I know Materialize.css has an option to swipe left to dismiss the open sidemenu, but is it possible to open the menu by swiping right as found in most android phones.

I have a meteor.js implementation for a android app and would want to know if such a feature offered out of the box.

Yes, it's possible right out of the box:

enter image description here

Just initialize the plugin like this:

// Initialize collapse button
$(".button-collapse").sideNav();

Demo in Plunker

Demo in Stack Snippets

<!-- begin snippet: js hide: true --> <!-- language: lang-js -->
$(".button-collapse").sideNav();
<!-- language: lang-html -->
<link rel="stylesheet" href="//cdnjs.cloudflare.com/ajax/libs/materialize/0.97.0/css/materialize.css">
<script src="//cdnjs.cloudflare.com/ajax/libs/jquery/2.1.4/jquery.js"></script>
<script src="//cdnjs.cloudflare.com/ajax/libs/materialize/0.97.0/js/materialize.js"></script>

<nav>
  <ul class="right hide-on-med-and-down">
    <li><a href="#!">First Sidebar Link</a></li>
    <li><a href="#!">Second Sidebar Link</a></li>
  </ul>
  <ul id="slide-out" class="side-nav">
    <li><a href="#!">First Sidebar Link</a></li>
    <li><a href="#!">Second Sidebar Link</a></li>
  </ul>
  <a href="#" data-activates="slide-out" class="button-collapse"><i class="mdi-navigation-menu"></i></a>
</nav>
<!-- end snippet -->

For testing, just enable emulation in the chrome developer tools, reload the page, and swipe in from the edge.