Analyst Consensus ?
ConsensusBuy52 ratings
Bullish4280.8%
Neutral815.4%
Bearish23.8%
DexCom, Inc. · DXCM · FY2026 Q3 · Calendar Q4 2026
Dexcom raises 2026 outlook as G7 15-Day adoption expands
Dexcom’s Q3 analysis supports a constructive operating trajectory: demand and U.S. share gains remained resilient, while G7 15-Day adoption, broader coverage potential, international launches, and distribution changes provide additional growth avenues. Execution risks remain around reimbursement, pricing, contract losses, and the Ireland ramp.
Reported After market closeNASDAQHealthcare
$30.16B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$0.73
Consensus $0.68
EPS surprise
+8.1%
Reported versus consensus
Reported revenue
$1.34B
Consensus $1.33B
Revenue surprise
+1.2%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
+5.6%
Event window
SPY move
-1.1%
Same window
Abnormal move
+6.7%
Stock minus SPY
Volume
0.3×
Versus trailing sessions
Subsequent drift
0.0%
Up to 20 sessions
DXCMSPY benchmark
Ask FN2 about DXCM FY2026 Q3
Transcript, numbers and history already loaded
Why did DXCM rise 5.6% after beating EPS estimates in FY2026 Q3?What changed in DXCM's guidance and outlook in FY2026 Q3?Give me the bull and bear case for DXCM after FY2026 Q3 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
The latest analysis points to 11% Q3 revenue growth, 14% U.S. growth, higher full-year 2026 revenue and margin targets, and continued G7 15-Day expansion. Dexcom also highlighted CONNECT’s NEJM publication, planned Canada and Japan launches, and a pending European distributor acquisition.
Guidance delta
Management raised full-year 2026 revenue guidance to $5.20-$5.25 billion and increased operating-margin and adjusted-EBITDA targets to approximately 24% and 32%, respectively.
Key takeaways
- Q3 revenue grew 11% year over year to $1.34 billion, with 14% U.S. growth and reported share gains in type 2 non-insulin patients.
- G7 15-Day adoption was described as on track for approximately 50% of U.S. customers by year-end, with Canada and Japan launches planned.
- The CONNECT study’s NEJM publication strengthens the evidence base for broader CGM coverage, while the timing of the CMS decision remains unresolved.
- Dexcom plans to expand direct distribution in Europe and add Dexcom Direct, alongside continued digital-platform and next-generation product development.
Management priorities
- Scale G7 15-Day adoption and international launches.
- Advance coverage and access through clinical evidence, Dexcom Direct, and distribution changes.
- Develop the digital ecosystem and next-generation GA platform while managing the Ireland manufacturing ramp.
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$84.46Current
$28.12Low
$80.81Average
$146High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 30, 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 |
|---|---|---|---|---|
| BTIG | Buy | Buy | Maintain | Oct 12, 2026 |
| 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 |
