DexCom Gains Pre-Market Traction on Financial Figures, Bullish Views
- July 28th, 2023
- 429 views
DexCom, Inc. (Nasdaq: DXCM) delivered strong results in the second quarter of 2023, with earnings per share (EPS) of $0.34 and revenues of $871.30 million, surpassing the consensus estimate of $0.23 EPS on revenue of $841.62 million.
In response to the robust performance, the company raised its fiscal full-year 2023 revenue guidance to between $3.50 billion to $3.55 billion, up from the previous range of $3.40 billion to $3.52 billion. Analysts had expected revenue of $3.50 billion for the period.
Furthermore, investment firms Baird and Raymond James upheld their positive outlook on DexCom. Baird maintained an Outperform rating and raised the price target from $145 to $153, while Raymond James maintained a Strong Buy rating and increased the price target from $140 to $154.
In pre-market trading, $DXCM surged by $4.95 (+3.83%) to reach $134.31.
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