Medical device company DexCom (NASDAQ:DXCM) will be reporting results this Thursday after the bell. Here’s what to look for.
DexCom beat analysts’ revenue expectations last quarter, reporting revenues of $1.19 billion, up 15% year on year. It was a satisfactory quarter for the company, with a beat of analysts’ EPS estimates but a slight miss of analysts’ organic revenue estimates.
Is DexCom a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting DexCom’s revenue to grow 11.5% year on year, slowing from the 15.2% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. DexCom rarely misses Wall Street’s revenue estimates.
Looking at DexCom’s peers in the healthcare equipment and supplies segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Intuitive Surgical delivered year-on-year revenue growth of 18.5%, beating analysts’ expectations by 2.5%, and Abbott Laboratories reported revenues up 13%, topping estimates by 0.7%. Intuitive Surgical traded down 14.1% following the results while Abbott Laboratories was up 12.8%.
Read our full analysis of Intuitive Surgical’s results here and Abbott Laboratories’s results here.
There has been positive sentiment among investors in the healthcare equipment and supplies segment, with share prices up 4.4% on average over the last month. DexCom is up 7.7% during the same time and is heading into earnings with an average analyst price target of $86.16 (compared to the current share price of $75.38).
ONE MORE THING: The $21 AI Application Stock Wall Street Forgot. While Wall Street obsesses over who’s building AI, one company is already using it to print money. And nobody’s paying attention.
AI chip stocks trade at ridiculous valuations. This company processes a trillion consumer signals monthly using AI and trades at a third of the price. The gap won’t last. The institutions will figure it out. You need to see this first. Read the FREE Report Before They Notice.