Shares of DexCom (NASDAQ: DXCM) were up in morning trading on Friday after the Centers for Medicare and Medicaid Services (CMS) issued a proposal to determine local coverage related to continuous glucose monitoring (CGM) devices.
This proposal could stand to benefit DexCom as the company is focused on developing, manufacturing, and producing continuous glucose monitoring systems for diabetes management.
Is DexCom a Good Stock to Buy?
Wall Street analysts remain bullish about DexCom with a Strong Buy consensus rating based on 13 Buys and one Hold.
The average price target for DXCM stock is $99.77 with a downside potential of 3.4% at current levels, implying that the stock is overvalued at current levels.
