the type 2 non-insulin randomized controlled trial and international market access.
- Continue G8 development, including multi-analyte capability.
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Analyst 52W Price Targets
$85.59Current
$28.12Low
$80.46Average
$146High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 12, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| RBC Capital | Outperform | Outperform | Maintain | Oct 1, 2026 |
| Truist Securities | Buy | Buy | Maintain | Sep 18, 2026 |
| TD Cowen | Buy | Buy | Maintain | Sep 18, 2026 |
| Argus Research | Buy | Buy | Maintain | Aug 4, 2026 |
| Canaccord Genuity | Buy | Buy | Maintain | Aug 3, 2026 |
| Wells Fargo | Overweight | Overweight | Maintain | Jul 31, 2026 |
| Stifel | Buy | Buy | Maintain | Jul 31, 2026 |
| Piper Sandler | Overweight | Overweight | Maintain | Jul 31, 2026 |
| Mizuho | Outperform | Outperform | Maintain | Jul 31, 2026 |
| JP Morgan | Neutral | Neutral | Maintain | Jul 31, 2026 |
| Citigroup | Buy | Buy | Maintain | Jul 31, 2026 |
| BTIG | Buy | Buy | Maintain | Jul 31, 2026 |
| Benchmark | Buy | Buy | Maintain | Jul 31, 2026 |
| Deutsche Bank | Buy | Buy | Maintain | Jun 23, 2026 |
| Barclays | Underweight | Underweight | Maintain | May 18, 2026 |
| B of A Securities | Buy | Buy | Maintain | May 18, 2026 |
| Bernstein | Outperform | Outperform | Maintain | Jan 9, 2026 |
| Morgan Stanley | Overweight | Equal Weight | Upgrade | Dec 2, 2025 |
| UBS | Buy | Buy | Maintain | Nov 3, 2025 |
| Goldman Sachs | Buy | Buy | Maintain | Oct 1, 2025 |
| Baird | Outperform | Outperform | Maintain | Sep 26, 2025 |
| Raymond James | Strong Buy | Strong Buy | Maintain | Jul 31, 2025 |
| Oppenheimer | Outperform | Outperform | Maintain | Jul 31, 2025 |
| Redburn Atlantic | Buy | Neutral | Upgrade | Feb 3, 2025 |
| Leerink Partners | Outperform | Outperform | Maintain | Oct 25, 2024 |
| Cowen & Co. | Outperform | Outperform | Maintain | Feb 10, 2023 |
| SVB Leerink | Outperform | Outperform | Maintain | Apr 29, 2022 |
| Guggenheim | Buy | Neutral | Upgrade | Jan 7, 2022 |
| Stephens & Co. | Overweight | Overweight | Maintain | Mar 26, 2020 |
| CFRA | Hold | Hold | Maintain | Feb 14, 2020 |
| Stifel Nicolaus | Buy | Buy | Maintain | Nov 7, 2019 |
| Piper Jaffray | Overweight | Overweight | Maintain | Nov 7, 2019 |
| BMO Capital | Outperform | Outperform | Maintain | Sep 3, 2019 |
| Bank of America | Buy | Buy | Maintain | Aug 1, 2019 |
| Northland Securities | Market Perform | Underperform | Upgrade | Sep 12, 2018 |
| Northland Capital Markets | Market Perform | Underperform | Upgrade | Sep 12, 2018 |
| Berenberg | Buy | Hold | Upgrade | Aug 6, 2018 |
| Jefferies | Buy | Buy | Maintain | Aug 2, 2018 |
| B. Riley FBR | Buy | Neutral | Upgrade | May 5, 2018 |
| BTIG Research | Neutral | Buy | Downgrade | May 3, 2017 |
| B. Riley Securities | Buy | Neutral | Upgrade | Dec 15, 2016 |
| Desjardins | Buy | Hold | Upgrade | Sep 16, 2016 |