| 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 $84.46. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Mizuho Securities | Anthony Petrone | $100 | $85.92 | +18.4% | Oct 13, 2026 |
| Barclays | Analyst unavailable | $115 | $83.39 | +36.2% | Oct 6, 2026 |
| RBC Capital | Analyst unavailable | $105 | $86.29 | +24.3% | Oct 1, 2026 |
| Truist Financial | Analyst unavailable | $102 | $87.93 | +20.8% | Sep 18, 2026 |
| Argus Research | Steve Silver | $96 | $87 | +13.7% | Aug 4, 2026 |
| Canaccord Genuity | Analyst unavailable | $90 | $83.45 | +6.6% | Aug 3, 2026 |
| RBC Capital | Analyst unavailable | $90 | $83.45 | +6.6% | Aug 3, 2026 |
| Raymond James | Jayson Bedford | $94 | $82.66 | +11.3% | Jul 31, 2026 |
| Piper Sandler | Matt O'Brien | $95 | $74.54 | +12.5% | Jul 31, 2026 |
| Robert W. Baird | Analyst unavailable | $105 | $74.54 | +24.3% | Jul 31, 2026 |
| BTIG | Marie Thibault | $90 | $74.54 | +6.6% | Jul 31, 2026 |
| Truist Financial | Richard Newitter | $93 | $74.54 | +10.1% | Jul 31, 2026 |
| Stifel Nicolaus | Jonathan Block | $95 | $74.54 | +12.5% | Jul 31, 2026 |
| UBS | Analyst unavailable | $96 | $73.37 | +13.7% | Jul 28, 2026 |
| Truist Financial | Analyst unavailable | $87 | $77.61 | +3.0% | Jul 16, 2026 |
| Deutsche Bank | Analyst unavailable | $86 | $69.07 | +1.8% | Jun 23, 2026 |
| Piper Sandler | Matt O'Brien | $88 | $75.37 | +4.2% | Jun 15, 2026 |
| UBS | Analyst unavailable | $95 | $78.42 | +12.5% | Jun 10, 2026 |
| Mizuho Securities | Anthony Petrone | $85 | $76.62 | +0.6% | Jun 9, 2026 |
| Raymond James | Analyst unavailable | $91 | $76.62 | +7.7% | Jun 8, 2026 |
| Stifel Nicolaus | Jonathan Block | $90 | $72.59 | +6.6% | Jun 5, 2026 |
| Canaccord Genuity | Analyst unavailable | $82 | $61.63 | -2.9% | May 18, 2026 |
| Barclays | Matt Miksic | $64 | $61.63 | -24.2% | May 18, 2026 |
| Bernstein | Analyst unavailable | $77 | $61.03 | -8.8% | May 1, 2026 |
| Robert W. Baird | Analyst unavailable | $80 | $61.82 | -5.3% | May 1, 2026 |
| Mizuho Securities | Anthony Petrone | $75 | $61.65 | -11.2% | May 1, 2026 |
| Raymond James | Analyst unavailable | $81 | $59.55 | -4.1% | May 1, 2026 |
| Canaccord Genuity | Analyst unavailable | $100 | $59.55 | +18.4% | May 1, 2026 |
| Barclays | Analyst unavailable | $67 | $59.55 | -20.7% | May 1, 2026 |
| Robert W. Baird | Analyst unavailable | $87 | $70.67 | +3.0% | Feb 13, 2026 |
| Mizuho Securities | Anthony Petrone | $90 | $65.08 | +6.6% | Feb 13, 2026 |
| Canaccord Genuity | Analyst unavailable | $95 | $65.08 | +12.5% | Feb 13, 2026 |
| Barclays | Analyst unavailable | $72 | $65.08 | -14.8% | Feb 13, 2026 |
| Barclays | Analyst unavailable | $71 | $69.67 | -15.9% | Jan 12, 2026 |
| Bernstein | Analyst unavailable | $86 | $68.43 | +1.8% | Jan 9, 2026 |
| Mizuho Securities | Analyst unavailable | $78 | $66.37 | -7.6% | Dec 17, 2025 |
| Leerink Partners | Mike Kratky | $92 | $65.38 | +8.9% | Dec 16, 2025 |
| Morgan Stanley | Patrick Wood | $75 | $63.52 | -11.2% | Dec 2, 2025 |
