DXCM - Why DexCom Was Such a Healthy Stock Today
There's nothing like a strategic product rollout to push the price of a stock higher. This was the case with medical device maker DexCom (NASDAQ: DXCM) , which on news of international expansion saw its share price zoom more than 7% higher on Tuesday. That trounced even the robust 3%-plus gain of the S&P 500 index on the day.
DexCom, which specializes in continuous glucose monitoring (CGM) solutions for diabetics, announced earlier in the day that it is expanding into new markets. Specifically, the company's current-generation G7 GCM System is now available for diabetes patients two years of age and older in the U.K., Germany, Austria, and Hong Kong.
Other rollouts are being planned. DexCom said that it is working to launch the G7 in South Africa and New Zealand in the coming weeks. A wider expansion is currently being planned, although the company did not identify any of these markets.
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Why DexCom Was Such a Healthy Stock Today