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Dexcom dips after hours despite Street-beating Q1, raised guidance

April 29, 2021 By Sean Whooley

Dexcom updated logoDexcom (NSDQ:DXCM) shares took a hit after hours today despite first-quarter results that beat the consensus forecast.

DXCM shares were down -5.2% at $400 per share after hours. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was down -0.8%.

The San Diego-based glucose monitoring technology developer posted profits of $40.3 million, or 41¢ per share, on sales of $505 million for the three months ended March 31, 2021, more than doubling its bottom-line on sales growth of 24.7%.

Adjusted to exclude one-time items, earnings per share were 33¢, 3¢ ahead of Wall Street, where analysts were looking for sales of $484.2 million.

“Dexcom is off to a great start in 2021, including several key advancements of our strategic priorities in the first quarter,” Dexcom chairman, president & CEO Kevin Sayer said in a news release. “Based on the strength of our first-quarter results and the significant market opportunity ahead of us, we are pleased to raise our 2021 revenue guidance.”

Dexcom said it now expects to log full-year 2021 revenues of between approximately $2.26 billion and $2.36 billion, representing growth between 17% and 22% year-over-year.

Filed Under: Business/Financial News, Diabetes, Drug-Device Combinations, Featured, MassDevice Earnings Roundup Tagged With: Dexcom

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About Sean Whooley

Sean Whooley is an associate editor who mainly produces work for MassDevice, Medical Design & Outsourcing and Drug Delivery Business News. He received a bachelor's degree in multiplatform journalism from the University of Maryland, College Park. You can connect with him on LinkedIn or email him at swhooley@wtwhmedia.com.

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