| Sterne Agee CRT | Buy | Neutral | Upgrade | Oct 15, 2015 |
| Sterne Agee | Buy | Neutral | Upgrade | Oct 15, 2015 |
| Leerink Swann | Outperform | Market Perform | Upgrade | Oct 15, 2015 |
| Feltl & Co. | Sell | Hold | Downgrade | Feb 20, 2014 |
| Wedbush | Outperform | Outperform | Maintain | Nov 7, 2013 |
| Wunderlich Securities | Hold | Buy | Downgrade | Jun 10, 2013 |
| Wunderlich | Hold | Buy | Downgrade | Jun 10, 2013 |
| PiperJaffray | Overweight | Overweight | Maintain | Sep 20, 2012 |
| McNicoll Lewis Vlak | Hold | Hold | Maintain | May 3, 2012 |
| Brean Capital | Buy | Buy | Maintain | Feb 24, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $85.59. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Barclays | Analyst unavailable | $115 | $83.39 | +34.4% | Oct 6, 2026 |
| RBC Capital | Analyst unavailable | $105 | $86.29 | +22.7% | Oct 1, 2026 |
| Truist Financial | Analyst unavailable | $102 | $87.93 | +19.2% | Sep 18, 2026 |
| Argus Research | Steve Silver | $96 | $87 | +12.2% | Aug 4, 2026 |
| Canaccord Genuity | Analyst unavailable | $90 | $83.45 | +5.2% | Aug 3, 2026 |
| RBC Capital | Analyst unavailable | $90 | $83.45 | +5.2% | Aug 3, 2026 |
| Raymond James | Jayson Bedford | $94 | $82.66 | +9.8% | Jul 31, 2026 |
| Piper Sandler | Matt O'Brien | $95 | $74.54 | +11.0% | Jul 31, 2026 |
| Robert W. Baird | Analyst unavailable | $105 | $74.54 | +22.7% | Jul 31, 2026 |
| BTIG | Marie Thibault | $90 | $74.54 | +5.2% | Jul 31, 2026 |
| Truist Financial | Richard Newitter | $93 | $74.54 | +8.7% | Jul 31, 2026 |
| Stifel Nicolaus | Jonathan Block | $95 | $74.54 | +11.0% | Jul 31, 2026 |
| UBS | Analyst unavailable | $96 | $73.37 | +12.2% | Jul 28, 2026 |
| Truist Financial | Analyst unavailable | $87 | $77.61 | +1.6% | Jul 16, 2026 |
| Deutsche Bank | Analyst unavailable | $86 | $69.07 | +0.5% | Jun 23, 2026 |
| Piper Sandler | Matt O'Brien | $88 | $75.37 | +2.8% | Jun 15, 2026 |
| UBS | Analyst unavailable | $95 | $78.42 | +11.0% | Jun 10, 2026 |
| Mizuho Securities | Anthony Petrone | $85 | $76.62 | -0.7% | Jun 9, 2026 |
| Raymond James | Analyst unavailable | $91 | $76.62 | +6.3% | Jun 8, 2026 |
| Stifel Nicolaus | Jonathan Block | $90 | $72.59 | +5.2% | Jun 5, 2026 |
| Canaccord Genuity | Analyst unavailable | $82 | $61.63 | -4.2% | May 18, 2026 |
| Barclays | Matt Miksic | $64 | $61.63 | -25.2% | May 18, 2026 |
| Bernstein | Analyst unavailable | $77 | $61.03 | -10.0% | May 1, 2026 |
| Robert W. Baird | Analyst unavailable | $80 | $61.82 | -6.5% | May 1, 2026 |
| Mizuho Securities | Anthony Petrone | $75 | $61.65 | -12.4% | May 1, 2026 |
| Raymond James | Analyst unavailable | $81 | $59.55 | -5.4% | May 1, 2026 |
| Canaccord Genuity | Analyst unavailable | $100 | $59.55 | +16.8% | May 1, 2026 |
| Barclays | Analyst unavailable | $67 | $59.55 | -21.7% | May 1, 2026 |
| Robert W. Baird | Analyst unavailable | $87 | $70.67 | +1.6% | Feb 13, 2026 |
