2 Medical Device Companies Experiencing Strong Demand Even as Weight-Loss Drugs Rise in Popularity
There's a growing fear among investors that weight-loss drugs and treatments such as Ozempic could negatively impact many businesses, from food companies to healthcare businesses. But there are a couple of medical device makers that are still seeing strong demand for their products even amid the rising popularity of weight-loss treatments.
DexCom (NASDAQ: DXCM) and Abbott Laboratories (NYSE: ABT) are two businesses that are still doing well. Here's why they could continue to be good buys for the foreseeable future.
DexCom makes continuous glucose monitoring (CGM) devices that help people with diabetes track their glucose levels. But investors have been concerned that with the rising popularity of drugs that can help with weight loss, including Wegovy and Ozempic, there will be less of a need for CGMs, and that will hurt the growth prospects of a company like DexCom.
Source Fool.com
Dexcom Inc. Stock
With 25 Buy predictions and not a single Sell prediction Dexcom Inc. is an absolute favorite of our community.
Based on the current price of 58.93 € the target price of 121 € shows a potential of 105.33% for Dexcom Inc. which would more than double the current price.
