The San Diego–based continuous glucose monitor company yesterday evening reported profits of $355.2 million, or $3.48 per share, on sales of $568.9 million for the three months ended Dec. 31, 2020, nearly quadrupling the bottom line on 23% sales growth compared with Q4 2019.
Adjusted to exclude one-time items, earnings per share were 91¢, a penny behind The Street, where analysts were looking for EPS of 92¢ on sales of $552.88 million.
Investors reacted by sending DCXM shares down –4.3% in after-hours trading yesterday. But by the next morning, shares were only down –1.52%, trading at $403.97 apiece. MassDevice‘s MedTech 100 Index, which includes stocks of the world’s largest medical device companies, was up slightly this morning.
This story originally ran on Thursday, Feb. 11, after market close. Updated with additional details, including from earnings call. Pharma editor Brian Buntz contributed to this article.