Voya Financial (VOYA) Q3 Earnings and Revenues Top Estimates

DexCom (DXCM) closed the most recent trading day at $114.63, moving -1.39% from the previous trading session. This change lagged the S&P 500’s 1.11% loss on the day. Elsewhere, the Dow lost 0.85%, while the tech-heavy Nasdaq added 0.1%.

Heading into today, shares of the medical device company had gained 3.2% over the past month, lagging the Medical sector’s gain of 3.73% and outpacing the S&P 500’s loss of 2.19% in that time.

Investors will be hoping for strength from DexCom as it approaches its next earnings release. In that report, analysts expect DexCom to post earnings of $0.26 per share. This would mark year-over-year growth of 52.94%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $805.5 million, up 15.37% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.79 per share and revenue of $2.9 billion. These totals would mark changes of +17.91% and +18.45%, respectively, from last year.

Investors should also note any recent changes 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.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.68% lower. DexCom is currently a Zacks Rank #3 (Hold).

Looking at its valuation, DexCom is holding a Forward P/E ratio of 146.8. This valuation marks a premium compared to its industry’s average Forward P/E of 28.5.

Meanwhile, DXCM’s PEG ratio is currently 4.46. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock’s expected earnings growth rate. DXCM’s industry had an average PEG ratio of 2.17 as of yesterday’s close.

The Medical – Instruments industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 96, which puts it in the top 39% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual 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.

To follow DXCM in the coming trading sessions, be sure to utilize Zacks.com.

Zacks Top 10 Stocks for 2023

In addition to the investment ideas discussed above, would you like to know about our 10 top picks for the entirety of 2023? From inception in 2012 through November, the Zacks Top 10 Stocks portfolio has tripled the market, gaining an impressive +884.5% versus the S&P 500’s +287.4%.

Now our Director of Research is combing through 4,000 companies covered by the Zacks Rank to handpick the best 10 tickers to buy and hold. Don’t miss your chance to get in on these stocks when they’re released on January 3.

Be First to New Top 10 Stocks >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

DexCom, Inc. (DXCM) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Image and article originally from www.nasdaq.com. Read the original article here.

By Zacks