Is Senseonics Holdings Inc. (SENS) Stock a Good Buy At Around $3?
Senseonics Holdings, Inc. is a potential buy for those who look for a long-term investment. Senseonics Holdings Inc. (NYSEAMERICAN:SENS) is a medical technology company which focuses on the design, development and commercialization of glucose monitoring systems.
The company is vouching on its flagship product Eversense CGM system which is designed to continually measure glucose levels in people with diabetes. Being the only Food and Drug Administration approved long-term continuous glucose monitor,the Eversense CGM system could be a gamechanger in the medial world.
The Company’s Eversense system consists of components, such as a sensor, which is implanted hypodermically in the upper arm by a healthcare provider.Consisting of an external removable smart water-resistant transmitter, it provides real-time glucose readings, alerts and other data on the user’s mobile device. The transmitter receives, assesses and relays the data from the sensor and also provides vibratory alerts.
With its fair share of a topsy turvy ride, the stock of the company has at the end of 2020, the share price was still under $1, but it wouldn’t stay there in 2021. The inside ownership among its current directors and executive officers directs a strong prospect when it comes to investing. News of the company’s collaboration with a Swiss company, Ascensia, to distribute Senseonics’Eversense could turn out to be a major revenue generator.
The first quarter fiscal reports of the company also indicatethe company took in revenues to the tune of $2.85 million.The press release observes that Senseonics’ quarterly revenues were “primarily driven by sales in the E.U.” Thus, the investors should look abroad to find impressive revenue growth.
Looking at the larger picture, it shouldn’t be too long before SENS stock finds itself soaring the sky.
