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This Indicator Is Supporting DexCom Inc. (DXCM) Stock

DexCom Inc. (NASDAQ: DXCM), a provider of mobile continuous glucose monitoring systems, is extending its solution offering and working to bring its devices to the mainstream.

The G6 glucose monitor is DexCom Inc. (DXCM)’s main product today. The G6’s sales in the first quarter helped the firm raise revenue by 25% year on year. The firm intends to raise sales by 15-20% for the entire year. However, the business is now working on the certification of a more sophisticated gadget.

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The G7 monitor is both smaller and more precise than its predecessor. The latest version of the monitor has already been certified by the European Union and is available in a number of nations. DexCom’s second-quarter report is expected to illustrate the trends of sales in the European market. The business is waiting for FDA clearance for its G7 device this year in order to begin sales in the United States.

The DexCom ONE gadget is another potential DexCom Inc. (DXCM) advancement. This system is comparable to the G6 and G7 systems, however, it has less sophisticated capabilities. It cannot, for example, share real-time data with family members or healthcare providers. The lower price should help DexCom’s user base grow.

The gadget is now accessible in Spain and the United Kingdom, but DexCom Inc. (DXCM) plans to increase its geographic reach. Furthermore, the business intends to seek FDA approval so that the device may be utilized in inpatient hospital settings.

Remember when DexCom Inc. (DXCM) did a 1:4 stock split in early June? As a result, the security’s price dropped from about $300 to around $74 on the day of the split. DXCM was trading at $74.53 on June 30. DexCom shares were more accessible to investors who trust in the company’s long-term potential as a result of the split.

DexCom Inc. (DXCM)’s glucose monitors are in high demand because diabetic people want to improve their quality of life through continuous diagnostics. As a result, global demand for such gadgets is expected to rise.

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