DRIO stock closed strong in after-hours trading on December 4, 2019.
On December 3, 2019, Global digital therapeutics innovation leader, DarioHealth Corp. (NASDAQ: DRIO) announced the launch of the Dario-powered digital diabetes program on Walmart.com.
Walmart is the largest retailer in the world and is the second largest e-commerce retailer in the U.S. It is also an innovator in healthcare, piloting several initiatives such as opening its own Walmart Health centers and creating a Home Health Care section on Walmart.com.
The Dario digital diabetes app is among the most downloaded and highest rated healthcare apps, with a 4.9/5.0 star rating and over 8,000+ reviews on the Apple store. Its Net Promoter Score (NPS), a measure of willingness of customers to recommend a company’s products or services to others, is +77, considered “world class” and the highest in its category, on a -100 – +100 scale.
“Walmart strives to offer its shoppers health solutions that will help them manage their own health in the most efficient way possible. We are excited to access Walmart’s online distribution channel given the extremely high volume of annual visitors. We will offer Walmart’s consumers MyDario™, our complete digital solution to manage diabetes, hypertension, nutrition and exercise. Our system is affordable and supported by a large body of clinical evidence that we believe demonstrates that Dario significantly and quickly improves the health and wellness of its users. We believe that the positive results seen while using our system reinforces engagement and are part of the reason why users rate Dario as one of the best solutions for managing chronic conditions,” said Olivier Jarry, DarioHealth’s President and Chief Commercial Officer.
On December 4, 2019, Craig-Hallum analyst Alexander Nowak lowered his price target for DarioHealth (DRIO) to $12 from $20 following the company’s 1:20 reverse stock split and platform launch on Walmart.com (WMT) and Bestbuy.com (BBY). Overall, he views the Best Buy and Walmart launches as “nice to have,” but reminds investors that direct-to-consumer is not the value-creation driver, and says he prefers to see more of a push into building out the B2B channel, which would allow type 2 diabetes patients to be signed up through an employer, clinic or payer. The analyst keeps a Buy rating on the shares.