SAN DIEGO - DexCom , Inc. (NASDAQ:DXCM), a leader in real-time continuous glucose monitoring (CGM) systems, has announced the launch of a feature allowing its Dexcom (NASDAQ:DXCM) G7 CGM System to connect directly to Apple (NASDAQ:AAPL) Watch. This makes the Dexcom G7 the first and only CGM system to offer real-time glucose readings on a user's wrist without the need for an iPhone to be present.
The new capability is designed to provide convenience and freedom for users, particularly when engaging in activities where carrying a phone is less practical, such as running or dining out. With the direct connection to Apple Watch, Dexcom G7 users can now receive glucose information and personalized alerts directly on their wrist.
The feature is currently available to Dexcom G7 users in the United States, United Kingdom, and Ireland, with plans to expand to additional markets later this month. To utilize the Direct to Apple Watch functionality, users are required to have the Dexcom G7 app version 2.1, an Apple Watch Series 6 or later running watchOS 10 or later, and an iPhone with iOS 17 or later.
The integration of Dexcom G7 with Apple Watch also enables users to monitor other health metrics that can affect glucose levels, such as activity, menstrual cycle, and sleep, through Apple's suite of health features. All data can be securely stored in the Health app, allowing users to have a comprehensive view of their diabetes health information.
Dexcom highlights the flexibility of the G7 system, which can display glucose data on multiple devices simultaneously, including a smartphone, smartwatch, receiver, or connected automated insulin delivery system. This multi-device connectivity is unique to the Dexcom G7.
The company's commitment to innovation is reflected in the words of Jake Leach, Dexcom's executive vice president and chief operating officer, who emphasized that the new feature has been highly requested by users and aligns with their goal of allowing people with diabetes to manage their health how they choose.
For additional information on device compatibility and the Direct to Apple Watch feature, users can visit the Dexcom website. This news is based on a press release statement from DexCom, Inc.
InvestingPro Insights
In light of DexCom's recent launch of the Direct to Apple Watch functionality for its G7 CGM System, investors may be considering the company's financial metrics and market performance. Here are some key insights based on real-time data from InvestingPro:
- DexCom's market capitalization stands at a robust $46.41 billion, reflecting its significant presence in the medical devices sector.
- The company's price-to-earnings (P/E) ratio is currently high at 70.38, indicating that investors may expect substantial earnings growth in the future.
- DexCom has shown a strong revenue growth of 25.78% over the last twelve months as of Q1 2024, which could be a sign of expanding market share and successful product adoption.
In addition to these metrics, two InvestingPro Tips shed light on the company's strategic and financial standing:
1. DexCom's management has been actively engaging in share buybacks, which could signal their confidence in the company's value and future prospects.
2. Despite recent downward revisions in earnings by 11 analysts for the upcoming period, DexCom's stock has experienced significant returns over the last decade, suggesting a history of resilience and long-term value creation.
For readers interested in a deeper analysis, there are 15 additional InvestingPro Tips available for DexCom, which can be accessed through the InvestingPro platform. These include insights into the company's debt levels, liquidity, valuation multiples, and profitability forecasts. To explore these tips and gain comprehensive investment insights, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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