| Morgan Stanley | Analyst unavailable | $63 | $55.21 | -25.4% | Nov 10, 2025 |
| Bernstein | Lee Hambright | $84 | $58.22 | -0.5% | Nov 3, 2025 |
| Barclays | Analyst unavailable | $80 | $58.22 | -5.3% | Nov 3, 2025 |
| Piper Sandler | Matt O'Brien | $75 | $56.97 | -11.2% | Oct 31, 2025 |
| RBC Capital | Analyst unavailable | $85 | $56.95 | +0.6% | Oct 31, 2025 |
| Robert W. Baird | Analyst unavailable | $82 | $59.19 | -2.9% | Oct 31, 2025 |
| Wells Fargo | Analyst unavailable | $93 | $68.2 | +10.1% | Oct 31, 2025 |
| Canaccord Genuity | William Plovanic | $99 | $68.2 | +17.2% | Oct 31, 2025 |
| Piper Sandler | Matt O'Brien | $100 | $68.44 | +18.4% | Oct 21, 2025 |
| Truist Financial | Richard Newitter | $94 | $65.55 | +11.3% | Oct 15, 2025 |
| Robert W. Baird | Analyst unavailable | $90 | $68.3 | +6.6% | Sep 26, 2025 |
| RBC Capital | Shagun Singh | $120 | $68.62 | +42.1% | Oct 8, 2024 |
| Stifel Nicolaus | Mathew Blackman | $100 | $72.28 | +18.4% | Aug 22, 2024 |
| RBC Capital | Shagun Singh | $130 | $72.36 | +53.9% | Aug 16, 2024 |
| Barclays | Matt Miksic | $113 | $64 | +33.8% | Jul 29, 2024 |
| Oppenheimer | Steven Lichtman | $115 | $107.85 | +36.2% | Jul 26, 2024 |
| Piper Sandler | Matt O\'Brien | $90 | $63.22 | +6.6% | Jul 26, 2024 |
| Canaccord Genuity | William Plovanic | $89 | $107.85 | +5.4% | Jul 26, 2024 |
| RBC Capital | Shagun Singh | $72.5 | $31.77 | -14.2% | Jul 26, 2024 |
| Stifel Nicolaus | Mathew Blackman | $132 | $112.66 | +56.3% | Jul 12, 2024 |
| Oppenheimer | Steven Lichtman | $150 | $115.23 | +77.6% | Jun 3, 2024 |
| Redburn Partners | Issie Kirby | $130 | $127.64 | +53.9% | May 30, 2024 |
| RBC Capital | Shagun Singh | $165 | $134.48 | +95.4% | Mar 12, 2024 |
| Oppenheimer | Steven Lichtman | $122 | $88.91 | +44.4% | Oct 27, 2023 |
| Morgan Stanley | Analyst unavailable | $131 | $114.45 | +55.1% | Jan 6, 2023 |
| Stifel Nicolaus | Stifel Stifel | $130 | $111.44 | +53.9% | Dec 26, 2022 |
| Citigroup | Analyst unavailable | $146 | $116.64 | +72.9% | Dec 12, 2022 |
| Piper Sandler | Matt O'Brien | $120 | $95.21 | +42.1% | Oct 7, 2022 |
| Raymond James | Analyst unavailable | $101 | $82.08 | +19.6% | Aug 1, 2022 |
| Morgan Stanley | Analyst unavailable | $83 | $86.99 | -1.7% | Jul 29, 2022 |
| Piper Sandler | Matt O'Brien | $110 | $86.99 | +30.2% | Jul 28, 2022 |
| Bernstein | Lee Hambright | $105 | $76.5 | +24.3% | Jul 15, 2022 |
| BTIG | Marie Thibault | $105 | $76.6 | +24.3% | Jun 28, 2022 |
| Morgan Stanley | Analyst unavailable | $91 | $69.31 | +7.7% | Jun 15, 2022 |
| Morgan Stanley | Analyst unavailable | $90.75 | $70.74 | +7.4% | Jun 13, 2022 |
| Morgan Stanley | Analyst unavailable | $22.69 | $19.28 | -73.1% | Jun 7, 2022 |
| Leerink Partners | Danielle Antalffy | $31.25 | $24.79 | -63.0% | May 3, 2022 |
| Raymond James | Analyst unavailable | $30.38 | $26.05 | -64.0% | Apr 29, 2022 |
| Piper Sandler | Analyst unavailable | $30 | $25.83 | -64.5% | Apr 29, 2022 |
| BTIG | Marie Thibault | $35 | $31.02 | -58.6% | Apr 21, 2022 |
