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Strength Seen in DexCom (DXCM): Can Its 6.5% Jump Turn into More Strength?
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DexCom (DXCM - Free Report) shares soared 6.5% in the last trading session to close at $106.88. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 9% loss over the past four weeks.
DexCom recorded a strong price increase after it allayed concerns that popular weight-loss drugs, like Wegovy, would tamp down usage of its diabetes devices. Per a company presentation on Sep 5, Dexcom confirmed that across all segments of patients with type 2 diabetes, use of continuous glucose monitors increased after beginning treatment with GLP-1 drugs.
This medical device company is expected to post quarterly earnings of $0.34 per share in its upcoming report, which represents a year-over-year change of +21.4%. Revenues are expected to be $936.02 million, up 21.6% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For DexCom, the consensus EPS estimate for the quarter has been revised 4.3% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on DXCM going forward to see if this recent jump can turn into more strength down the road.
DexCom belongs to the Zacks Medical - Instruments industry. Another stock from the same industry, Integer (ITGR - Free Report) , closed the last trading session 0.7% lower at $80.74. Over the past month, ITGR has returned -8.5%.
For Integer, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.07. This represents a change of +12.6% from what the company reported a year ago. Integer currently has a Zacks Rank of #2 (Buy).
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Strength Seen in DexCom (DXCM): Can Its 6.5% Jump Turn into More Strength?
DexCom (DXCM - Free Report) shares soared 6.5% in the last trading session to close at $106.88. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 9% loss over the past four weeks.
DexCom recorded a strong price increase after it allayed concerns that popular weight-loss drugs, like Wegovy, would tamp down usage of its diabetes devices. Per a company presentation on Sep 5, Dexcom confirmed that across all segments of patients with type 2 diabetes, use of continuous glucose monitors increased after beginning treatment with GLP-1 drugs.
This medical device company is expected to post quarterly earnings of $0.34 per share in its upcoming report, which represents a year-over-year change of +21.4%. Revenues are expected to be $936.02 million, up 21.6% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For DexCom, the consensus EPS estimate for the quarter has been revised 4.3% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on DXCM going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
DexCom belongs to the Zacks Medical - Instruments industry. Another stock from the same industry, Integer (ITGR - Free Report) , closed the last trading session 0.7% lower at $80.74. Over the past month, ITGR has returned -8.5%.
For Integer, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.07. This represents a change of +12.6% from what the company reported a year ago. Integer currently has a Zacks Rank of #2 (Buy).