Are You a Momentum Investor? This 1 Stock Could Be the Perfect Pick
For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.
While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.
Is This 1 Momentum Stock a Screaming Buy Right Now?
For momentum investors, upward or downward trends in a stock's price or earnings outlook take precedent, so they'll want to zero in on the Momentum Style Score. This Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.
DexCom (DXCM)
San Diego, CA-based DexCom, Inc. is a medical device company focused on the design, development and commercialization of continuous glucose monitoring systems (CGM). These are for ambulatory use by people with diabetes and by healthcare providers for the treatment of diabetic and non-diabetic patients.
DXCM is a Zacks Rank #3 (Hold) stock, with a Momentum Style Score of B and VGM Score of B. Shares are down 3.6% over the past one week and up 1.3% over the past four weeks. DXCM has gained 15.2% in the last one-year period as well. Looking at trading volume, an average of 2,058,209.25 shares exchanged hands over the last 20 trading days.
Momentum investors don't just pay attention to price changes; positive earnings play a crucial role, too. Three analysts revised their earnings estimate upwards in the last 60 days for fiscal 2023. The Zacks Consensus Estimate has increased $0.01 to $1.44 per share. DXCM boasts an average earnings surprise of 36.4%.
DXCM should be on investors' short list because of its impressive earnings fundamentals, a good Zacks Rank, and strong Momentum and VGM Style Scores.
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DexCom, Inc. (DXCM) : Free Stock Analysis Report
