
Wearables, or electronic devices worn to collect health-related data, are fast becoming a public health priority. U.S. Health and Human Services Secretary Robert F. Kennedy Jr. told Congress that HHS will launch one of the largest advertising campaigns in its history to get wearables and continuous glucose monitors (CGMs) onto every wrist and arm in America.
Stocks of companies that sell these devices have seen a surge following his commentary. Abbott Laboratories (ABT) and DexCom (DXCM), in particular, have benefitted. Both firms were already darlings of Wall Street thanks to consistent double-digit revenue growth. Kennedy’s Make America Healthy Again (MAHA) push now constitutes a significant bull case that, if successful, may pull millions of new users into the wearables ecosystem. In turn, these users would add significantly to the top and bottom lines of Abbott and DexCom.
This push to promote wearables is due to the argument that catching and screening diseases early would put less strain on the healthcare sector in the long run. Proponents also believe that wearables promote healthier overall lifestyles.
Stock #1: Abbott Laboratories (ABT)

Abbott already dominates the global CGM market with its FreeStyle Libre platform. The company also offers Lingo, an over-the-counter CGM that targets general consumers outside of its Diabetes Care segment.
In the first quarter, Abbott reported total Medical Devices revenue of $4.9 billion, up 12.6% year over year. Its Diabetes Care sales within that segment were $1.7 billion, up 21.6% annually. Management continues to target $10 billion in annual sales related to Libre devices by 2028.
Supporting the broad appeal and benefits of its wearables, in May, Abbott reported positive results from its REFLECT real-world studies, which found that its CGM tech “helps significantly reduce the risk of hospitalization for heart complications in people with diabetes.”
With support from MAHA proponents and the HHS, these sales figures could get a boost. Abbott Laboratories could also gain significant pricing power if the HHS chooses to subsidize its wearables.
Abbott Laboratories has already been one of the best-performing names in healthcare in the past year. The stock is up 30.9% over the past 52 weeks.
Out of 26 analysts, 18 tag it as a “Strong Buy,” with a mean price target of $143.65.

Stock #2: DexCom (DXCM)

Dexcom offers several CGM products, includings its Dexcom G7, which connects directly to Apple Watches.
Plus, Dexcom’s Stelo, which is an over-the-counter CGM targeting wellness-focused users, has already attracted 140,000 subscribers as of the end of 2024.
DexCom reported revenue of $1.04 billion for Q1, up 14% on an organic basis, which DexCom defines as excluding non-CGM revenue. Management said that Q1 marked the second straight quarter of reaccelerating revenue growth, and that the company navigated supply chain issues and expanded access and coverage to its CGMs. For the full year, DexCom forecasts revenue growth of 14%.
Just like with Abbott, a decision from the HHS to subsidize or otherwise support wearables for every American could cause explosive sales growth and give DexCom more room to push prices higher.
DXCM stock has been struggling ever since the stock peaked in 2021. It is still down over 47% from those highs, but the stock popped nearly 10% Kennedy’s comments. If the government starts aggressively promoting wearables, this may be the catalyst that causes DXCM stock to pick up steam again.
Out of 25 analysts, 20 tag it a “Strong Buy,” with a mean price target of $99.68.
