(RTTNews) - Shares of DexCom, Inc. (DXCM) are currently slipping over 10% despite the medical device company's third-quarter results beating Wall Street estimates. U.S. stocks are trading down on Wednesday morning as investors are worried about the economic impact of spike in coronavirus cases lately.
DXCM is currently trading at $340.21, up $40.42 or 10.62%, on the Nasdaq.
Tuesday, DexCom reported third-quarter profit of $72.2 million or $0.73 per share, up from $45.8 million or $0.50 per share last year. Adjusted earnings increased to $0.94 per share from $0.65 per share last year. Analysts polled by Thomson Reuters estimated earnings of $0.64 per share.
Revenues for the quarter grew 26% to $500.9 million from $396.3 million last year. Analysts had a consensus estimate of $476.75 million.
Looking forward, DexCom expects revenues of about $1.90 billion for the full year. Analysts currently estimate revenues of $1.87 billion.
On Monday, DexCom said that Rick Doubleday, the company's executive vice president and chief commercial officer, will retire at the end of 2020.
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