Why Tandem Diabetes Care Stock Rose 17.1% in December

Shares of Tandem Diabetes Care (NASDAQ: TNDM), a medical equipment company that focuses on products for diabetics, such as insulin pumps, climbed 17.1% in December, according to data provided by S&P Global Market Intelligence. The stock was as low as $122.21 on Dec. 2, but steadily climbed throughout the month, and was as high as $153.95 on Dec. 30. Over the past year, the stock has risen more than 30%, and it has a 52-week low of $76.19 and a high of $155.86.

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There are plenty of reasons lately for investors to get behind this stock. The company issued guidance for annual revenue between $685 million and $695 million, representing growth of 37% to 39%, in 2021. Through the first nine months of the year, the company reported earnings per share (EPS) of $0.08, compared to an EPS loss of $0.85, year over year. The most important thing is that the company increased pump shipments in the third quarter by 43% over the same period last year, meaning it is setting itself up for long-term revenue growth as the pumps lead to additional sales of cartridges and renewal pumps, Tandem said in its third-quarter earnings call.

Source Fool.com