Jefferies Reiterates Buy On DexCom, Raises PT To $19.50 (DXCM)

Jefferies reiterated its Buy rating on DexCom (NASDAQ: DXCM), but raised price target on its shares from $17 to $19.50 in a research report published today.

In the report, Jefferies states, "DexCom reported 1Q revenues of $14.2mn which was slightly shy of street forecasts, but earnings were in line with estimates at ($0.19). New patient adds remained strong for the quarter and the softness appears largely driven by lighter sensor utilization as patients work through their yearly deductibles. The best in class technology and strong revenue growth keep us at a Buy."

In today's trading, DexCom lost 0.06% to stand at $16.49.