| Mizuho Securities | Anthony Petrone | $90 | $65.08 | +5.2% | Feb 13, 2026 |
| Canaccord Genuity | Analyst unavailable | $95 | $65.08 | +11.0% | Feb 13, 2026 |
| Barclays | Analyst unavailable | $72 | $65.08 | -15.9% | Feb 13, 2026 |
| Barclays | Analyst unavailable | $71 | $69.67 | -17.0% | Jan 12, 2026 |
| Bernstein | Analyst unavailable | $86 | $68.43 | +0.5% | Jan 9, 2026 |
| Mizuho Securities | Analyst unavailable | $78 | $66.37 | -8.9% | Dec 17, 2025 |
| Leerink Partners | Mike Kratky | $92 | $65.38 | +7.5% | Dec 16, 2025 |
| Morgan Stanley | Patrick Wood | $75 | $63.52 | -12.4% | Dec 2, 2025 |
| Morgan Stanley | Analyst unavailable | $63 | $55.21 | -26.4% | Nov 10, 2025 |
| Bernstein | Lee Hambright | $84 | $58.22 | -1.9% | Nov 3, 2025 |
| Barclays | Analyst unavailable | $80 | $58.22 | -6.5% | Nov 3, 2025 |
| Piper Sandler | Matt O'Brien | $75 | $56.97 | -12.4% | Oct 31, 2025 |
| RBC Capital | Analyst unavailable | $85 | $56.95 | -0.7% | Oct 31, 2025 |
| Robert W. Baird | Analyst unavailable | $82 | $59.19 | -4.2% | Oct 31, 2025 |
| Wells Fargo | Analyst unavailable | $93 | $68.2 | +8.7% | Oct 31, 2025 |
| Canaccord Genuity | William Plovanic | $99 | $68.2 | +15.7% | Oct 31, 2025 |
| Piper Sandler | Matt O'Brien | $100 | $68.44 | +16.8% | Oct 21, 2025 |
| Truist Financial | Richard Newitter | $94 | $65.55 | +9.8% | Oct 15, 2025 |
| Robert W. Baird | Analyst unavailable | $90 | $68.3 | +5.2% | Sep 26, 2025 |
| RBC Capital | Shagun Singh | $120 | $68.62 | +40.2% | Oct 8, 2024 |
| Stifel Nicolaus | Mathew Blackman | $100 | $72.28 | +16.8% | Aug 22, 2024 |
| RBC Capital | Shagun Singh | $130 | $72.36 | +51.9% | Aug 16, 2024 |
| Barclays | Matt Miksic | $113 | $64 | +32.0% | Jul 29, 2024 |
| Oppenheimer | Steven Lichtman | $115 | $107.85 | +34.4% | Jul 26, 2024 |
| Piper Sandler | Matt O\'Brien | $90 | $63.22 | +5.2% | Jul 26, 2024 |
| Canaccord Genuity | William Plovanic | $89 | $107.85 | +4.0% | Jul 26, 2024 |
| RBC Capital | Shagun Singh | $72.5 | $31.77 | -15.3% | Jul 26, 2024 |
| Stifel Nicolaus | Mathew Blackman | $132 | $112.66 | +54.2% | Jul 12, 2024 |
| Oppenheimer | Steven Lichtman | $150 | $115.23 | +75.3% | Jun 3, 2024 |
| Redburn Partners | Issie Kirby | $130 | $127.64 | +51.9% | May 30, 2024 |
| RBC Capital | Shagun Singh | $165 | $134.48 | +92.8% | Mar 12, 2024 |
| Oppenheimer | Steven Lichtman | $122 | $88.91 | +42.5% | Oct 27, 2023 |
| Morgan Stanley | Analyst unavailable | $131 | $114.45 | +53.1% | Jan 6, 2023 |
| Stifel Nicolaus | Stifel Stifel | $130 | $111.44 | +51.9% | Dec 26, 2022 |
| Citigroup | Analyst unavailable | $146 | $116.64 | +70.6% | Dec 12, 2022 |
| Piper Sandler | Matt O'Brien | $120 | $95.21 | +40.2% | Oct 7, 2022 |
| Raymond James | Analyst unavailable | $101 | $82.08 | +18.0% | Aug 1, 2022 |
| Morgan Stanley | Analyst unavailable | $83 | $86.99 | -3.0% | Jul 29, 2022 |
| Piper Sandler | Matt O'Brien | $110 | $86.99 | +28.5% | Jul 28, 2022 |
