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Why DexCom Stock Is Dropping Today

TheMotleyFool

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Why DexCom Stock Is Dropping TodayPhoto, wide shot, wide-angle lens, Pharmaceutical company, Midday, harsh overhead sunlight, directional sunlightt, photo by Art Wolfe: https://img.midjourneyapi.xyz/temp/7ae4a134-dd01-4c80-a621-18399f5a2541.png

Shares of medical devices company DexCom (NASDAQ: DXCM) are dropping sharply on Friday after the company announced its first-quarter 2021 financial results on Thursday afternoon. As of 11:29 a.m. EDT today, DexCom's stock was down 6.3%.

It isn't immediately clear why the market is reacting the way it is following DexCom's quarterly update. The company's revenue of $505 million -- representing a 25% year-over-year increase -- came in above the average analyst estimate for roughly $482.6 million. Also, DexCom's adjusted earnings per share of $0.33 came in above the $0.31 consensus analyst estimate, although it dropped noticeably from the $0.44 adjusted EPS it reported during the prior-year quarter.

Image source: Getty Images.

Source Fool.com

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