DexCom, Inc. (NASDAQ:DXCM) reported better-than-expected third-quarter results on Thursday.
DexCom reported quarterly earnings of 45 cents per share, which beat the analyst consensus estimate of 43 cents. Quarterly revenue came in at $994.2 million which beat the analyst consensus estimate of $990.71 million and is an increase over sales of $975 million from the same period last year.
DexCom also announced Teri Lawver, executive vice president and chief commercial officer, will retire at the end of the year. Lawver will continue as a special advisor to Dexcom through early 2025 and Kevin Sayer, chairman, president and CEO, will assume leadership of the commercial organization as the company conducts a global search for a new chief commercial officer.
DexCom shares fell 1.6% to trade at $73.68 on Friday.
These analysts made changes to their price targets on DexCom following earnings announcement.
- Wells Fargo analyst Larry Biegelsen maintained DexCom with an Overweight and raised the price target from $80 to $90.
- Leerink Partners analyst Mike Kratky maintained DexCom with an Outperform and lowered the price target from $90 to $87.
- JP Morgan analyst Robbie Marcus maintained the stock with a Neutral and raised the price target from $75 to $85.
- Oppenheimer analyst Steven Lichtman maintained DexCom with an Outperform and lowered the price target from $115 to $105.
- RBC Capital analyst Shagun Singh maintained the stock with an Outperform and lowered the price target from $120 to $115.
- Bernstein analyst Lee Hambright maintained DexCom with an Outperform and raised the price target from $82 to $86.
- Raymond James analyst Jayson Bedford maintained DexCom with a Strong Buy and lowered the price target from $115 to $99.
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