Brean Murray Carret Raises Price Target on DexCom (DXCM), Strong Potential with Gen4 and SweetSpot
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Price: $89.75 -1.89%
Rating Summary:
32 Buy, 7 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
32 Buy, 7 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Brean Murray Carret & Co. is maintaining its Buy rating on shares of DexCom (NASDAQ: DXCM), while raising its price target by $1 to $13.50.
The company reported solid Q4 results as gross margin showed signs of expansion and sales were inline. The firm notes the higher than expected R&D costs represents rapid product acceleration within the company's pipeline.
DXCM noted the completion of the Gen4 sensor pivotal trail, something the firm believes happened sooner than many originally anticipated.
The SweetSpot acquisition is also looked at as strong positive for the company as it allows the company to remotely monitor device performance and utilization.
For Q1 and FY12, the firm forecasts EPS ($0.20) and ($0.60). Brean Murray Carret also lowered its FY13 estimate from ($0.26) to ($0.36).
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 $11.19 yesterday.
The company reported solid Q4 results as gross margin showed signs of expansion and sales were inline. The firm notes the higher than expected R&D costs represents rapid product acceleration within the company's pipeline.
DXCM noted the completion of the Gen4 sensor pivotal trail, something the firm believes happened sooner than many originally anticipated.
The SweetSpot acquisition is also looked at as strong positive for the company as it allows the company to remotely monitor device performance and utilization.
For Q1 and FY12, the firm forecasts EPS ($0.20) and ($0.60). Brean Murray Carret also lowered its FY13 estimate from ($0.26) to ($0.36).
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 $11.19 yesterday.
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