| Bernstein | Lee Hambright | $105 | $76.5 | +22.7% | Jul 15, 2022 |
| BTIG | Marie Thibault | $105 | $76.6 | +22.7% | Jun 28, 2022 |
| Morgan Stanley | Analyst unavailable | $91 | $69.31 | +6.3% | Jun 15, 2022 |
| Morgan Stanley | Analyst unavailable | $90.75 | $70.74 | +6.0% | Jun 13, 2022 |
| Morgan Stanley | Analyst unavailable | $22.69 | $19.28 | -73.5% | Jun 7, 2022 |
| Leerink Partners | Danielle Antalffy | $31.25 | $24.79 | -63.5% | May 3, 2022 |
| Raymond James | Analyst unavailable | $30.38 | $26.05 | -64.5% | Apr 29, 2022 |
| Piper Sandler | Analyst unavailable | $30 | $25.83 | -64.9% | Apr 29, 2022 |
| BTIG | Marie Thibault | $35 | $31.02 | -59.1% | Apr 21, 2022 |
| Bank of America Securities | Travis Steed | $31.25 | $26.5 | -63.5% | Mar 3, 2022 |
| Citigroup | Joanna Wuensch | $39.38 | $26.28 | -54.0% | Feb 11, 2022 |
| Oppenheimer | Steven Lichtman | $36.25 | $26.9 | -57.6% | Jan 31, 2022 |
| Wells Fargo | Larry Biegelsen | $35.94 | $27.2 | -58.0% | Jan 19, 2022 |
| Raymond James | Jayson Bedford | $33.62 | $27.2 | -60.7% | Jan 19, 2022 |
| Canaccord Genuity | Kyle Rose | $39.06 | $38.95 | -54.4% | Oct 29, 2021 |
| Berenberg Bank | Ravi Misra | $39.38 | $38.95 | -54.0% | Oct 29, 2021 |
| UBS | Matthew Taylor | $41.25 | $38.95 | -51.8% | Oct 29, 2021 |
| Jefferies | Anthony Petrone | $40.94 | $38.95 | -52.2% | Oct 29, 2021 |
| Stephens | Chris Cooley | $34.12 | $32.22 | -60.1% | Jul 30, 2021 |
| J.P. Morgan | Robbie Marcus | $28.12 | $24.38 | -67.1% | Jun 9, 2021 |
Track every rating change on DXCM the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationDexCom, Inc. is a medical technology company primarily focused on innovating, developing, and marketing continuous glucose monitoring (CGM) systems. Operating across the United States and internationally, the firm provides its solutions for individuals managing diabetes as well as for healthcare practitioners. Its product portfolio features the DexCom G6, a comprehensive CGM system for diabetes management; the Dexcom Real-Time API, enabling authorized third-party developers to integrate live CGM data into their digital health applications; the Dexcom ONE, which aims to supersede traditional…
Historical context
All DXCM earningsHealthcare peers this season
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|---|---|---|---|---|
| COO The Cooper Companies, Inc. | FY2026 Q3 · Calendar Q3 2026 | +2.7% | -14.7% | CooperCompanies beats expectations as inventory reduction weighs on vision revenue |
| MDT Medtronic plc | FY2027 Q1 · Calendar Q3 2026 | +4.3% | +1.5% | Medtronic raises FY27 outlook as growth broadens across platforms |
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2025-01-30T00:03:07.291072+00:00
- Polygon adjusted daily market bars · 2026-10-12T17:30:42.382436+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-12T17:30:42.379613+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-12. For educational purposes only; not investment advice.