DexCom (DXCM) Reports Revenue In-Line with Pre-Release; Piper Jaffray Reiterates Overweight

Piper Jaffray reiterated an Overweight rating on DexCom (NASDAQ: DXCM), and raised the price target to $107.00 (from $103.00), following the company's 3Q15 earnings report. DXCM reported revenue of $105.2M, in-line with its pre-release on October 15. 3Q results do not include $800K of revenue deferrals to 4Q related to upgrade programs for the recently launched G5 platform.

Analyst Brooks West commented, "DXCM reported 3Q15 revenue of $105.2M, in-line with its pre-release on October 15 and representing torrid growth of 52% against a tough 61% y/y comp. 3Q results do not include $800K of revenue deferrals to 4Q related to upgrade programs for the recently launched G5 platform. FY15 revenue guidance was raised to "greater than $375M" which was the high end of prior guidance, although recent growth trends would point to a much higher result. In particular, we note that the recent G5 launch only marginally impacted 3Q and should continue to ramp through 4Q and into 2016, along with continued penetration of the pediatric market. Management will continue to accelerate investment and prioritize market share expansion and patient awareness initiatives - a strategy we view favorably. Reiterate OW, raising PT to $107 from $103."

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 $87.05 yesterday.

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