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DXCM

DexCom

$48.93

3.485 (7.67%)

, ABT

Abbott

$53.36

-0.28 (-0.52%)

08:34
10/02/17
10/02
08:34
10/02/17
08:34

Dexcom expected to remain significant player in diabetes, says BMO Capital

After BMO Capital conducted a survey of 27 doctors, Joanne Wuensch, an analyst at the firm, says the data indicates that "DexCom's (DXCM) CGM devices should have their place in the diabetes treatment paradigm" following the FDA's approval of Abbott's (ABT) competing Libre product. Specifically, the survey shows that overall CGM prescriptions will increase, while DexCom will maintain a 34% share of type 1 CGM allocations and a 25% share of type 2 allocations, according to Wuensch, The analyst expects DexCom's revenue to rise 23% next year and 18% in 2019. She keeps an Outperform rating on the stock.

DXCM

DexCom

$48.93

3.485 (7.67%)

ABT

Abbott

$53.36

-0.28 (-0.52%)

  • 18

    Oct

DXCM DexCom
$48.93

3.485 (7.67%)

09/28/17
NORL
09/28/17
DOWNGRADE
Target $60
NORL
Market Perform
Dexcom downgraded to Market Perform from Outperform at Northland
Northland analyst Suraj Kalia downgraded Dexom (DXCM) to Market Perform and cut its price target to $60 from $85 following the surprise PMA approval of Abbott's (ABT) Libre flash glucose monitor for a 10-day use. The analyst said Libre received a concomitant nonadjunctive to fingersticks label, which came as a surprise, and removes a key competitive advantage for Dexcom.
09/28/17
WBLR
09/28/17
NO CHANGE
WBLR
Outperform
William Blair sees Dexcom retaining advantage over Abbott
William Blair analyst Margaret Kaczor says that while she didn't think Abbott's (ABT) Libre Flash Glucose Monitoring device would receive a dosing claim given the product's "inferior accuracy," Libre still lacks DexCom's (DXCM) alerts and alarms that proactively protect the patient from glycemic excursions. Libre's dosing may shift the competitive dynamic "modestly in Abbott's favor versus Street expectations," but more importantly, its approval should be market expansive as it creates a new type of glucose monitoring category in the United States, Kaczor tells investors in a research note. The analyst believes DexCom will retain a "material technological and brand advantage." Further, the company has a "rich product pipeline" including its own 10-day G6 sensor that is nearing approval, the analyst adds. She keeps an Outperform rating on Dexcom. Kaczor thinks the stock, at last night's price between $55 and $56, adequately prices in risk of share loss in the category. Dexcom in premarket trading is down 29% to $47.93.
09/28/17
09/28/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Dexcom (DXCM) was downgraded to Market Perform from Outperform at Raymond James and Northland and to Neutral from Overweight at JPMorgan. 2. Pier 1 Imports (PIR) downgraded to Hold from Buy at Loop Capital with analyst Anthony Chukumba saying near-term visibility will remain low as investors await management's new turnaround plan and the retailer's profitability will remain under pressure due to increased competition. 3. trivago (TRVG) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Brian Nowak saying he believes online travel agencies Priceline (PCLN) and Expedia (EXPE) are reducing their spending with the company, which he sees making comparables tough until the second half of next year. 4. AutoNation (AN) downgraded to Neutral from Positive at Susquehanna. 5. Bunge (BG) and Archer Daniels (ADM) were downgraded to Neutral from Buy at Citi. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/29/17
LEER
09/29/17
NO CHANGE
Target $57
LEER
Outperform
Dexcom shares oversold after dropping 33%, says Leerink
Leerink analyst Danielle Antalffy says her analysis confirms shares of Dexcom (DXCM) are oversold after yesterday's 33% pullback. Pricing pressure following Abbott's (ABT) continuous glucose monitor could be less bad than feared, Antalffy tells investors in a research note. She believes payers assign at least some incremental value to Dexcom's alerts/alarms and the ability to prevent catastrophic hypoglycemic events. It's possible, if not likely, that payers continue to pay for Dexcom sensors at current $10 per day levels, the analyst contends. She believes the stock at current levels provides an attractive entry point. Antalffy lowered her price target for Dexcom to $57 from $85 and keeps an Outperform rating on the name.
ABT Abbott
$53.36

-0.28 (-0.52%)

09/28/17
COWN
09/28/17
NO CHANGE
Target $64
COWN
Outperform
Dexcom price target lowered to $64 from $90 at Cowen
Cowen analyst Doug Schenkel lowered his price target on Dexcom (DXCM) to $64 from $90 and lowered his estimates to reflect the approval of the Abbott (ABT) Libre, with a dosing claim, at least a year earlier than expected. The claim is important because it is a precursor for CMS reimbursement, said Schenkel. He keeps his Outperform rating on Dexcom pending additional details and based on the magnitude of its glucose monitoring opportunity.

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PKD

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RSLS

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BOX

Box

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ALDX

Aldeyra

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GLRE

Greenlight Capital Re

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RVI

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