INMD - 2 Healthcare Stocks Near Their 52-Week Lows That Could Double in Value
2023-10-18 09:53:00 ET
Diabetes care and aesthetics. Those are two areas of healthcare that should provide investors with ample growth opportunities in the long run. Two companies that are in solid positions to capitalize on that potential are DexCom (NASDAQ: DXCM) and InMode (NASDAQ: INMD) . While both of these stocks are struggling this year, down more than 30%, here's why they may not just rally but potentially even double in value.
DexCom makes continuous glucose monitoring (CGM) devices that help people with diabetes easily track their glucose levels. It can make life much easier for millions of people around the world. The company has some attractive growth potential as even people without diabetes could benefit from the devices by adjusting their eating habits if they learn they have high glucose numbers.
Analysts at Grand View Research project that the market for CGMs is expanding at a compound annual rate of 4.4% and will be worth $11.2 billion by 2030. And in the long run, the market may become even larger given the need to treat diabetes may increase.
For further details see:
2 Healthcare Stocks Near Their 52-Week Lows That Could Double in Value