Tandem Diabetes Care (NASDAQ:TNDM) shares were slightly up on fourth-quarter results that beat the consensus revenue forecast.
The San Diego-based company posted profits of $10.8 million, or 16¢ per share, on sales of $210 million for the three months ended Dec. 31, 2021, for a 36.4% bottom-line slide on sales growth of 24.9%.
Tandem Diabetes Care’s EPS of 16¢ came in 4¢ behind projections on Wall Street, where analysts were looking for sales of $198.7 million.
Tandem expects sales for 2022 to range between $845 million and $860 million, representing annual sales growth of between 20% and 22%. The company just last week announced the FDA clearance of bolus insulin dosing on the t:slim X2 insulin pump using the t:connect mobile app.
TNDM shares were up 0.1% at $106.26 per share in mid-morning trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was up 0.1%.
