DexCom selloff on Apple article should be bought, says Oppenheimer

Oppenheimer is a buyer of DexCom (DXCM) on weakness from a Bloomberg report on the Apple (AAPL) development program for a non-invasive glucose sensor. Apple’s efforts are not new and the article notes there is "still years of work" ahead, the analyst tells investors in a research note. In addition, the early iteration of Apple’s device was table-top with the goal of development now to create a prototype that would still be about the size of an iPhone that could be strapped to a person’s bicep, the firm points out. Opco assumes a device like this would be more consumer-like with potential use also in pre-diabetes. The firm also sees no impact from the article on continuous glucose monitoring pump partners Insulet (PODD) and Tandem Diabetes (TNDM). The analyst keeps an Outperform rating on DexCom.