SENS Stock
SENS Stock

Senseonics Holdings, Inc. (SENS) is a leading medical technology company engaged in the production of glucose monitoring products used by diabetes patients. The company’s CGM systems, Eversense, Eversense E3, and Eversense XL include a small sensor inserted in the dermal layer which connects with a smart transmitter worn over the sensor. The glucose results are sent automatically to a mobile app every 5 minutes.

SENS stock price during the regular trading on February 11, 2022, with a 33.7% drop was $2.42. At last check in the current market on February 14, 2022, the stock further plummeted by 7.44%.

SENS: Events and Happenings

On February 11, 2022, SENS updated that FDA had approved its next-generation Eversense E3 CGM Portfolio. It includes the exclusive sacrificial boronic acid technology to increase the durability to 6 months. Eversense E3 will be available via the company’s global commercial partner ‘Ascensia Diabetes Care’, in Q2 2022.

On January 5, 2022, SENS updated that it had completed the equity grants to its employees under Inducement Plan 2019 in relation to American Company Guide Section 711(a). On December 21, 2021, SENS announced its entry into a CE mark of the Eversense NOW Remote Monitoring App for iOS systems.

SENS: Key Financials

SENS released its unaudited financial results on November 9, 2021, for the fiscal quarter ended September 30, 2021. Some of the key highlights are discussed below.

Revenue

Total revenue in the quarter in 2021 was $3.5 million compared to $0.8 million in the same period in 2020. The total revenue increased over the yearly period. The company missed the analysts’ estimated revenue by $34.4 thousand.

EPS

Basic and diluted net income per share in the quarter in 2021 was $42.9 million or $0.10 opposed to a net loss of $23.4 million or $0.10 in the same quarter of 2020. The EPS increased over the yearly period by $66.3 million. The company beat the analysts’ estimates by $0.14 per share.

On November 8, 2021, SENS informed about its Executive management’s participation at the following investor conferences.

  • Stifel 2021 Healthcare Virtual Conference on November 16, 2021, and
  • Jefferies London Healthcare Conference on November 18, 2021.

Conclusion

SENS stock downplayed by 54% in the past year as the world was in a pandemic crisis. The recent stock drop is the result of the company’s recent multiple SEC filings of the amended statement of ownership. Although the company announced FDA approval for its Eversense E3 system, its stock has not shown any hopeful signs. As SENS is approaching its earnings release date, the analysts are expecting a $3.96 million revenue and -$0.03 EPS.

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