After attending the annual American Diabetes Association meeting over the weekend, William Blair analyst Margaret Kaczor said she is more confident that the rate of adoption of CGM and pump technologies is picking up traction, with DexCom (DXCM) and Insulet (PODD) well positioned to benefit from the trend and hit or exceed estimates. Kaczor, who has an Outperform rating on DexCom, said she is aware of the uncertainty that Libre adds to the marketplace, though she is a "firm believer" in the category and the ability for multiple players to win. The long-term potential market remains large, she contends, adding that the company's initial start to 2018 suggests its fundamentals have been generally unaffected by competitive launches. She has an Outperform rating on DexCom shares.

Canaccord analyst William Plovanic raised the firm's price target on DexCom to $145 from $144 and keeps a Buy rating on the shares. The firm said they reported a slight;ly better than expected Q1 as the company raised the low-end and mid-point of its revenue guidance and reiterated its adjusted GM/OM/EBITDA margins for 2024.

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Pre-earnings options volume in DexCom is 11.4x normal with calls leading puts 11:2. Implied volatility suggests the market is anticipating a move near 5.8%, or $8.05, after results are released. Median move over the past eight quarters is 5.4%.