Dexcom (NSDQ:DXCM) reported mixed Q4 2020 results and reiterated a fiscal year 2021 revenue guidance that is slightly below Wall Street projections.
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.
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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.