Tandem Diabetes Care (TNDM) plans to file an application seeking FDA approval for use of its Control-IQ technology in t: slim X2 insulin pumps for patients aged 14 and above.
Tandem Diabetes Care’s (TNDM) automated insulin delivery system predicts a patient’s glucose levels in advance and suspends insulin dosage if there is a chance of a hypoglycemic event.
Tandem Diabetes Care (TNDM) stock grew from $2.36 on December 29, 2017, to reach $37.31 at the close of market on December 28, 2018, an increase of ~1,481% this year.
This month, of the total ten analysts covering Tandem Diabetes Care (TNDM), seven have given the stock a “buy” or higher rating and three have given it a “hold” rating.
Tandem Diabetes Care’s (TNDM) key focus is its t:slim X2 insulin delivery system, which is designed to display continuous glucose monitoring directly on a pump’s home screen.
In the US and international markets, Johnson & Johnson’s Diabetes Care segment generated third-quarter net revenues of $125.0 million and $190.0 million, respectively.
The cost of goods sold incurred by Tandem Diabetes Care (TNDM) is expected to increase in line with revenues by 55.66% from $14.4 million in the third quarter of fiscal 2017 to $22.41 million in the third quarter of fiscal 2018.
From $8.80 on May 8, Tandem Diabetes Care’s (TNDM) stock price steadily rose to a high of $33.44 on August 3. It recovered after that to its current level of $30.75.
Tandem Diabetes Care (TNDM) is slated to begin its international expansion later this year to capture opportunities arising after Johnson & Johnson’s (JNJ) exit from the insulin pump market, which was announced in October 2017.
On June 26, Tandem Diabetes Care (TNDM) ended the trading day at $23.64, ~7.3% lower than its 52-week low of $25.50 reached on June 22, triggered by news of the FDA’s approval of the company’s new insulin pump.
Apart from selling insulin pumps, Tandem Diabetes Care (TNDM) also sells disposable products that are used together with pumps and are replaced every few days.
Tandem Diabetes Care (TNDM) incurred selling, general, and administrative expenses of $20.9 million in Q1 2018 as compared with $22.8 million in Q1 2017.
Five of the total six analysts covering Tandem Diabetes Care in June have given the stock a “buy” or a higher rating, while one analyst has given it a “hold” rating.
Today, Tandem Diabetes Care (TNDM) opened~16.2% higher than yesterday’s closing price of $20.31, triggered by the news of FDA approval of its t:slim X2 insulin pump with Basal IQ technology.
