Cowen analyst Ryan Blicker raised his price target on DexCom to $300 from $250 as the company continues to fire on all cylinders and leaves plenty of room for upside. He believes investors underappreciate the magnitude of the earnings upside, and the non-intensive Type-2 progress being made in 2020. Blicker reiterated his 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%.