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Fly News Breaks for February 8, 2016
DXCM
Feb 8, 2016 | 07:25 EDT
Baird analyst Jeff Johnson downgraded DexCom to Neutral following meetings last week at the 2016 Advanced Technologies and Treatments for Diabetes, or ATTD, meeting. The analyst has heard for the second time in the past month that Medtronic (MDT) is likely to launch its 670G pump in the U.S. early next year, basically skipping the 640G launch. Johnson believes it will be harder for DexCom to convert Medtronic patients next year and incrementally puts the company's growth at ricks over the next 12-24 months. The analyst lowered his price target on DexCom shares to $74 from $100.