Canaccord Genuity Reiterates a 'Buy' on DexCom (DXCM); Management Shines Light on '12 Catalysts

June 22, 2012 8:40 AM EDT
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Price: $85.49 --0%

Rating Summary:
    16 Buy, 9 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 9 | Down: 12 | New: 44
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Canaccord Genuity reiterates a 'Buy' on DexCom (NASDAQ: DXCM) price target of $14.00 (from $11.50).

Analyst, William J. Plovanic, said, "We recently traveled with management from DexCom and came away with more clarity regarding 2012 catalysts, the US regulatory status of the Gen4 sensor, partner projects, and the longer-term new product pipeline...Commentary related to the regulatory status of its Gen4 sensor continues to be very encouraging. Given certain regulatory tasks/milestones that have already been completed, we believe that approval by YE12 is a very real possibility...Management has a stretch goal of reaching cash flow positive at YE12/early 2013 vs. our mid-2013 view."

For an analyst ratings summary and ratings history on DexCom click here. For more ratings news on DexCom click here.

Shares of DexCom closed at $12.63 yesterday.

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