UPDATE: Oppenheimer Reiterates Perform Rating, Raises PT on DexCom on 4Q12 Revenues

In a report published Friday, Oppenheimer reiterated its Perform rating on DexCom

, and slightly raised its price target from $14.00 to $15.00. Oppenheimer noted, “DexCom's 4Q12 revenues of $33M included $31.7M in product revenues (in line with pre-announcement). Management reiterated 2013 product revenue guidance of $120-130M. The call centered on progress with the launch of the new G4 Platinum and timing of pipeline opportunities. Overall, G4 initial demand appears solid. With G4 expectations already appropriately high and as we monitor the progress of competitors, we rate DXCM shares Perform. Pipeline progress, particularly potential upside from a pediatric claim or improved visibility on a US in-hospital monitor with EW, could make us more constructive at current levels.” DexCom closed on Thursday at $14.13.