DexCom (DXCM): Cutting PT On Temporary Market Weakness - Wedbush
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Wedbush analyst, Tao Levy, reiterated his Outperform rating on shares of DexCom (NASDAQ: DXCM) but cut the price target to $100 from $112 due to near-term uncertainty that Medtronic’s product launches have created on near-term purchasing patterns of diabetes technology. However, the analyst remains optimistic that growth should improve in 2017.
As mentioned on both Tandem Diabetes (NASDAQ: TNDM) and DexCom’s earnings’ calls, the fourth quarter has started off weaker than expected for the aforementioned reason.
Shares of DexCom closed at $77.92 yesterday.
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