If you’re in the market for a low-cost investment in a medical device company, I invite you to check out Senseonics Holdings (NYSEAMERICAN:SENS). There may be significant upside in store as SENS stock is cheap now, but could become expensive down the road.

The key to success here, as an investor in Sensonics, is patience. The company doesn’t release news every single day, so there may be quiet periods for weeks at a time.

But then, it sometimes only takes one piece of good news to get a healthcare stock jumping. Since SENS stock is below $5, there’s the possibility that it could double someday.

While offering value to the shareholders, Senseonics hopes to make a positive difference for patients with diabetes. It could be a win-win for everyone involved — except the short sellers who would unwisely bet against this company.

SENS Stock at a Glance

Did SENS stock get caught up in the meme-stock phenomenon earlier this year?

There are signs that the short-squeeze crowd may have been involved. Notably, the share price rallied from less than $1 in January to $5.56 on Feb. 17.

That was definitely a case of “too far, too fast,” however. Painfully, the price chasers got punished as SENS stock slid to $1.71 in May.

Apparently the buyers came back, though, when the stock recovered to $3.50 in June. As of mid-September, the share price is still in that area.

After several months of sideways drift, it might be difficult for some SENS stock holders to stay motivated.

Still, the moment of liftoff could be right around the corner. Keeping up with the latest developments should provide some inspiration to help Senseonics’ stakeholders stay in the trade for a while longer.

A Unique and Profitable Platform

Just to get everyone caught up, Senseonics’ flagship product is known as the Eversense CGM system, where “CGM” stands for Continuous Glucose Monitor.

It features a water-resistant transmitter with on-body vibe alerts, as well as a very small fluorescent sensor. Plus, Eversense includes a mobile app with real-time glucose readings.

Importantly, Eversense is the only Food and Drug Administration (FDA) approved long-term continuous glucose monitor (according to the company, at least).

As you would expect, Eversense is Senseonics’ primary revenue source. Fortunately, it appears that the platform is contributing significantly to the company’s top line.

As revealed in Senseonics’ second-quarter 2021 results, the company’s total revenue for the quarter was $3.29 million. That’s a quantum leap compared to the $0.26 million generated during the second quarter of 2020.

Incidentally, the U.S. revenue was $0.98 million, while the revenue outside the U.S. was $2.31 million.

This suggests that Senseonics is successfully commercializing Eversense in multiple regional markets — not a bad thing at all.

Increasing the Reach

Without a doubt, getting Eversense into more healthcare settings is vital to Senseonics’ profitability.

The shareholders should be glad to know, therefore, that Senseonics achieved a major coup in that area recently.

Reportedly, the company and Ascensia Diabetes Care, Senseonics’ commercialization partner, revealed that that the University Hospitals Accountable Care Organization (UHACO) in Cleveland, Ohio has begun offering the Eversense CGM System to its Medicare enrollees.

More specifically, UHACO has opted to use the Eversense CGM System in eligible patients with type 1 or type 2 diabetes on insulin.

We can only imagine that the executives at Senseonics are quite pleased with this development. Yet, it could also be considered a win for the patients involved.

As UHACO Head of Endocrinology and Diabetes Betul Hatipoglu explains, “The Eversense CGM system delivers industry leading accuracy, an improved patient experience, and an array of unique features that afford people, especially those in the Medicare population, the opportunity to achieve improved health outcomes.”

The Takeaway

It’s highly encouraging to learn that the Eversense platform could potentially help more diabetes patients in the near future.

At the same time, SENS stock seems to be going nowhere fast.

That’s where patience and research come into play. So stay on top of the latest developments with Senseonics, and prepare for more breakthrough moments in 2021.

On the date of publication, neither Louis Navellier nor the InvestorPlace Research Staff member primarily responsible for this article held (either directly or indirectly) any positions in the securities mentioned in this article.

The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

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