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Why the Market Dipped But DexCom (DXCM) Gained Today
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In the latest trading session, DexCom (DXCM - Free Report) closed at $80.49, marking a +1.95% move from the previous day. The stock's change was more than the S&P 500's daily loss of 0.01%. Elsewhere, the Dow gained 0.04%, while the tech-heavy Nasdaq lost 0.25%.
Prior to today's trading, shares of the medical device company had lost 17.15% over the past month. This has lagged the Medical sector's loss of 2.91% and the S&P 500's loss of 1.6% in that time.
Investors will be eagerly watching for the performance of DexCom in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on October 26, 2023. The company is predicted to post an EPS of $0.34, indicating a 21.43% growth compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $936.02 million, indicating a 21.62% increase compared to the same quarter of the previous year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $1.23 per share and revenue of $3.55 billion. These totals would mark changes of +41.38% and +21.83%, respectively, from last year.
Investors should also take note of any recent adjustments to analyst estimates for DexCom. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. DexCom is holding a Zacks Rank of #4 (Sell) right now.
Valuation is also important, so investors should note that DexCom has a Forward P/E ratio of 64.14 right now. This expresses a premium compared to the average Forward P/E of 24.58 of its industry.
We can also see that DXCM currently has a PEG ratio of 1.49. 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 Medical - Instruments industry had an average PEG ratio of 2.04 as trading concluded yesterday.
The Medical - Instruments industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 153, positioning it in the bottom 40% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Why the Market Dipped But DexCom (DXCM) Gained Today
In the latest trading session, DexCom (DXCM - Free Report) closed at $80.49, marking a +1.95% move from the previous day. The stock's change was more than the S&P 500's daily loss of 0.01%. Elsewhere, the Dow gained 0.04%, while the tech-heavy Nasdaq lost 0.25%.
Prior to today's trading, shares of the medical device company had lost 17.15% over the past month. This has lagged the Medical sector's loss of 2.91% and the S&P 500's loss of 1.6% in that time.
Investors will be eagerly watching for the performance of DexCom in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on October 26, 2023. The company is predicted to post an EPS of $0.34, indicating a 21.43% growth compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $936.02 million, indicating a 21.62% increase compared to the same quarter of the previous year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $1.23 per share and revenue of $3.55 billion. These totals would mark changes of +41.38% and +21.83%, respectively, from last year.
Investors should also take note of any recent adjustments to analyst estimates for DexCom. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. DexCom is holding a Zacks Rank of #4 (Sell) right now.
Valuation is also important, so investors should note that DexCom has a Forward P/E ratio of 64.14 right now. This expresses a premium compared to the average Forward P/E of 24.58 of its industry.
We can also see that DXCM currently has a PEG ratio of 1.49. 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 Medical - Instruments industry had an average PEG ratio of 2.04 as trading concluded yesterday.
The Medical - Instruments industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 153, positioning it in the bottom 40% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.