DexCom Inc. DXCM recently released preliminary fourth-quarter and full-year 2020 revenue results.Per the preliminary announcement, DexCom — the leader in continuous glucose monitoring (CGM) — anticipates fourth-quarter 2020 revenues to meet or exceed $567 million (up 23% from the year-ago quarter).In fact, U.S. revenues are projected to be around $451 million, reflecting growth of 20% from the prior-year quarter. Further, international revenues are anticipated to be about $116 million (up 33% from the year-ago quarter).Total preliminary revenues for 2020 is projected to meet or cross $1.93 billion (more than 30% higher compared with the year-ago period).The company is scheduled to report fourth-quarter and full-year financial results on Feb 11.HighlightsPer management, DexCom showed strength and resilience despite the challenging environment in 2020. The company managed to exhibit revenue growth of approximately $450 million over 2019, while taking several crucial steps to augment prospects in future.2021 GuidancePresently, DexCom projects total revenues in the range of around $2.21-$2.31 billion, which reflects anticipated growth of about 15-20% over 2020.The above-mentioned growth outlook takes into account sensor volume growth fueled by increase in CGM awareness for people with Type 1 and Type 2 diabetes, sustained international expansion, overall market dynamics and shifting channel mix.Notably, the company will furnish further details with respect to its 2021 financial outlook on the fourth-quarter earnings call.Shares DownDespite reporting upbeat preliminary fourth quarter and full-year revenues, DexCom’s shares fell 2.8% to $360.17 at the close of the session, following the announcement. Shares of the Zacks Rank #4 (Sell) company lost 8.6% in the past three months, against the industry’s growth of 5.8%.Key PicksSome better-ranked stocks from the broader medical space are McKesson Corporation MCK, Patterson Companies, Inc. PDCO and IDEXX Laboratories, Inc. IDXX, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.McKesson has a projected long-term earnings growth rate of 6.6%.Patterson Companies has an estimated long-term earnings growth rate of 9.6%.IDEXX Laboratories has a projected long-term earnings growth rate of 15.8%.The Hottest Tech Mega-Trend of AllLast year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.See Zacks' 3 Best Stocks to Play This Trend >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report McKesson Corporation (MCK): Free Stock Analysis Report DexCom, Inc. (DXCM): Free Stock Analysis Report Patterson Companies, Inc. (PDCO): Free Stock Analysis Report IDEXX Laboratories, Inc. (IDXX): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research