IS Senseonics (SENS) stock A Good Buy After The Recent Correction?
2:55 am Tuesday, July 13th, 2021
When a stock rallies strongly for a reasonable period of time, then it is only natural for investors to get interested in the stock and that might currently be the case with the Senseonics (NYSEAMERICAN:SENS) stock. Over the course of the past month the medical device manufacturing firm has seen its stock rallying steadily.
The rally in the stock has come about due to positive results from the tests related to its glucose monitoring system. In addition to that, the higher short interest in the Senseonics stock also made it a target for a short squeeze and that further added fuel to the rally. The glucose monitoring system being developed by the company clearly has potential but at the same time experts believe that investors could consider waiting for a correction before moving in.
The company is a specialist in the development of glucose monitors that can be implanted into patients. More importantly, the positive test results is a shot in the arm for Senseonics because the size of this market is expected to hit $12 billion by 2026. The company also signed an agreement with Ascensia Diabetes Care by way of which the latter is going to handle its product distribution work. On the other hand, there are other companies which are working on similar products at this point as well.
While it is true that Senseonics seems to be moving the right direction and has managed to record handsome returns for its stock holders over the past year, it might be a good move if investors wait a bit for a correction.
