News
DexCom Stock Rockets Higher To Lead S&P 500 Gainers
Shares of DexCom ( DXCM )Â jumped more than 15% to pace the S&P 500 's advancers Friday, a day after the maker of glucose monitoring devices for people with diabetes reported better-than-expected quarterly revenue and announced a $750 million stock buyback program.
After the closing bell Thursday, San Diego-based DexCom reported first-quarter revenue that grew 12% year-over-year to $1.04 billion. Analysts surveyed by Visible Alpha expected $1.02 billion. Adjusted earnings per share of 32 cents missed estimates by a penny.
Dexcom affirmed its full-year outlook for revenue of $4.6 billion, adjusted operating margin of approximately 21%, and adjusted EBITDA margin of about 30%.
However, it lowered its 2025 projection for adjusted gross profit margin to approximately 62% because of "incremental costs related to near-term supply dynamics."
Friday's surge moved DexCom shares into positive territory for 2025. At around $81, they're still a bit off Visible Alpha's average analyst price target, which is currently a bit above $98.
Read the original article on Investopedia