DexCom Rallies on Apple Decision

Apple begins supporting Dexom’s glucose monitoring sensor

Previously Apple Watch only supported 3rd party Apps through iPhone

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#DexCom $DXCM is a medical device company. It focuses on the design, development, and commercialization of continuous glucose monitoring (CGM) systems in the United States and internationally. The company offers its systems for ambulatory use by people with diabetes; and for use by healthcare providers in the hospital for the treatment of patients with and without diabetes.

The company reported a loss of $0.49 per share in Q1 of 2017,  six cents better than the Consensus Estimate. Total revenue grew to $142 million, reflecting an increase of 22.4% from $116 million in the year-ago quarter. However, the figure was two million below the estimates. Since the report, shares have been under pressure due to the mixed report. To add to its woes, market chatter had it that Apple will offer its glucose monitoring system.

At Apple’s annual developer conference currently underway, the company’s vice-president of technology Kevin Lynch said that Apple $AAPL will release a new bluetooth API for Apple Watch, its fitness-tracking gadget. Users would be able to link their Apple watch to a glucose sensor from DexCom. Previously, developers building health sensors would need to communicate with the iPhone over Bluetooth — but not with Apple Watch.

Health developers say this is a promising sign that Apple will open up new pathways for them to create their own interchangeable watch bands laden with health sensors. Health startups are already building watch bands, which use sophisticated sensors to track health conditions.

PRICE ACTION:

DXCM last traded at $71.15, up more than 5 percentage points on the day. It has a 52-weeks trading range of $57.68 to $96.38.

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The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility.

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