We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
DexCom (DXCM) to Boost Diabetes Management With New Approval
Read MoreHide Full Article
DexCom, Inc. (DXCM - Free Report) recently announced the receipt of CE Mark for its G7 Continuous Glucose Monitoring (CGM) System in Europe, intended for people who have diabetes and are two years and older, including pregnant women. With this approval, the highly popular and best-selling real-time CGM in the world is now more powerful and easier to use with a small, all-in-one wearable and completely redesigned mobile app.
It is important to mention here that the company anticipates unveiling a launch of DexCom G7 in Europe in the next several weeks. Apart from this, the company has plans to introduce an updated CGM algorithm in 2022, thereby driving the next step forward in CGM sensor performance.
This announcement is likely to boost Dexcom’s already strong leadership in CGM connected solutions space.
More on the News
Per management, the receipt of this approval marks a huge milestone for DexCom and for people with diabetes in Europe. This new platform provides an extremely powerful CGM that is easy to use, thereby helping the company’s users with insightful glucose data on one screen. This in turn reduces the time in managing diabetes.
Image Source: Zacks Investment Research
The company is collaborating with its insulin pump partners to combine Dexcom G7 into current and future automated insulin delivery systems as quickly as possible.
Market Prospects
Per a report by Grand View Research, the global CGM device market size was valued at $4.7 billion in 2020 and is estimated to witness a CAGR of 10.1% from 2021 to 2028. The growing incidence of diabetes coupled with the increasing geriatric population prone to diabetes is the primary factor driving this market’s growth. Hence, this announcement is well-timed for Dexcom.
Recent Developments
This month, the company announced that the Ontario government will offer coverage for the Dexcom G6 continuous glucose monitoring (CGM) System effective Mar 14, 2022. The government is going to offer this coverage through its Assistive Devices Program (ADP) for people staying in the province living with type 1 diabetes and are over two years of age and fulfill the coverage criteria.
Also, this month, the company received the FDA’s Breakthrough Device Designation for the Dexcom CGM system’s use in the hospital setting. The designation is expected to offer a more efficient and streamlined review pathway to enable Dexcom CGM technology expand the company’s footprint in the hospital market faster.
Last month, Dexcom announced that people with diabetes under 18 years of age who need the ongoing use of insulin or insulin pump therapy are eligible for public coverage of the Dexcom G6 CGM System via Alberta Health.
Price Performance
Shares of the company have gained 14.8% in the past year against the industry’s 9.2% fall.
Zacks Rank & Key Picks
Currently, Dexcom carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the broader medical space are AMN Healthcare Services, Inc. (AMN - Free Report) , Henry Schein, Inc. (HSIC - Free Report) and McKesson Corporation (MCK - Free Report) .
AMN Healthcare surpassed earnings estimates in each of the trailing four quarters, the average surprise being 20%. The company currently sports a Zacks Rank of 1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
AMN Healthcare’s long-term earnings growth rate is estimated at 16.2%. AMN’s earnings yield of 8.8% compares favorably with the industry’s 0.3%.
Henry Schein beat earnings estimates in each of the trailing four quarters, the average surprise being 25.5%. The company currently sports a Zacks Rank #2 (Buy).
Henry Schein’s long-term earnings growth rate is estimated at 11.8%. HSIC’s earnings yield of 5.6% compares favorably with the industry’s 4.1%.
McKesson surpassed earnings estimates in each of the trailing four quarters, the average surprise being 20.6%. The company currently carries a Zacks Rank #2.
McKesson’s long-term earnings growth rate is estimated at 11.8%. MCK’s earnings yield of 8.8% compares favorably with the industry’s 4.1%.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
DexCom (DXCM) to Boost Diabetes Management With New Approval
DexCom, Inc. (DXCM - Free Report) recently announced the receipt of CE Mark for its G7 Continuous Glucose Monitoring (CGM) System in Europe, intended for people who have diabetes and are two years and older, including pregnant women. With this approval, the highly popular and best-selling real-time CGM in the world is now more powerful and easier to use with a small, all-in-one wearable and completely redesigned mobile app.
It is important to mention here that the company anticipates unveiling a launch of DexCom G7 in Europe in the next several weeks. Apart from this, the company has plans to introduce an updated CGM algorithm in 2022, thereby driving the next step forward in CGM sensor performance.
This announcement is likely to boost Dexcom’s already strong leadership in CGM connected solutions space.
More on the News
Per management, the receipt of this approval marks a huge milestone for DexCom and for people with diabetes in Europe. This new platform provides an extremely powerful CGM that is easy to use, thereby helping the company’s users with insightful glucose data on one screen. This in turn reduces the time in managing diabetes.
Image Source: Zacks Investment Research
The company is collaborating with its insulin pump partners to combine Dexcom G7 into current and future automated insulin delivery systems as quickly as possible.
Market Prospects
Per a report by Grand View Research, the global CGM device market size was valued at $4.7 billion in 2020 and is estimated to witness a CAGR of 10.1% from 2021 to 2028. The growing incidence of diabetes coupled with the increasing geriatric population prone to diabetes is the primary factor driving this market’s growth. Hence, this announcement is well-timed for Dexcom.
Recent Developments
This month, the company announced that the Ontario government will offer coverage for the Dexcom G6 continuous glucose monitoring (CGM) System effective Mar 14, 2022. The government is going to offer this coverage through its Assistive Devices Program (ADP) for people staying in the province living with type 1 diabetes and are over two years of age and fulfill the coverage criteria.
Also, this month, the company received the FDA’s Breakthrough Device Designation for the Dexcom CGM system’s use in the hospital setting. The designation is expected to offer a more efficient and streamlined review pathway to enable Dexcom CGM technology expand the company’s footprint in the hospital market faster.
Last month, Dexcom announced that people with diabetes under 18 years of age who need the ongoing use of insulin or insulin pump therapy are eligible for public coverage of the Dexcom G6 CGM System via Alberta Health.
Price Performance
Shares of the company have gained 14.8% in the past year against the industry’s 9.2% fall.
Zacks Rank & Key Picks
Currently, Dexcom carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the broader medical space are AMN Healthcare Services, Inc. (AMN - Free Report) , Henry Schein, Inc. (HSIC - Free Report) and McKesson Corporation (MCK - Free Report) .
AMN Healthcare surpassed earnings estimates in each of the trailing four quarters, the average surprise being 20%. The company currently sports a Zacks Rank of 1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
AMN Healthcare’s long-term earnings growth rate is estimated at 16.2%. AMN’s earnings yield of 8.8% compares favorably with the industry’s 0.3%.
Henry Schein beat earnings estimates in each of the trailing four quarters, the average surprise being 25.5%. The company currently sports a Zacks Rank #2 (Buy).
Henry Schein’s long-term earnings growth rate is estimated at 11.8%. HSIC’s earnings yield of 5.6% compares favorably with the industry’s 4.1%.
McKesson surpassed earnings estimates in each of the trailing four quarters, the average surprise being 20.6%. The company currently carries a Zacks Rank #2.
McKesson’s long-term earnings growth rate is estimated at 11.8%. MCK’s earnings yield of 8.8% compares favorably with the industry’s 4.1%.