Developer of continuous glucose monitoring systems, DexCom Inc. DXCM recently announced that the DexCom Follow app – a component of the Dexcom G4 PLATINUM Continuous Glucose Monitor (CGM) System with Share – is now available for Android devices.
Notably, DexCom CGM is the industry’s first mobile-connected CGM system. We note that DexCom CGM and its mobile apps – Share 2 and Follow – are already approved by the FDA and allow both users and followers to view glucose data directly on their iOS-enabled devices.
The Follow app, which is now compatible with Android devices, offers caregivers and people with diabetes the opportunity to track their glucose levels and trends in a convenient and discreet manner on their smart devices. Additionally, patients or “Sharers” can invite up to five people to view their glucose information and send an alert when the Sharer’s glucose levels are beyond the normal range.
By enabling more users to conveniently share glucose readings, DexCom aims to provide its patients and their families with access to the most current technology to better manage diabetes.
The company announced that the app, which is available for free download from the Apple AAPL App Store and the Apple Watch App Store, will now be available for free download on the Google GOOGL Play store for Android users as well.
We feel that DexCom is making significant efforts to provide its patients with access to the most current technology to better manage diabetes. As technology is becoming a more relevant and indispensable part of people’s lives, we feel that such business opportunities will go a long way in enhancing the visibility of DexCom’s products and services.
Moreover, strategic deals with companies like Apple and Google, which have a vast global presence, will boost DexCom’s business scale massively. By expanding its range of solutions and services, DexCom will not only improve its international presence but will also enhance its top-line growth opportunities.
DexCom also has a robust pipeline which is a key growth catalyst in our view. The company’s pipeline comprises the upcoming G5 mobile system (expected to be launched in late 2015), next generation G6 system (scheduled to launch in the first half of 2017), insulin dose plan for current system (under consideration with FDA) and insertion system.
However, higher product development costs, research & development and marketing expenses will continue to hurt margins, which is a concern in the near term.
Stock to Consider
Currently, DexCom carries a Zacks Rank #3 (Hold).
A better-ranked stock in the medical instruments industry is LDR Holding Corp LDRH with a Zacks Rank #1 (Strong Buy).
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