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The 3 Best Diabetes Stocks to Buy in June 2024
Investor Place· 2024-06-19 10:02
Since last October, there has been a marked reduction in fears about the sales of diabetes drugs dropping as a result weight-loss drugs. That’s because Dexcom (NASDAQ:DXCM) delivered stronger-than-expected third-quarter results in October. And during its Q3 earnings call, Dexcom actually reported that when diabetes patients are on the GLP-1 drugs, their demand for glucose monitors tend to rise. Dexcom and other diabetes stocks advanced significantly over the subsequent six months or so, but they have pulled ...
DexCom's (DXCM) G7 CGM System Now Connects to Apple Watch
ZACKS· 2024-06-06 15:36
DexCom Inc. (DXCM) recently announced the direct connectivity of the Dexcom G7 Continuous Glucose Monitoring (CGM) system with the Apple Watch. This added feature is now available to users in the United States, the UK and Ireland, with additional markets launching the feature soon.The Dexcom G7 provides customers with the liberty and convenience of real-time glucose readings on their wrist as the first and only CGM system that links directly to the Apple Watch. This feature is likely to provide users confid ...
DexCom (DXCM) Declines on Potential Competition for Stelo (revised)
ZACKS· 2024-06-04 18:26
Core Insights - DexCom's shares declined nearly 3% on June 3 due to rising competition following the FDA's approval of Abbott's competing product Lingo [1][2] - DexCom's Stelo, approved in March 2024, is the first over-the-counter continuous glucose monitoring (CGM) device, allowing users to track glucose levels via smartphone without a prescription [1][4] - Abbott's Lingo, also an over-the-counter glucose monitor, is already available in the UK and poses a competitive threat to DexCom in the OTC CGM market [2][4] Company Performance - DexCom's shares have decreased by 7.2% year-to-date, contrasting with a 5% growth in the industry and a 10.9% rise in the S&P 500 Index [3] - The company has seen strong contributions from its Sensor segment and growth in both domestic and international revenues, which are expected to continue through 2024 [7] Competitive Landscape - Both DexCom and Abbott compete in the CGM market with their respective devices, G6 & G7 and Libre, but the new OTC devices Stelo and Lingo target a broader audience, including non-diabetic individuals [4][5] - Abbott's extensive resources in healthcare product markets may provide it with a competitive edge over DexCom as both companies launch their OTC products [5][6] Notable Developments - DexCom announced compatibility of its G6 and G7 CGM sensors with Tandem Diabetes Care's Mobi insulin pump, enhancing predictive capabilities for glucose levels [7] - A new feature allowing direct connection of the G7 CGM to Apple Watch is set to launch gradually by the end of Q2 2024, potentially increasing user convenience [8]
DexCom (DXCM) Declines on Potential Competition for Stelo
ZACKS· 2024-06-04 11:21
Shares of DexCom (DXCM) lost almost 3% on Jun 3, probably due to concerns about a rise in competition for its recently approved Stelo as the FDA approved a competing product.The FDA approval for Stelo in March 2024 looked promising as it was the first and only continuous glucose monitoring (CGM) device to receive approval for its over-the-counter (OTC) availability as a glucose biosensor. Stelo represents a significant opportunity as it can be used to get glucose insights directly on a smartphone without a ...
Bull Market Buys: 2 Growth Stocks to Own for the Long Haul
The Motley Fool· 2024-06-03 11:45
Innovation is paying off for both of these medical device specialists.Every good thing must come to an end -- and, eventually, the bull market we're experiencing will, too. Long-term investors must prepare for that to happen at some point.One of the best ways to do so is to buy stocks that can perform well through bull runs but can also hold down the fort when things aren't going so well. That's what it takes to deliver market-beating returns over long periods -- corporations that crumble under the pressure ...
Should Abbott and DexCom Investors Be Worried About Vertex Pharmaceuticals?
fool.com· 2024-05-30 09:50
Vertex might not present a clear and present danger to Abbott and DexCom but could present a clear future threat.Successful investors think about the future by focusing on what the new opportunities might be. They also pay attention to threats that could emerge that might impact the stocks they own. Sometimes, those threats come out of the blue, but other times, they're identifiable well in advance.If you own shares of Abbott (ABT -1.20%) or DexCom (DXCM 0.20%), there's a looming threat to know about. It's ...
The 3 Best MedTech Stocks to Buy Now: May 2024
investorplace.com· 2024-05-29 18:30
In a recent deep-dive research report on the state of the MedTech (medical technology) sector, Oppenheimer highlighted the potential of artificial intelligence (AI) in the sector, noting its capacity to save an estimated $200 billion to $300 billion annually through enhanced workflow management. Inspired by these findings, this article explores the three best MedTech stocks to buy now, each poised to capitalize on AI-driven advancements.The promise of AI in MedTech is substantial with workflow efficiency im ...
Why DexCom (DXCM) is a Top Momentum Stock for the Long-Term
zacks.com· 2024-05-27 14:56
It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors. Luckily, Zacks Premium offers several different ways to do both.Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor.Zacks Premium includes access to the Zacks Style Scores as we ...
Reasons to Retain DexCom (DXCM) Stock in Your Portfolio Now
zacks.com· 2024-05-17 12:06
DexCom, Inc. (DXCM) is well-poised for growth in the coming quarters, backed by its strong product portfolio. A robust first-quarter 2024 performance, along with a series of favorable coverage decisions, is expected to contribute further. However, risks related to stiff competition persist.This current Zacks Rank #3 (Hold) company’s shares have risen 6.3% year to date compared with the industry’s 10% growth. The S&P 500 Index has increased 11.5% in the same time frame.DXCM, a renowned medical device company ...
Will DexCom Offer Better Returns Than 3M Stock?
forbes.com· 2024-05-17 12:00
SHANGHAI, CHINA - JANUARY 25, 2022 - A 3M logo display of air-condensed thermal materials in a ... [+] shopping mall in Shanghai, China, January 25, 2022. (Photo credit should read Wang Gang / Costfoto/Future Publishing via Getty Images)Future Publishing via Getty ImagesGiven its better prospects, we believe DexCom stock (NASDAQ NASDAQ : DXCM) is a better pick than 3M stock (NYSE: MMM). Although these companies are from different sectors, we compare them because of their similar market capitalization of aro ...