Raymond James analyst Jayson Bedford said earlier that he learned Liberty Medical, DexCom's sole Medicare supplier, temporarily stopped processing new Medicare orders late last week. While interest and demand is high, Liberty is waiting for final Medicare coverage guidelines to be put in place before it starts processing new orders again, Bedford told investors in a research note, citing his research. The analyst heard that the coverage uncertainty could be resolved in the following few weeks with an update from Medicare. He does not expect Dexcom to change its guidance when reporting Q1, but believes meaningful upside will now not occur until the second half of 2017. Bedford keeps an Outperform rating on the shares. Dexcom is down 14c to $79.46 in early trading.

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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%.