Sunshine Heart Still Has Love From Cashtaggers Despite 20% Drop
Sunshine Heart, $SSH broke some hearts Tuesday. Shares of the medical device company plummeted after the company reported a greater-than-expected fourth quarter loss before the bell. The company also disappointed with the number of new patients it had enrolled in the U.S. to try out its C-Pulse Counter HF, intended to help people with congestive heart failure.
Despite the bad news, most cashtaggers weren’t willing to end their relationship with the stock. They said that the company’s fundamentals warranted a higher price and that the sell-off was overdone. The stock was among the top trending tickers on StockTwits.com
$SSH added here…too cheap
— fayez haroun (@victor521) Mar. 11 at 02:04 PM
The stock fell more than 19% intra day. The company reported a $0.42 per share loss in the fourth quarter, two cents greater than consensus estimates. It also enrolled just three new U.S. patients in its C-Pulse System trial. The vehemence of the negative move based on the patient data surprised many.
— k d (@furious) Mar. 11 at 01:51 PM
$SSH deserves a much higher market cap given the potential. Company expects to be published in major cardiovascular journal in 2nd quarter.
— michael jordan (@michael11) Mar. 11 at 05:57 AM
Sunshine Health has a market cap of $109.45 Million. It has $59.81 Million in cash Surely, some cashtaggers said, the company is worth more than $50 Million. Especially when its heart system is already approved in Europe and the addressable market in the U.S. is so big. About 5.1 million people in the U.S. are in congestive heart failure, a condition in which the heart fails to pump enough blood and oxygen to support other organs. One in 9 deaths in 2009 included heart failure as a cause, according to the Centers for Disease Control and Prevention. Heart failure costs the U.S. $32 billion each year, according to the CDC.
$SSH 100M cap 50M cash…surely the whole company is worth more than 50M
— fayez haroun (@victor521) Mar. 11 at 01:51 PM
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