Dexcom Shares Drop Sharply After Revenue Miss and Lowered Guidance

The diabetes device maker's stock plummeted following disappointing Q2 results and a reduced full-year forecast.

Dexcom reported Q2 revenue of $1 billion, missing analyst expectations of $1.04 billion.
The company lowered its full-year revenue guidance to $4-4.05 billion, down from previous estimates of $4.2-4.35 billion.
Adjusted earnings per share were 43 cents, slightly above the expected 39 cents.
Analysts have significantly reduced their price targets for Dexcom following the earnings report.
Dexcom announced a $750 million stock buyback program amidst the downturn.