Wells Fargo raised the firm’s price target on DexCom to $145 from $136 and keeps an Overweight rating on the shares after catching up with the company. DexCom indicated that Q1 consensus revenue of $913M is appropriate, and that G7 15-day not targeted for 2024 launch. The firm also notes that the company expects to be competitive with Stelo in monthly cost to patient in its cash pay model. DexCom noted there is some potential for eventual price pressure to manufacturers from the Office of Inspector General CGM cost evaluation in the DME setting.
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Read More on DXCM:
- DexCom sees FY24 revenue $4.15B-$4.35B, consensus $4.32B
- DexCom sees FY23 revenue $3.62B, consensus $3.59B
- DexCom reports preliminary Q4 revenue $1.03B, consensus $1.01B
- DexCom price target raised to $150 from $125 at BTIG
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