Here's Why Tandem Diabetes Care Fell 18.6% in September
Shares of Tandem Diabetes Care (NASDAQ: TNDM) slipped over 18% last month, according to data from S&P Global Market Intelligence. There wasn't any company-specific news, but a number of high-growth stocks lost ground in September as investors took some gains off the table for the overachievers. The insulin pump device and software developer was an easy target, considering it set an all-time high market valuation of over $4 billion in early September.
Now valued at $3.3 billion, Tandem Diabetes Care remains relatively expensive. The stock trades at about 10 times expected revenue for this year and over 23 times book value. But the business is poised to reach an important milestone in the second half of 2019.
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Source Fool.com
