January 8, 2017: Traders are bottom feeding in DexCom stock after Cowen says DexCom should be close to a bottom. Cowen reiterates an Outperform rating on DexCom, and sets a price target of $90. Cowen thinks DexCom should be close to a bottom and sees little risk to their 2017 30% Y/Y growth forecast (regardless of guidance) and expects revenue growth to accelerate in 2018.
Cowen says DexCom valuation versus peers suggests downside should be limited from here. It may take time but firm expects this combined with fortified confidence in competitive positioning to drive multiple expansion over the next 12-18 months.
January 3, 2017: Morgan Stanley cuts DexCom to Equal Weight from Overweight, and sets a price target of $66. Morgan Stanley says guidance risk and 670G concerns are somewhat reflected but Libre is not. Morgan Stanley notes competitive concerns could intensify as investors digest Libre before clarity returns or catalyst (G6/Medicare) build into 2018. Morgan Stanley says fears of subsequent deceleration are likely to weigh on the multiple over the intermediate term.
December 20, 2016: DexCom gets expanded approval from the FDA for G5 mobile continuous monitoring system; now approved as a replacement for fingerstick testing in diabetics aged 2 years and older. The U.S. Food and Drug Administration today expanded the approved use of Dexcom’s G5 Mobile Continuous Glucose Monitoring System to allow for replacement of fingerstick blood glucose (sugar) testing for diabetes treatment decisions in people 2 years of age and older with diabetes. This is the first FDA-approved continuous glucose monitoring system that can be used to make diabetes treatment decisions without confirmation with a traditional fingerstick test. The system was previously approved to complement, not replace, fingerstick testing for diabetes treatment decisions.
December 19, 2016: Oppenheimer Raised DexCom to an Outperform rating, from Perform, and set a price target of $84.
DexCom Stock Chart
The Finviz screener settings used to find DexCom are: Sector Healthcare, EPS growth next year 80% – 90%, EPS growth next 5 years Over 30%, Sales growth past 5 years Over 30%
DexCom, Inc., headquartered in San Diego, California, is developing and marketing continuous glucose monitoring systems for ambulatory use by people with diabetes and by healthcare providers in the hospital.