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.
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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.
