Tandem Diabetes Care Inc (NASDAQ:TNDM)
Tandem Diabetes Care Inc (NASDAQ:TNDM) stock is up over 50% in early trading on volume, that if continued, would be over 100 times their 30-day, daily average. The market is responding to news that the U.S. Food and Drug Administration (FDA) approved the commercial launch of the t:slim X2™ Insulin Pump with Dexcom G5® Mobile continuous glucose monitoring (CGM) integration. This technology is the first sensor-augmented insulin pump approved to let users make treatment decisions without the need for pricking one’s finger.
About Tandem Diabetes Care Inc.
San Diego, CA-based Tandem Diabetes Care Inc (NASDAQ:TNDM) is a medical device company. The company designs, develops, and commercializes medical deices for people with insulin-dependent diabetes. The company’s flagship product is the t:slim X2 insulin delivery system that comprises t:slim X2 pump, along with a disposable insulin cartridge, and an infusion set. The company also offers its Tandem Device Updater. This web-based system lets users update their pump’s software and adjust the t:connect diabetes management application, a cloud-based data management application, which provides a visual way to display therapy management data from the pump and supported blood glucose meters.
TNDM Stock Performance
Shares of Tandem Diabetes Care Inc (NASDAQ:TNDM) closed Friday at $0.70, then gapped up to open at $0.92 before hitting its inter-day high (a/o 10:45 AMEST) of $1.22. TNDM stock has performed poorly tear-to-date and lost over 67%. For the year they have dropped almost 90%. The company has not been kind to shareholders on the earnings side either. For 2016, the company had an EPS loss of (-$2.73) and has not posted a profit in the past four years. However, sales have been steadily improving. In 2012 the company posted sales of $2.5 million. That annual figure has improved every year and in 2016 the company reported $84.2 million in sales. The analyst’s consensus price target for TNDM stock is $2.88.
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: Marc has a degree in economics and a MSc. in Finance. Over his 20-year career, Marc has worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.