DexCom (DXCM) Posts Solid Preliminary Q4 and 2020 Revenues
DexCom Inc. DXCM recently released preliminary fourth-quarter and full-year 2020 revenue results.
Per the preliminary announcement, DexCom — the leader in continuous glucose monitoring (CGM) — anticipates fourth-quarter 2020 revenues to meet or exceed $567 million (up 23% from the year-ago quarter).
In fact, U.S. revenues are projected to be around $451 million, reflecting growth of 20% from the prior-year quarter. Further, international revenues are anticipated to be about $116 million (up 33% from the year-ago quarter).
Total preliminary revenues for 2020 is projected to meet or cross $1.93 billion (more than 30% higher compared with the year-ago period).
The company is scheduled to report fourth-quarter and full-year financial results on Feb 11.
Highlights
Per management, DexCom showed strength and resilience despite the challenging environment in 2020. The company managed to exhibit revenue growth of approximately $450 million over 2019, while taking several crucial steps to augment prospects in future.
2021 Guidance
Presently, DexCom projects total revenues in the range of around $2.21-$2.31 billion, which reflects anticipated growth of about 15-20% over 2020.
The above-mentioned growth outlook takes into account sensor volume growth fueled by increase in CGM awareness for people with Type 1 and Type 2 diabetes, sustained international expansion, overall market dynamics and shifting channel mix.
Notably, the company will furnish further details with respect to its 2021 financial outlook on the fourth-quarter earnings call.
Shares Down
Despite reporting upbeat preliminary fourth quarter and full-year revenues, DexCom’s shares fell 2.8% to $360.17 at the close of the session, following the announcement.
Shares of the Zacks Rank #4 (Sell) company lost 8.6% in the past three months, against the ’s growth of 5.8%.
Key Picks
Some better-ranked stocks from the broader medical space are McKesson Corporation , Patterson Companies, Inc. and IDEXX Laboratories, Inc. , each carrying a Zacks Rank #2 (Buy) at present. You can see
McKesson has a projected long-term earnings growth rate of 6.6%.
Patterson Companies has an estimated long-term earnings growth rate of 9.6%.
IDEXX Laboratories has a projected long-term earnings growth rate of 15.8%.
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