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DexCom (DXCM) Posts Solid Preliminary Q4 and 2021 Revenues

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DexCom Inc. DXCM recently released preliminary fourth-quarter and full-year 2021 revenue results.
Per the preliminary announcement, DexCom — the leader in continuous glucose monitoring (CGM) — anticipates fourth-quarter 2021 revenues to be around $698 million (up 23% from the year-ago quarter). The Zacks Consensus Estimate for the fourth-quarter 2021 revenues is pegged at $692.6 million, indicating an improvement of 21.7% on a year-over-year basis.

U.S. revenues are projected to be around $517 million, suggesting growth of 15% from the prior-year quarter. International revenues are anticipated to be about $181 million (up 54% from the year-ago quarter). On an organic basis, international growth was about 41%.

Total preliminary revenues for 2021 are projected to be around $2.45 billion (more than 27% and 26% higher on a reported and organic basis, respectively, when compared with the year-ago period). The consensus mark for 2021 revenues currently stands at $2.44 billion, indicating a 26.8% growth from the previous year.

The company is scheduled to report fourth-quarter and full-year financial results on Feb 10.

Highlights

Per management, DexCom exhibited strength and resilience while expanding its global customer base in 2021. The company managed to deliver organic revenues that crossed the mid-point of its original projection by over $160 million while taking several crucial steps to augment prospects in the future.

The company is well-poised for another solid year as it enters 2022, which is highlighted by the introduction of its innovative G7 CGM System.

2022 Guidance

Presently, DexCom projects total revenues to be around $2.82-$2.94 billion, which reflects anticipated growth of about 15-20% over 2021. The consensus mark for 2022 revenues is currently pegged at $2.98 billion, indicating an improvement of 22.1% from the previous year.

The above-mentioned growth outlook takes into account sensor volume growth fueled by an increase in CGM awareness for people with Type 1 and Type 2 diabetes, sustained international expansion, overall market dynamics and shifting channel mix.

The company will furnish further details with respect to its 2022 financial outlook on the fourth-quarter earnings call.

Shares Down

Despite reporting upbeat preliminary fourth-quarter and full-year revenues, DexCom’s shares fell 1.9% to $462.34 at the close of the session.

Zacks Investment Research
Zacks Investment Research

Image Source: Zacks Investment Research

Shares of the Zacks Rank #3 (Hold) company gained 28.3% in the past year, against the industry’s decline of 1%.

Key Picks

Some better-ranked stocks in the broader medical space include AMN Healthcare Services, Inc. AMN, Henry Schein, Inc. HSIC and Laboratory Corporation of America Holdings LH.

AMN Healthcare surpassed earnings estimates in each of the trailing four quarters, the average surprise being 19.5%. The company currently sports a Zacks Rank of 1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

AMN Healthcare’s long-term earnings growth rate is estimated at 16.2%. The company’s earnings yield of 5.5% compares favorably with the industry’s 0.8%.

Henry Schein beat earnings estimates in each of the trailing four quarters, the average surprise being 21.9%. The company currently carries a Zacks Rank #2 (Buy).

Henry Schein’s long-term earnings growth rate is estimated at 11.8%. The company’s earnings yield of 5.9% compares favorably with the industry’s 4.1%.

Laboratory Corporation surpassed earnings estimates in each of the trailing four quarters, the average surprise being 25.7%. The company currently sports a Zacks Rank #1.

Laboratory Corporation’s long-term earnings growth rate is estimated at 10.6%. The company’s earnings yield of 9.4% compares favorably with the industry’s 3.4%.


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