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Tall Tom's avatar

Ouch. Enormous drop overnight in dexcom.

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Matthew Carr's avatar

Yeah, that was a brutal drop. They beat on EPS, slight miss on revenue. But they cut full-year guidance by $250 million, from $4.27 billion to $4.025 billion.

Of course, JPM slashed its price target from $145 to $75.

A 37% drop feels a little of an overreaction. But the company had been fairly stable as of late.

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Marc Baker's avatar

DXCM is down 41% today. What happened?

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Matthew Carr's avatar

It lowered forward guidance. It was a complete over-reaction. There’s the fear of GLP-1s. But they lowered guidance by $250 million for the year. And the result was the worst drop on any earnings report since I’ve been covering the company.

It was a wild one! And completely broke with the trend we’ve seen.

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