Senseonics hit as Raymond James cautions on glucose monitor

Senseonics Holdings (NYSEMKT:SENS) has slipped 5.8% after a downgrade to Market Perform by Raymond James, from Outperform.

The firm’s worried about slow uptake on Senseonics’ Eversense implantable continuous glucose monitoring device, which was hamstrung early by slow FDA adoption that delayed its launch. It’s a novel device that has a market, but lack of payer coverage puts Senseonics at a disadvantage, the firm says.

It also argues the Street’s 2020 take looks rich, saying the path to profitability will probably call for more capital at some point.

While sell-side analysts rate it Outperform on average, Seeking Alpha authors are Neutral, and the stock has a Quant Rating of Very Bearish.

https://seekingalpha.com/news/3475902-senseonics-minus-5_8-percent-raymond-james-cautions-cgm-device