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Increased Earnings Estimates Seen for DexCom (DXCM): Can It Move Higher?

Zacks Equity Research

DexCom,Inc.DXCM is a medical device provider, that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on DXCM’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that DexCom could be a solid choice for investors.

Current Quarter Estimates for DXCM

In the past 30 days, four estimates have gone higher for DexCom while three have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 8 cents a share 30 days ago, to 9 cents today, a move of 12.5%.

Current Year Estimates for DXCM

Meanwhile, DexCom ’s current year figures are also looking quite promising, with six estimates moving higher in the past month, compared to two lower. The consensus estimate trend has also seen a boost for this time frame, increasing from $1.73 per share 30 days ago to $1.99 per share today, an increase of 15%.

DexCom, Inc. Price and Consensus

DexCom, Inc. Price and Consensus

DexCom, Inc. price-consensus-chart | DexCom, Inc. Quote

Bottom Line

The stock has also started to move higher lately, adding 27.8% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So, investors may want to consider this Zacks Rank #2 (Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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