DexCom price target lowered to $90 from $100 at Piper Sandler

Piper Sandler analyst Matt O’Brien lowered the firm’s price target on DexCom (DXCM) to $90 from $100 and keeps an Overweight rating on the shares. The firm notes the company reported Q1 results, which were good. The domestic business was much better than we had modeled, while international was a little light. Overall, Piper cannot ring the all clear bell for DexCom yet, but it believes enough of the concerns are falling away from the story to own the stock here.