UPDATE: Jefferies & Company Reiterates Buy Rating, Lowers PT on DexCom

In a report published Friday, Jefferies & Company reiterated its Buy rating on DexCom

, but lowered its price target from $18.00 to $16.50. Jefferies noted, “DexCom released final 3Q revenues of $23.1mn after pre-announcing in early October with the G4 Platinum Sensor approval. The final 3Q numbers reflect a handful of one-time charges and adjustments; full year guidance was reiterated. The G4 and the subsequent pump combinations set the table for a good run.” DexCom closed on Thursday at $13.07.