Tandem Diabetes Care (Nasdaq:TNDM) shares took a hit after hours on fourth-quarter results that came up short of the consensus forecast.
Shares of TNDM fell 8% at $20.74 apiece after the market closed today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — finished the day up 0.2%.
The San Diego-based automated insulin delivery technology developer posted losses of $30 million in the quarter. That equals 46¢ per share on sales of $196.8 million for the three months ended Dec. 31, 2023. The company’s bottom line fell by nearly 90% while sales dipped by 10.8%.
Compared to Wall Street expectations, earnings per share fell 21¢ shy, while sales came up nearly $6 million short.
Get the full story at our sister site, Drug Delivery Business News.