Canaccord analyst Kyle Rose raised his price target on DexCom to $185 from $160 following stellar Q1 results. The analyst cited strong growth in sensor volumes, increased global adoption of CGM, and the ongoing uptake of the G6. He noted the company is on track to double G6 production capacity by the end of 2019 while the company continues to invest in the G7 which remains on track for a limited launch in late 2020. Rose reiterated his Buy rating on DexCom shares.
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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%.