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DexCom (DXCM) Gains But Lags Market: What You Should Know
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DexCom (DXCM - Free Report) closed the most recent trading day at $133.98, moving +0.23% from the previous trading session. The stock lagged the S&P 500's daily gain of 0.85%. Elsewhere, the Dow gained 0.14%, while the tech-heavy Nasdaq added 5.61%.
Heading into today, shares of the medical device company had gained 5.2% over the past month, outpacing the Medical sector's loss of 1.55% and the S&P 500's gain of 3.18% in that time.
Wall Street will be looking for positivity from DexCom as it approaches its next earnings report date. This is expected to be July 27, 2023. The company is expected to report EPS of $0.22, up 29.41% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $837 million, up 20.22% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.07 per share and revenue of $3.49 billion, which would represent changes of +22.99% and +20.08%, respectively, from the prior year.
Any recent changes to analyst estimates for DexCom should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.26% higher within the past month. DexCom currently has a Zacks Rank of #2 (Buy).
Looking at its valuation, DexCom is holding a Forward P/E ratio of 125.24. This valuation marks a premium compared to its industry's average Forward P/E of 31.91.
It is also worth noting that DXCM currently has a PEG ratio of 3.1. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Medical - Instruments industry currently had an average PEG ratio of 2.61 as of yesterday's close.
The Medical - Instruments industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 92, which puts it in the top 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow DXCM in the coming trading sessions, be sure to utilize Zacks.com.
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DexCom (DXCM) Gains But Lags Market: What You Should Know
DexCom (DXCM - Free Report) closed the most recent trading day at $133.98, moving +0.23% from the previous trading session. The stock lagged the S&P 500's daily gain of 0.85%. Elsewhere, the Dow gained 0.14%, while the tech-heavy Nasdaq added 5.61%.
Heading into today, shares of the medical device company had gained 5.2% over the past month, outpacing the Medical sector's loss of 1.55% and the S&P 500's gain of 3.18% in that time.
Wall Street will be looking for positivity from DexCom as it approaches its next earnings report date. This is expected to be July 27, 2023. The company is expected to report EPS of $0.22, up 29.41% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $837 million, up 20.22% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.07 per share and revenue of $3.49 billion, which would represent changes of +22.99% and +20.08%, respectively, from the prior year.
Any recent changes to analyst estimates for DexCom should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.26% higher within the past month. DexCom currently has a Zacks Rank of #2 (Buy).
Looking at its valuation, DexCom is holding a Forward P/E ratio of 125.24. This valuation marks a premium compared to its industry's average Forward P/E of 31.91.
It is also worth noting that DXCM currently has a PEG ratio of 3.1. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Medical - Instruments industry currently had an average PEG ratio of 2.61 as of yesterday's close.
The Medical - Instruments industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 92, which puts it in the top 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow DXCM in the coming trading sessions, be sure to utilize Zacks.com.