Why Senseonics Holdings Shares Jumped Today

Shares of Senseonics Holdings (NYSEMKT: SENS) were jumping 10.4% higher as of 2:49 p.m. EST on Wednesday after rising as much as 31.6% earlier in the day. The nice gain came following the medical device maker's announcement on Tuesday that Cigna (NYSE: CI) began covering the Eversense continuous glucose monitoring (CGM) system effective Feb. 15, 2020.

Senseonics has already lined up several major payers to provide coverage for the Eversense CGM, including Aetna (which is now owned by CVS Health) and Humana. The addition of Cigna to the list holds the potential to boost sales for Eversense. Cigna claims over 17 million members across the U.S.

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Source Fool.com