Continuous Glucose Monitor Maker Dexcom's Q4 Profit Triples On Volume Growth And New Customer Additions
Portfolio Pulse from Vandana Singh
Dexcom Inc (NASDAQ:DXCM) reported a significant increase in Q4 2023 earnings, with sales up 27% Y/Y to $1.03 billion and profits nearly tripling to $256.3 million. The growth was driven by volume growth and new customer additions. Adjusted EPS was $0.50, surpassing the consensus of $0.43. The company projects FY 2024 revenues of $4.15 billion-$4.35 billion, with growth primarily from insulin-intensive patients. William Blair reiterates an Outperform rating, despite a 2.40% premarket drop in shares.
February 09, 2024 | 2:17 pm
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Dexcom Inc reported a significant increase in Q4 2023 earnings, with sales up 27% Y/Y to $1.03 billion and profits nearly tripling to $256.3 million. The company projects FY 2024 revenues of $4.15 billion-$4.35 billion. William Blair reiterates an Outperform rating.
The significant increase in Q4 earnings and the positive outlook for FY 2024, along with the reiteration of an Outperform rating by William Blair, suggest a strong short-term positive impact on DXCM's stock price. However, the premarket drop indicates market reactions can be volatile.
CONFIDENCE 90
IMPORTANCE 95
RELEVANCE 100