Buy DexCom (DXCM) into the American Diabetes Association (ADA) Meeting - BofA

BofA/Merrill Lynch analyst Travis Steed reiterated a Buy rating and $162.00 price target on DexCom (NASDAQ: DXCM) suggesting investors add to positions ahead of the American Diabetes Association (ADA) meeting this weekend.

The analyst notes that the company doesn't have any major data releases that rival TNDM’s Control IQ pivotal trial but an FDA approval for ABT’s Libre 2.0 product could come any time and potentially remove an overhang. He also expects ADA to be bullish on continuous glucose monitoring (CGM) in general stating "CGM is becoming a bigger presence on the podium with even more discussion outside the core market (pregnancy, emergency rooms, inpatient settings, type 2)".

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 $121.00 yesterday.

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