Tandem Diabetes Care Inc (NASDAQ:TNDM)
Tandem Diabetes Care Inc (NASDAQ:TNDM) shares dropped over 23% today on volumes approaching five times their 30-day, daily trading volume average. The catalyst for the drop is unknown and no news was released today by the company or any rating agencies. However it is clear that the price drop on such heavy volume is likely not an outlier. Interestingly, TNDM shares are now trading well below their cash/share value of $0.88 according to the latest available reporting.
As shares of Tandem Diabetes Care Inc (NASDAQ:TNDM) dropped, they also made a new 52-week low. Yesterday the new 52-week low was established at $0.76 but today the drop to $0.58 gave investors a new 52-week low price point. Since its IPO in 2014, TNDM briefly traded above $30 but the downtrend since then has been pronounced and relatively steady. Since that $30 high in early 20-14, only 12 months have ended with TNDM shares trading higher than at the beginning of the month.
Tandem Diabetes Care Inc (NASDAQ:TNDM) is a medical device company that designs, develops, and commercializes products for people that suffer from diabetes. The Sandiego, CA-based company manufactures and sells the t:slim X2 Insulin Pump. The X2 is the slimmest and smallest insulin pump on the market.
Nine investment firms follow Tandem Diabetes Care Inc (NASDAQ:TNDM). Two rate TNDM shares as a “Strong Buy”, six rate the shares a “Hold”, and one rates the shares as an “Underperform”. Sales have been a bright spot for Tandem Diabetes Care Inc (NASDAQ:TNDM). In 2012 they reported sales of $2.5 million followed by annual sales figures of $29 million, $49.7 million, $72.9 million, and 84.2 million for 2016. However, the company has been unable to translate its sales success into a profit for shareholders. Since 2012 TNDM has experienced per share losses. In 2016 shareholders lost (-$2.73) per share and the year prior the loss was (-$2.50).
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
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About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.