DexCom (DXCM) shares fell nearly 15% in recent Friday trading after multiple brokerages trimmed their price targets on the stock following its Q3 results late Thursday.

RBC Capital Markets said in a Friday note that the market "misunderstood" DexCom's conservative initial 2026 guidance, which likely triggered the share decline. The brokerage called the reaction "overdone," noting that such cautious early guidance is typical and often positions management to deliver upside later.

RBC cut its price target to $85 from $100 but kept an outperform rating. JPMorgan lowered its target to $75 from $90, Goldman Sachs to $83 from $89, Mizuho to $75 from $90, and Wells Fargo to $93 from $98.

DexCom reported Q3 adjusted earnings of $0.61 per share, up from $0.45 a year earlier and above the $0.57 consensus. Revenue rose to $1.21 billion from $994.2 million, also topping expectations of $1.18 billion.

The company raised its full-year 2025 revenue guidance to $4.63 billion to $4.65 billion from $4.60 billion to $4.63 billion earlier. Analysts expect $4.63 billion.

Price: 58.20, Change: -10.01, Percent Change: -14.67