12:50 AM EDT, 04/26/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

Our 12-month target of $133, up $2, reflects a 60x multiple applied to our '25 EPS estimate, below DXCM's recent historical forward average. The applied discount to that historical forward average is based on the potential for rising competition within the CGM space (as opposed to weight loss drugs, where we think the competitive risk is a bit overstated). We lift our '24 EPS estimate by $0.06 to $1.80, and '25's by $0.03 to $2.22. Q1 EPS of $0.32, vs. $0.17, beat the consensus view by $0.05. Q1 organic revenue growth was 25% year-over-year. However, DXCM now sees organic growth of 17%-21% in FY 24 overall, implying some deceleration in the remainder of '24. International revenue growth of 24% is one percentage point higher than Q3's 23%, but still below the 2023 exit rate of 30% growth. We think the addressable market for DXCM is large and far from saturated, but the declining growth rate guidance is a concern.