DexCom Inc. (NASDAQ:DXCM) is one of the 10 Stocks Dominating With Powerful Gains.
DexCom snapped a two-day loss on Friday, jumping 6.59 percent to close at $61.63 apiece, as investor sentiment was bolstered by its higher growth outlook for the full-year period.
At its investor day on Thursday, DexCom Inc. (NASDAQ:DXCM) announced an organic revenue growth target of 10 percent annually through 2030.
For illustration purposes only. Photo by Towfiqu Barbhuiya on Pexels.
It also raised its non-GAAP gross margin outlook to a range of 67 to 69 percent, versus 63 to 64 percent targeted earlier, as well as its non-GAAP operating profit margin to 29 to 30 percent, versus 23 to 23.5 percent previously.
Adjusted EBITDA margin, on the other hand, was raised to 36 to 37 percent from 31 to 31.5 percent prior.
In other news, DexCom Inc. (NASDAQ:DXCM) also announced plans to add two more independent directors with experience in medical technology and operations following its collaboration with activist investor Elliott Investment Management LP, which also holds a significant stake in the company. This would bring the number of independent directors to six in total.
According to DexCom Inc. (NASDAQ:DXCM), it has begun the search for new board members with proven leadership in medical technology and operations.
“Our board is always focused on continual refreshment that adds the skills and experience that will take our company to the next level,” Lead Independent Director Mark Foletta said.
“We are excited to announce this plan to further bolster our board’s composition,” he noted.
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