DexCom (DXCM) PT Raised to $73 at Wedbush
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Rating Summary:
26 Buy, 8 Hold, 1 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
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Wedbush analyst Tao Levy reiterated an Outperform rating and boosted its price target on DexCom (NASDAQ: DXCM) to $73.00 (from $70.00) following Q4 results which were surprising profitably with several upcoming catalysts.
Levy commented, "With DexCom already having preannounced 4Q results, it was a good sign that there were still plenty of positive takeaways from the call, including its first GAAP-profitable quarter (although the company has been cash EPS positive for several quarters), record gross margin, greater insights into its exciting product pipeline, and commentary that so far in 1Q15 its pipeline of new patient opportunities is larger than it has ever been. With top line growth significantly faster than its peers, several exciting new product catalysts, improving margins, and increasing profitability, we continue to view DXCM as one of the best positioned small-cap growth stocks in MedTech."
Upcoming product catalysts: Animas Vibe (launched in January 2015); launch of CGM Share receiver (early March 2015), new Gen 5 system (expected FDA approval by yearend); and t:slim G4 (expected in 4Q15).
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 $63.34 yesterday.
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