DexCom price target lowered to $105 from $115 at Oppenheimer

Oppenheimer analyst Steven Lichtman lowered the firm’s price target on DexCom (DXCM) to $105 from $115 and keeps an Outperform rating on the shares. DexCom’s Q3 sales were ahead of the firm’s estimates due to better than expected International performance, though U.S. was below Street estimates, reflecting the impact of Q2’s lower new patient adds and the as-expect impact from mix, the analyst tells investors in a research note. Sales and margin guidance for 2024 were reiterated as were 2025 targets, the firm says.