Dexcom (Nasdaq:DXCM) shares got a massive boost on third-quarter results that came in well ahead of the consensus forecast.
The San Diego-based continuous glucose monitor (CGM) maker also announced a $500 million share repurchase program in conjunction with its third-quarter results. The repurchase program follows a $1 billion senior convertible note offering this year, plus a 4-for-1 reverse stock split executed last year.
Shares of DXCM skyrocketed nearly 10% at $88.80 apiece after the market closed today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — closed the day down nearly 2%.
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