Piper Jaffray analyst JP Kim raised his price target on DexCom to $173 and kept his Overweight rating after its “solid” Q1 results. The analyst notes that while the company’s Q1 gross margin of 60% was below his expected 64.5% amid capacity expansion investments, he sees DexCom well positioned for the “inflection” in the Continuous Glucose Monitoring market as it converts away from Blood Glucose Meters. Kim also cites the management’s discussion of pharmacy contracts having a 2-3 year time span and expects the company’s G7 system tracking to launch next year to be competitive “at any price point.”
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.