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DexCom (DXCM) Posts Solid Preliminary Q4 and 2020 Revenues
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DexCom Inc. (DXCM - Free Report) recently released preliminary fourth-quarter and full-year 2020 revenue results.
Per the preliminary announcement, DexCom — the leader in continuous glucose monitoring (CGM) — anticipates fourth-quarter 2020 revenues to meet or exceed $567 million (up 23% from the year-ago quarter).
In fact, U.S. revenues are projected to be around $451 million, reflecting growth of 20% from the prior-year quarter. Further, international revenues are anticipated to be about $116 million (up 33% from the year-ago quarter).
Total preliminary revenues for 2020 is projected to meet or cross $1.93 billion (more than 30% higher compared with the year-ago period).
The company is scheduled to report fourth-quarter and full-year financial results on Feb 11.
Highlights
Per management, DexCom showed strength and resilience despite the challenging environment in 2020. The company managed to exhibit revenue growth of approximately $450 million over 2019, while taking several crucial steps to augment prospects in future.
2021 Guidance
Presently, DexCom projects total revenues in the range of around $2.21-$2.31 billion, which reflects anticipated growth of about 15-20% over 2020.
The above-mentioned growth outlook takes into account sensor volume growth fueled by increase in CGM awareness for people with Type 1 and Type 2 diabetes, sustained international expansion, overall market dynamics and shifting channel mix.
Notably, the company will furnish further details with respect to its 2021 financial outlook on the fourth-quarter earnings call.
Shares Down
Despite reporting upbeat preliminary fourth quarter and full-year revenues, DexCom’s shares fell 2.8% to $360.17 at the close of the session, following the announcement.
Shares of the Zacks Rank #4 (Sell) company lost 8.6% in the past three months, against the industry’s growth of 5.8%.
McKesson has a projected long-term earnings growth rate of 6.6%.
Patterson Companies has an estimated long-term earnings growth rate of 9.6%.
IDEXX Laboratories has a projected long-term earnings growth rate of 15.8%.
The Hottest Tech Mega-Trend of All
Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
Image: Bigstock
DexCom (DXCM) Posts Solid Preliminary Q4 and 2020 Revenues
DexCom Inc. (DXCM - Free Report) recently released preliminary fourth-quarter and full-year 2020 revenue results.
Per the preliminary announcement, DexCom — the leader in continuous glucose monitoring (CGM) — anticipates fourth-quarter 2020 revenues to meet or exceed $567 million (up 23% from the year-ago quarter).
In fact, U.S. revenues are projected to be around $451 million, reflecting growth of 20% from the prior-year quarter. Further, international revenues are anticipated to be about $116 million (up 33% from the year-ago quarter).
Total preliminary revenues for 2020 is projected to meet or cross $1.93 billion (more than 30% higher compared with the year-ago period).
The company is scheduled to report fourth-quarter and full-year financial results on Feb 11.
Highlights
Per management, DexCom showed strength and resilience despite the challenging environment in 2020. The company managed to exhibit revenue growth of approximately $450 million over 2019, while taking several crucial steps to augment prospects in future.
2021 Guidance
Presently, DexCom projects total revenues in the range of around $2.21-$2.31 billion, which reflects anticipated growth of about 15-20% over 2020.
The above-mentioned growth outlook takes into account sensor volume growth fueled by increase in CGM awareness for people with Type 1 and Type 2 diabetes, sustained international expansion, overall market dynamics and shifting channel mix.
Notably, the company will furnish further details with respect to its 2021 financial outlook on the fourth-quarter earnings call.
Shares Down
Despite reporting upbeat preliminary fourth quarter and full-year revenues, DexCom’s shares fell 2.8% to $360.17 at the close of the session, following the announcement.
Shares of the Zacks Rank #4 (Sell) company lost 8.6% in the past three months, against the industry’s growth of 5.8%.
Key Picks
Some better-ranked stocks from the broader medical space are McKesson Corporation (MCK - Free Report) , Patterson Companies, Inc. (PDCO - Free Report) and IDEXX Laboratories, Inc. (IDXX - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
McKesson has a projected long-term earnings growth rate of 6.6%.
Patterson Companies has an estimated long-term earnings growth rate of 9.6%.
IDEXX Laboratories has a projected long-term earnings growth rate of 15.8%.
The Hottest Tech Mega-Trend of All
Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>