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SAN DIEGO - DexCom, Inc. (NASDAQ: DXCM), a prominent player in glucose biosensing technology with a market capitalization of $28.75 billion and an "GREAT" financial health rating according to InvestingPro, has announced the appointment of Jon Coleman to the position of chief commercial officer. Coleman, with over three decades of experience in global commercial leadership within the healthcare sector, is set to lead DexCom’s worldwide commercial operations.
Coleman’s extensive background includes a 15-year stint at Masimo Corporation (NASDAQ: MASI), where he played a pivotal role in expanding the company’s global hospital sales and customer service teams. His appointment comes as DexCom maintains strong financial performance, with revenue growth of 11.34% and a healthy gross profit margin of 60.46% in the last twelve months. His tenure at Pfizer’s (NYSE: PFE) Consumer Healthcare division is marked by significant leadership roles, including vice president and general manager for Canada and the Caribbean. His efforts at Pfizer led to notable regional growth and the development of innovative products.
Kevin Sayer, DexCom’s chairman, president, and CEO, expressed confidence in Coleman’s ability to navigate the complexities of the global healthcare market, citing his consistent track record of robust performance across various sectors.
Coleman expressed enthusiasm for the opportunity to contribute to DexCom’s mission to innovate in the field of glucose biosensing and to harness the company’s potential for long-term growth.
Prior to his executive role at Masimo, Coleman’s career included leadership positions at Targus Group International and over a decade at Pfizer, where his strategic initiatives spurred significant growth. His early career included time at Procter & Gamble Company and Bain & Company. Coleman is an alumnus of Harvard Business School, where he earned his M.B.A., and holds a Bachelor of Arts in International Relations from Brigham Young University.
DexCom, established in 1999, has been at the forefront of glucose monitoring technology, offering solutions that have revolutionized diabetes management for over two decades. According to InvestingPro analysis, the company currently trades below its Fair Value, with analysts projecting continued profitability and 14% revenue growth for FY2025. For deeper insights into DexCom’s financial health and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro, which covers over 1,400 top US stocks with detailed analysis and actionable intelligence.
The appointment of Jon Coleman as chief commercial officer is based on a press release statement from DexCom, Inc.
In other recent news, DexCom reported fourth-quarter earnings with adjusted earnings per share of $0.45, missing the consensus estimate of $0.52. However, revenue for the quarter reached $1.11 billion, slightly exceeding expectations and marking an 8% year-over-year increase. For the full year 2024, revenue grew by 11% to $4.03 billion, with U.S. revenue increasing by 10% and international revenue rising by 15%. Looking forward, DexCom forecasts 2025 revenue of approximately $4.6 billion, which is below the $4.61 billion consensus estimate. The company also expects a non-GAAP gross profit margin of 64-65% and an operating margin of about 21%.
In other developments, DexCom received a warning letter from the FDA concerning manufacturing processes at its facilities in California and Arizona. Both Citi and BTIG maintained their Buy ratings on DexCom, with Citi setting a price target of $104 and BTIG at $120, despite the FDA’s concerns. DexCom assured that the warning would not affect its revenue, margin guidance, or product approval processes. Additionally, Bernstein analysts raised their price target for DexCom to $100 from $89, highlighting a return to stability and positive market reception of recent results and guidance.
Furthermore, DexCom announced the appointment of Renée Galá to its Board of Directors, bringing extensive experience in financial and strategic leadership from her role at Jazz Pharmaceuticals. The company anticipates that her insights will be valuable as it continues to pursue growth.
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