BMO Capital analyst Joanne Wuensch raised her price target on DexCom to $125 and kept her Outperform rating, saying the company delivered on high expectations in Q2. The analyst cites underlying volume increases, the outperformance of G5 system, and the contribution of the FDA’s new iCGM classification following the approval of Tandem’s Basal IQ with G6. Wuensch adds that the slight contraction in gross margins was related to incremental manufacturing lines costs to meet the strong demand.
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