On May 22, 2013, we reiterated
) at Neutral based on its first quarter 2013 earnings
On May 1, DexCom announced results for the reported quarter.
The company incurred adjusted loss per share of 16 cents,
narrower than the Zacks Consensus Estimate of a loss of 17 cents
Revenues surged 47% year over year to $29.6 million in the
first quarter, beating the Zacks Consensus Estimate of $28
million. Product sales increased about 49% to $27.8 million while
development grant and other revenues improved 20% to $1.8 million
in the reported quarter.
Going forward, its G4 Platinum offering is expected to fuel
growth. DexCom has collaborative agreements with several
companies including Tandem Diabetes Care, Inc. and Animas
Corporation (a subsidiary of Johnson & Johnson).
On the negative side, competition in the glucose monitoring
market is fierce. Moreover, DexCom has incurred losses since
inception and its efforts are made more difficult by a stringent
The Zacks Consensus Estimate has improved by a penny over the
past month to a loss of 54 cents for 2013. The Zacks Consensus
Estimate for 2014 has improved by a penny to a loss of 21 cents
over the same timeframe.
The stock carries a Zacks Rank #3 (Hold). We are more
Heartware International Inc.
) each of which carries a Zacks Rank #2 (Buy) and are expected to
do well. In addition,
) carries a Zacks Rank #1 (Strong Buy) and warrants a look.
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