Actions de Dexcom chutent de plus de 40% après les résultats du deuxième trimestre

Dexcom shares plummeted at their steepest rate ever, dropping over 40% in a single day following disappointing revenue reports and weak guidance for the second quarter. This drastic decline wiped out more than $17 billion in market cap for the diabetes management company.

Analysts had anticipated revenue of $1.04 billion for Dexcom, but the company reported only $1 billion, a 15% increase from the previous year. The forecast for the third quarter was also lackluster, with projected revenue of $975 million to $1 billion, and the full fiscal-year guidance was revised down to $4 billion to $4.05 billion.

CEO Kevin Sayer attributed the challenges to a restructuring of the sales team, decreased new customer acquisition, and lower revenue per user. The company also underperformed in the durable medical equipment channel.

JPMorgan analysts downgraded Dexcom’s stock from a buy to a hold, emphasizing that the company’s poor performance was internally driven rather than a result of external market changes. They expressed concern over the substantial drop in guidance and questioned the impact of weight loss treatments on Dexcom’s business.

Despite the disappointing results, some analysts remain optimistic about Dexcom’s long-term prospects. William Blair analysts believe the company has the potential to regain lost market share and expand its market reach. Leerink analysts also stated that the current issues are unlikely to have a significant impact on Dexcom’s future trajectory.

In the midst of this turmoil, Dexcom announced the launch of its new over-the-counter CGM, Stelo, designed for patients with Type 2 diabetes who do not use insulin. The company remains focused on innovation and growth despite the recent challenges.

Overall, while Dexcom’s recent performance may have been disappointing, analysts and investors are hopeful that the company can bounce back and continue to thrive in the diabetes management market.