Why Tandem Diabetes Stock Just Jumped 22%
Tandem Diabetes Care (NASDAQ: TNDM) stock exploded higher after reporting a sales beat Thursday evening. Analysts forecast the maker of t:slim X2 insulin pumps would lose $0.76 per share on sales of $174 million in 2024's first quarter. Tandem did lose money but only $0.65 per share -- and beat soundly on sales, with revenue of $192.8 million.
Tandem stock opened sharply higher Friday, and as of 3:15 p.m. ET, the stock is up 22%.
Tandem grew Q1 sales 13% year over year on a 9% increase in units shipped. Curiously, Tandem showed its greatest growth -- 67% -- in units sold outside the U.S., while U.S. shipments declined 12%. That translated into only a 1% decline in U.S. revenue, however, while ex-U.S. sales surged 63%.
Source Fool.com
