Piper defending DexCom ‘aggressively’ after Q4 preannouncement

After DexCom preannounced Q4 sale that beat expectations and gave top-line guidance of 15%-20% that was in-line with his expectations, but gave margin guidance that fell short of estimates, Piper Sandler analyst Matt O’Brien said he is defending the stock "aggressively" and encourages investors to buy shares, which are indicated to be down by a mid-single digit percentage in pre-market trading. While he expects a pullback in the stock today, he would view it as "an excellent buying opportunity for such a high quality franchise" as he thinks there is "still a ton of room for growth in the core diabetes franchise," said O’Brien, who has an Overweight rating and $150 price target on DexCom shares.