Raymond James raises target price to $94 from $91 for Dexcom Inc

Raymond James has raised its price target for DexCom Inc. (NASDAQ: DXCM) to $94 from $91, maintaining its "Strong Buy" rating for the stock. This adjustment reflects the firm’s continued confidence in DexCom’s clinical advancements and financial trajectory. The stock was trading at $76.62 at the time of the update.

DexCom recently reported strong clinical results from its CONNECT trial, which demonstrated that the Dexcom G7 Continuous Glucose Monitoring (CGM) system significantly improved glycemic control for adults with Type 2 diabetes who do not use insulin. Participants using the G7 system experienced an average A1C reduction of 1.6%, outperforming the control group by 0.9%. These findings were presented at the American Diabetes Association’s 2026 Scientific Sessions.

Financially, DexCom has shown robust performance. In 2025, the company reported revenue of $4.66 billion, a 15.6% increase from the prior year. For Q2 2026, the company exceeded expectations with revenue of $1.31 billion and earnings per share of 70 cents. DexCom also raised its full-year revenue forecast and announced a $1 billion share buyback program.

Analysts remain optimistic, with an average price target of $90.16 and a "Strong Buy" consensus rating based on 28 analyst opinions.