Since last October, there has been a marked reduction in fears about the sales of diabetes drugs dropping as a result weight-loss drugs. That’s because Dexcom (NASDAQ: DXCM ) delivered stronger-than-expected third-quarter results in October. And during its Q3 earnings call, Dexcom actually reported that when diabetes patients are on the GLP-1 drugs, their demand for glucose monitors tend to rise.
Dexcom and other diabetes stocks advanced significantly over the subsequent six months or so, but they have pulled back in recent weeks. With the market for diabetes treatments expected to soar to $223 billion by 2032, up from $89.2 billion in 2022, according to one estimate, I believe that the pullback of names in the space has created an excellent buying opportunity for long-term investors.
Here are the three best diabetes stocks to buy now. Tandem Diabetes Care (TNDM) On May 22, Citi raised its rating on Tandem Diabetes Care (NASDAQ: TNDM ) to “buy” from “neutral.” The bank is bullish on the company’s new insulin delivery system, called Mobi.
Specifically, Citi reports that the early adoption of the product is exceeding the Street’s expectations. The bank also noted that the company’s sales climbed a better-than-expected 12% last quarter versus the same period a year earlier, and Citi believes that the company’s guidance for a 12% increase in sales this year is conservative. Finally, the bank thinks that the upcoming integration of Tandem’s products with those .
