Forecasting blood glucose (BG) levels with routinely collected data is useful for glycemic management. BG dynamics are nonlinear, complex, and nonstationary, which can be represented by nonlinear models. However, the sparsity of routinely collected data creates parameter identifiability issues when high-fidelity complex models are used, thereby resulting in inaccurate forecasts. One can use models with reduced physiological fidelity for robust and accurate parameter estimation and forecasting with sparse data. For this purpose, we approximate the nonlinear dynamics of BG regulation by a linear stochastic differential equation: we develop a linear stochastic model, which can be specialized to different settings: type 2 diabetes mellitus (T2DM) and intensive care unit (ICU), with different choices of appropriate model functions. The model includes deterministic terms quantifying glucose removal from the bloodstream through the glycemic regulation system and representing the effect of nutrition and externally delivered insulin. The stochastic term encapsulates the BG oscillations. The model output is in the form of an expected value accompanied by a band around this value. The model parameters are estimated patient-specifically, leading to personalized models. The forecasts consist of values for BG mean and variation, quantifying possible high and low BG levels. Such predictions have potential use for glycemic management as part of control systems. We present experimental results on parameter estimation and forecasting in T2DM and ICU settings. We compare the model’s predictive capability with two different nonlinear models built for T2DM and ICU contexts to have a sense of the level of prediction achieved by this model.