Will DexCom Inc. Stock Price Drop More from $100.00?

DexCom Inc. (DXCM) stock price has shown increased dominance since the beginning of this year. That shows a year-to-date (YTD) price decline is over 11% while the monthly price drop is more than 22%.

The downward trend still stayed this week too which further showed a 6.19% price drop in the weekly analysis. The price performance in the last month clearly shows a sliding chart. If this bearish trend continues during the upcoming trading session, then DXCM stock will decline more from $100.00.

The Falling Chart of DXCM Stock Price

Near the weekend, DXCM stock price closed at $100.76, with a 0.22% price drop. However, the stock price tried to soar up to $102.11, but due to the bearish trend, formed a downward trend.

For quite a long time, the bearish trend caused a downward chart, the RSI reached its oversold zone. The increased trading volume activity of bears also be seen during the recent trading sessions.

The bearish trend in DXCM stock started after DexCom Inc. reported its recent quarter result. Since then, DXCM share price slid from $134.00 to go below $100.00. The 52-week low price of DXCM stock was at $78.94 and the recent downward further seems like it is following the previous trend.

The one-year price target set by analysts is showing at $149.79, up by over 48% from the recent closing price of DXCM stock. Their maximum estimate is resting at $175.00 whereas the minimum estimate is at $130.00. Notably, in the past 3-months, analysts gave a “strong-buy” rating to DexCom Inc.

The Financial Update of DexCom

DexCom Inc. (NASDAQ: DXCM), a medical device manufacturing company, has a market cap of nearly $39.16 Billion. Late in July 2023, the company released its second quarter (Q2) 2023 results that stated its net income was $115.90 Million.

DXCM price-to-sales ratio is 13.63 and the company has an Enterprise Value to EBITDA ratio of 63.88. DXCM earnings per share (EPS) for Q2 2023 is $0.34 whereas the estimation was $0.23 which accounts for a 50.56% surprise.

The revenue for the same period amounts to $871.30 Million despite the estimated figure of $841.16 Million. For the upcoming quarter report, the estimated EPS is $0.34, and revenue is expected to reach $939.55 Million.

In 2022, the revenue of DexCom Inc. reached $2.91 Billion. The most of which — $2.47 Billion — came from its highest performing source at the moment, “the distributor.” The U.S. became the greatest contributor to the revenue figure of DexCom Inc. last year bringing it to $2.14 Billion.

Disclaimer

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Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing