There's nothing like a strategic product rollout to push the price of a stock higher. This was the case with medical device maker DexCom (DXCM -1.05%), which on news of international expansion saw its share price zoom more than 7% higher on Tuesday. That trounced even the robust 3%-plus gain of the S&P 500 index on the day.
DexCom, which specializes in continuous glucose monitoring (CGM) solutions for diabetics, announced earlier in the day that it is expanding into new markets. Specifically, the company's current-generation G7 GCM System is now available for diabetes patients two years of age and older in the U.K., Germany, Austria, and Hong Kong.
Other rollouts are being planned. DexCom said that it is working to launch the G7 in South Africa and New Zealand in the coming weeks. A wider expansion is currently being planned, although the company did not identify any of these markets.
The G7 is worn on the body, and provides real-time glucose level readings that are sent to a user's device.
In its press release trumpeting the latest rollout, the healthcare device maker quoted its CEO Kevin Sayer as saying that the company's CGM offerings have "become the gold standard of care for diabetes, and bringing our technology to more and more people around the world continues to be a top priority."
The U.K. and Germany are particularly ripe markets, as they are populous and relatively affluent countries. Investors are clearly excited about DexCom's prospects there, and looking forward to additional rollouts in the very near future.