Dexcom (DXCOM) is by far the biggest riser today. Shares in the glucose monitoring company have soared 11% to $102.95 on good news from the Center for Medicare and Medicaid Services. A new update on the agency’s website is very positive about using glucose measurement systems like Dexcom’s G7 for Type 2 diabetic patients.

As a result Stifel has raised its price target for Dexcom from $112 to $120. Today’s news follows a boost earlier this week when Dexcom revealed that it was launching its latest G7 product in the UK, Germany and Australia. The shares are up 25% this week, and likely there will be more rises to come.

The beauty of Dexcom’s technology is that it means diabetics no longer have to produce a blood sample several times a day to test for glucose levels. Instead you can attach Dexcom’s sensor to your arm for ten days and the sensor then sends regular updates on glucose levels to the user’s device.

US stock market movers on Friday 7 October 2022