Cowen analyst Doug Schenkel calls Liberty Medical, the current sole supplier of DexCom's G5 for Medicare patients, no longer accepting new patient orders a "speed bump." The analyst expects a resolution over the next few months and an update from Dexcom on this afternoon's earnings conference call. He continues to view the company as well positioned relative to Q1 and 2017 revenue expectations. The analyst keeps an Outperform rating on Dexcom shares with a $90 price target.
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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%.