I've been a net buyer of stocks lately, but not this week. I unloaded a few of my holdings on Tuesday and Wednesday, including one market laggard that I've owned for nearly a decade. I made just one new stock purchase this week, initiating a position in Livongo Health (NASDAQ: LVGO) on Tuesday.
Livongo Health is tackling health and wellness in a differentiated way, leaning on its growing collection of data and artificial intelligence to arrive at better outcomes. It started out tackling diabetes, with data scientists translating health data into personalized actionable health signals. The end result is a win-win, with the average member seeing a dramatic improvement in blood sugar levels and employers saving on healthcare costs.
Livongo Health has gone on to add weight management, hypertension, and behavioral health to its growing portfolio. Earlier this month it reported preliminary financial results that it will make official in early May. It sees $65.5 million to $66.5 million in revenue for the first three months of this year, well ahead of the $60 million to $62 million it initially offered as guidance, and more than double the $32.1 million it delivered a year earlier.