Yahoo Finance DexCom's (DXCM) G7 CGM System Now Connects to Apple Watch
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 confidence even when their iPhone is not with them.
More on the Feature
Dexcom G7 users may go for a run, have a meal out and feel comfortable leaving their iPhone behind as the system sports a dedicated Bluetooth connection that allows it to deliver glucose information and tailored alerts directly to their Apple Watch. The Dexcom G7 is the only CGM system that can show blood glucose levels on several screens independently, such as a smartphone, smartwatch, receiver, or linked automated insulin administration system.
Apart from the advantages of using Direct to Apple Watch with Dexcom G7, diabetic patients can monitor additional vital health indicators that may influence blood glucose levels by utilizing Apple's Activity, Cycle Tracking, Sleep, and further health capabilities on Apple Watch, iPhone, and iPad. All these data are safely kept in the Health app, where users may examine it, along with any Dexcom G7 data they choose to save, allowing them to access all their diabetes-related health records in one location.
To use Direct to Apple Watch, users must have the Dexcom G7 app version 2.1, an Apple Watch Series 6 or later running watchOS 10 or later, and an iPhone running iOS 17 or later.
More on Dexcom G7 CGM System
Since the international conference of Advanced Technologies and Treatments of Diabetes 2023, Dexcom has expanded access to its ground-breaking real-time CGM technology by introducing its best-in-class G7 sensor into 16 new markets. Patients with diabetes of any kind, including gestational, who are two years or older can use Dexcom G7. This wearable glucose meter can be worn day or night on the back of the upper arm for up to 10 days, and it requires replacement.
The Dexcom G7 CGM System is designed to be user-friendly, robust and efficient. CGM uses a wearable sensor to continuously monitor blood sugar levels. Without the inconvenience of fingersticks or scanning, Dexcom CGM Systems transmit your blood glucose readings in real time to a handheld receiver or smart device.
Patients can control their glucose and accomplish outcomes like a lower A1C and more time in range by making better decisions about what to eat, how much to exercise and how to take their medications when they have simpler access to real-time CGM data.
The Dexcom G7 CGM sensor needs only 30 minutes to warm up, and there is a 12-hour grace period to replace finished sensors for a seamless transition between sessions. The alert settings on the system have also been improved.
Industry Prospects
Per a report by MarketsandMarkets, the global digital diabetes management market was estimated to be $18.9 billion in 2023 and is expected to reach $35.8 billion by 2028 at a growth rate of 13.6%.
The market is being driven by escalating diabetes care solutions and technological developments that have made it possible to introduce highly adaptable solutions. Other significant drivers include the increasing popularity of the use of connected devices and apps as well as the growing adoption of cloud-based solutions.
Given the market potential, the improvement and innovation of new features for its CGM system are likely to provide a significant boost to Dexcom’s business.
Notable Developments
Dexcom recently announced the FDA clearance of its Stelo glucose biosensor, which is available over-the-counter to consumers without a prescription. Stelo's approval of non-prescription use would further facilitate this population's access to cutting-edge CGM technology.
In December 2023, Dexcom announced the Dexcom G7 CGM System connectivity with the t: slim X2 insulin pump by Tandem Diabetes Care in the United States, marking the first AID integration with the Dexcom G7 CGM.
Dexcom also unveiled its new state-of-the-art manufacturing facility located in Athenry Co. Galway. With the ability to produce millions of Dexcom rtCGM sensors annually, the new plant is likely to contribute to the betterment of diabetes patients throughout Europe, the Middle East, and Africa.
Price Performance
For the past six months, DXCM’s shares have lost 0.7% against the industry’s rise of 13.9%. The S&P 500 increased 15.5% in the same time frame.
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Zacks Rank & Stocks to Consider
DXCM carries a Zacks Rank #3 (Hold) at present.
Some better-ranked stocks in the broader medical space that have announced quarterly results are Align Technology, Inc. ALGN, Ecolab ECL and Boston Scientific Corporation BSX.
Align Technology, currently carrying a Zacks Rank of 2 (Buy), reported first-quarter 2024 adjusted earnings per share (EPS) of $2.14, which beat the Zacks Consensus Estimate by 8.1%. Revenues of $997.4 million outpaced the consensus mark by 2.6%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Align Technology has a long-term estimated growth rate of 6.9%. ALGN’s earnings surpassed estimates in three of the trailing four quarters and missed once, the average surprise being 5.9%.
Ecolab, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 13.3%. ECL’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 1.7%.
Ecolab’s shares have rallied 33.8% against the industry’s 9.3% decline in the past year.
Boston Scientific reported first-quarter 2024 adjusted EPS of 56 cents, which beat the Zacks Consensus Estimate by 9.8%. Revenues of $3.86 billion surpassed the Zacks Consensus Estimate by 4.9%. It currently carries a Zacks Rank #2.
Boston Scientific has a long-term estimated growth rate of 12.5%. BSX’s earnings surpassed estimates in the trailing four quarters, the average surprise being 7.5%.
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Boston Scientific Corporation (BSX) : Free Stock Analysis Report
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DexCom, Inc. (DXCM) : Free Stock Analysis Report
