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DexCom (DXCM) Advances While Market Declines: Some Information for Investors
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In the latest trading session, DexCom (DXCM - Free Report) closed at $125.45, marking a +0.8% move from the previous day. This move outpaced the S&P 500's daily loss of 0.56%. Elsewhere, the Dow saw a downswing of 0.25%, while the tech-heavy Nasdaq depreciated by 0.59%.
The the stock of medical device company has risen by 0.95% in the past month, lagging the Medical sector's gain of 3.8% and the S&P 500's gain of 1.2%.
Market participants will be closely following the financial results of DexCom in its upcoming release. The company plans to announce its earnings on February 8, 2024. It is anticipated that the company will report an EPS of $0.43, marking a 26.47% rise compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $1.03 billion, indicating a 26.35% growth compared to the corresponding quarter of the prior year.
It is also important to note the recent changes to analyst estimates for DexCom. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 0.49% rise in the Zacks Consensus EPS estimate. DexCom is currently sporting a Zacks Rank of #3 (Hold).
Looking at valuation, DexCom is presently trading at a Forward P/E ratio of 72.89. This expresses a premium compared to the average Forward P/E of 25.93 of its industry.
We can also see that DXCM currently has a PEG ratio of 2.17. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Medical - Instruments industry stood at 2.23 at the close of the market yesterday.
The Medical - Instruments industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 152, which puts it in the bottom 40% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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DexCom (DXCM) Advances While Market Declines: Some Information for Investors
In the latest trading session, DexCom (DXCM - Free Report) closed at $125.45, marking a +0.8% move from the previous day. This move outpaced the S&P 500's daily loss of 0.56%. Elsewhere, the Dow saw a downswing of 0.25%, while the tech-heavy Nasdaq depreciated by 0.59%.
The the stock of medical device company has risen by 0.95% in the past month, lagging the Medical sector's gain of 3.8% and the S&P 500's gain of 1.2%.
Market participants will be closely following the financial results of DexCom in its upcoming release. The company plans to announce its earnings on February 8, 2024. It is anticipated that the company will report an EPS of $0.43, marking a 26.47% rise compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $1.03 billion, indicating a 26.35% growth compared to the corresponding quarter of the prior year.
It is also important to note the recent changes to analyst estimates for DexCom. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 0.49% rise in the Zacks Consensus EPS estimate. DexCom is currently sporting a Zacks Rank of #3 (Hold).
Looking at valuation, DexCom is presently trading at a Forward P/E ratio of 72.89. This expresses a premium compared to the average Forward P/E of 25.93 of its industry.
We can also see that DXCM currently has a PEG ratio of 2.17. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Medical - Instruments industry stood at 2.23 at the close of the market yesterday.
The Medical - Instruments industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 152, which puts it in the bottom 40% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.