|Over a week ago|
Abbott approval narrows competitive gap to DexCom, says Piper Sandler » 09:1006/1506/15/20
DXCM, ABT, TNDM, PODD
The FDA this morning…
The FDA this morning announced the 510K approval of Abbott's (ABT) Freestyle Libre 2.0 with the integrated continuous glucose monitoring designation. The device has Bluetooth technology and provides patients with real-time alerts on both the hypo and hyper side, Piper Sandler analyst Matt O'Brien tells investors in a research note. However, the alarm functionality is not as robust as DexCom's (DXCM) offering as the alarms do not appear to have predictive features, adds O'Brien. The analyst, however, believes Abbott has narrowed the competitive gap to DexCom. It will take time for Abbott to work with Tandem Diabetes (TNDM) and Insulet (PODD) to fully integrate the iCGM sensor into the respective AID systems, says O'Brien. He still remains positive on DexCom's competitive positioning given the more accurate sensor and current ability to integrate with AID systems. DexCom in premarket trading is down 1% to $365.50.
Tandem Diabetes the 'standout' in Piper endocrinologist survey » 05:0106/1006/10/20
TNDM, DXCM, PODD
Piper Sandler analyst…
Piper Sandler analyst Matt O'Brien surveyed 30 endocrinologists, who collectively treat over 26,000 diabetic patients annually, on current and future technologies in the diabetes space. Overall, the responses indicated that use of continuous glucose monitoring and insulin pumps is likely to continue to "march higher at a robust clip," with uptake in the type-2 market in-line to better than modeled for both pumps and monitors, O'Brien tells investors in a research note. Tandem Diabetes (TNDM) was the "standout" from the survey, followed by DexCom (DXCM), with Insulet (PODD) a "bit of laggard" in the out-years, adds the analyst. O'Brien says the survey pointed to "solid" new patient growth for the diabetes pure-plays in 2020 despite COVID-19.
DexCom price target raised to $430 from $360 at Cowen » 07:2906/0906/09/20
Cowen analyst Ryan…
Cowen analyst Ryan Blicker raised the firm's price target on DexCom to $430 from $360 and keeps an Outperform rating on the shares. The analyst thinks its larger TAM is coming into view over the next 12-24 months, that causes him to raise his estimates, and increases the visibility and confidence that double digit revenue growth can be maintained for the next 10 years.
DexCom price target raised to $440 from $361 at Citi » 07:3406/0306/03/20
Citi analyst Joanne…
Citi analyst Joanne Wuensch raised the firm's price target on DexCom to $440 from $361 and reiterates a Buy rating on the shares. A survey of 30 physicians demonstrates that while new patient additions are likely to slow during COVID-19, demand for new technology in diabetes is significant, including Tandem's Control IQ and Dexcom's G6, Wuensch tells investors in a research note. Diabetes stocks are up almost 40% year-to-date on average, but there is "more to come in this MedTech segment, underscored by clinical data," says the analyst.
|Over a month ago|
DexCom price target raised to $450 from $375 at Piper Sandler » 05:1405/2705/27/20
Piper Sandler analyst…
Piper Sandler analyst Matt O'Brien raised the firm's price target on DexCom to $450 from $375 and keeps an Overweight rating on the shares. The current premium for DexCom implies that the company successfully enters the non-intensive, inpatient, and gestational markets, O'Brien tells investors in a research note. However, there is "plenty of upside" remaining and DexCom is "building the necessary foundation for sustainable top-line growth over the next several years," adds the analyst. "While the price of admission is not cheap, we think DexCom is a must own Med Tech name," says O'Brien.
White House statement on President's action to protect seniors with diabetes » 17:3305/2605/26/20
DXCM, TNDM, MDT, NVO, JNJ, LLY, SNY
The White House said, in…
The White House said, in part, on the press call, on the President's action to protect seniors with diabetes: "To give you a sense of the scope of what that means: Roughly one in three Medicare beneficiaries has diabetes, and millions use one or more of the common forms of insulin. Seniors who sign up for these new plans will have no more than a 35-dollar co-pay for a month's supply of all types of insulin. That results in approximately a 66 percent, or two-thirds, reduction in out-of-pocket costs. The result: For the third year in a row, the average basic premium for Medicare Part D prescription drug prices has declined, saving beneficiaries $1.9 billion in premiums over time. Three years into the Trump administration, third consecutive year that these Medicare Part D premiums have declined. That's called causation, not coincidence. We continue to deliver creative solutions that result in historic agreements." Companies that may be impacted by this announcement include DexCom (DXCM), Tandem Diabetes (TNDM), Medtronic (MDT) Novo Nordisk (NVO), Johnson & Johnson (JNJ), Eli Lilly (LLY) and Sanofi (SNY). Reference Link
DexCom initiated with an Equal Weight at Wells Fargo » 06:2605/1405/14/20
Wells Fargo analyst Larry…
Wells Fargo analyst Larry Biegelsen initiated coverage of DexCom with an Equal Weight rating and $420 price target. While DexCom's core continuous glucose monitoring market will be one of the fastest growing major MedTech markets over the next five years and consensus estimates offer upside potential, the current valuation reflects some of the potential sources of upside, Biegelsen tells investors in a research note.
DexCom to replace Allergan in S&P 500 at open on 5/12 » 04:5505/1205/12/20
AbbVie (ABBV) is…
AbbVie (ABBV) is acquiring Allergan (AGN) in a transaction expected to be completed soon pending final conditions.
DexCom announces $850M of convertible senior notes due 2025 07:1105/1105/11/20
DexCom participates in a conference call hosted by Morgan Stanley » 09:2505/0805/08/20
Medical Technology Analyst Lewis holds a conference call with Chairman & CEO Sayer on May 8 at 10 am hosted by Morgan Stanley.