| Bank of America Securities | Travis Steed | $31.25 | $26.5 | -63.0% | Mar 3, 2022 |
| Citigroup | Joanna Wuensch | $39.38 | $26.28 | -53.4% | Feb 11, 2022 |
| Oppenheimer | Steven Lichtman | $36.25 | $26.9 | -57.1% | Jan 31, 2022 |
| Wells Fargo | Larry Biegelsen | $35.94 | $27.2 | -57.5% | Jan 19, 2022 |
| Raymond James | Jayson Bedford | $33.62 | $27.2 | -60.2% | Jan 19, 2022 |
| Canaccord Genuity | Kyle Rose | $39.06 | $38.95 | -53.8% | Oct 29, 2021 |
| Berenberg Bank | Ravi Misra | $39.38 | $38.95 | -53.4% | Oct 29, 2021 |
| UBS | Matthew Taylor | $41.25 | $38.95 | -51.2% | Oct 29, 2021 |
| Jefferies | Anthony Petrone | $40.94 | $38.95 | -51.5% | Oct 29, 2021 |
| Stephens | Chris Cooley | $34.12 | $32.22 | -59.6% | Jul 30, 2021 |
| J.P. Morgan | Robbie Marcus | $28.12 | $24.38 | -66.7% | 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
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| REGN Regeneron Pharmaceuticals, Inc. | FY2026 Q3 · Calendar Q4 2026 | — | +12.3% | Regeneron: Core Brands Grow as Pipeline Milestones Advance |
| ILMN Illumina, Inc. | FY2026 Q3 · Calendar Q4 2026 | +19.1% | -16.8% | Illumina raises FY2026 outlook as clinical sequencing demand holds up |
| DVA DaVita Inc. | FY2026 Q3 · Calendar Q4 2026 | +7.0% | -6.8% | DaVita’s expanded HD rollout and IKC progress support a narrowed outlook |
| SYK Stryker Corporation | FY2026 Q3 · Calendar Q4 2026 | -0.8% | -5.0% | Stryker cuts guidance as hip and knee demand slows |
| ALNY Alnylam Pharmaceuticals, Inc. | FY2026 Q3 · Calendar Q4 2026 | +879.5% | -25.1% | Alnylam Q3: AMVUTTRA growth meets reimbursement uncertainty |
| KYMR Kymera Therapeutics, Inc. | FY2026 Q3 · Calendar Q4 2026 | -4.8% | +0.1% | Kymera advances KT-621 and KT-579 while reaffirming runway |
Latest beats and misses
Who reports nextBeat on EPS
- STRKFY2026 Q3 · October 29, 2026+121.6% EPS-2.7% move
- RKTFY2026 Q3 · October 29, 2026+10.8% EPS+5.0% move
- ILMNFY2026 Q3 · October 29, 2026+19.1% EPS-16.8% move
- STRCFY2026 Q3 · October 29, 2026+121.6% EPS-1.2% move
- WECFY2026 Q3 · October 29, 2026+21.5% EPS+3.7% move
- DVAFY2026 Q3 · October 29, 2026+7.0% EPS-6.8% move
Missed on EPS
- SYKFY2026 Q3 · October 29, 2026-0.8% EPS-5.0% move
- DLR-PJFY2026 Q3 · October 29, 2026-8.4% EPS— move
- DLRFY2026 Q3 · October 29, 2026-8.4% EPS-3.0% move
- EGFY2026 Q3 · October 28, 2026-18.8% EPS+3.5% move
- MKLFY2026 Q3 · October 28, 2026-2.3% EPS+1.2% move
- KYMRFY2026 Q3 · October 29, 2026-4.8% EPS+0.1% move
Get the DXCM recap when the next report posts
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Sources
- Earnings call transcript and parsed analysis · 2026-10-30T14:09:43.669016+00:00
- FN2 earnings calendar · 2026-10-30T01:23:13.979536+00:00
- Polygon adjusted daily market bars · 2026-10-30T14:10:46.176234+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-30T14:10:46.173321+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 2026-10-30. For educational purposes only; not investment advice.