UBS Reiterates Buy Rating on DexCom (DXCM) Following Over 10% Selloff

UBS analyst Danielle Antalffy reiterated a Buy rating and $106.00 price target on DexCom (NASDAQ: DXCM).

The analyst commented, "We are defending DXCM here given today’s [Friday] sell off on a concern around a recent increase in MAUDE events/injuries in recent months reported for G7 that is exacerbating the bear thesis that G7 is a less reliable sensor than prior versions/ABT’s Libre. Based on our physician checks, conversations with management, and recent surveys, we a) Do not believe there is a perception amongst clinicians or patients that there’s any meaningful difference in reliability/quality between DXCM/ABT and b) Continue to believe we are in a rapid ramp to CGM becoming standard of care across all diabetics."

For an analyst ratings summary and ratings history on DexCom click here. For more ratings news on DexCom click here.

Shares of DexCom closed at $67.45 yesterday.

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