Tandem Diabetes Care (NASDAQ:TNDM) Stock Price Up 7.1% – Should You Buy?

Tandem Diabetes Care, Inc. (NASDAQ:TNDM)’s share price was up 7.1% during mid-day trading on Tuesday . The company traded as high as $21.55 and last traded at $21.67. Approximately 563,255 shares traded hands during mid-day trading, a decline of 62% from the average daily volume of 1,493,172 shares. The stock had previously closed at $20.23.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TNDM. Robert W. Baird dropped their target price on Tandem Diabetes Care from $33.00 to $24.00 and set a “neutral” rating for the company in a research report on Thursday, May 1st. Canaccord Genuity Group raised their target price on Tandem Diabetes Care from $58.00 to $59.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. Sanford C. Bernstein lowered Tandem Diabetes Care from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $35.00 to $25.00 in a research report on Friday, February 28th. Barclays reduced their price objective on shares of Tandem Diabetes Care from $60.00 to $53.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. Finally, Stifel Nicolaus lowered their target price on shares of Tandem Diabetes Care from $60.00 to $31.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Nine equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $35.86.

Tandem Diabetes Care Stock Up 10.4%

The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 1.29. The company has a market capitalization of $1.49 billion, a P/E ratio of -11.59 and a beta of 1.52. The stock has a 50 day moving average price of $19.58 and a 200 day moving average price of $26.73.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its earnings results on Wednesday, April 30th. The medical device company reported ($0.67) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.07). Tandem Diabetes Care had a negative return on equity of 44.19% and a negative net margin of 14.84%. The firm had revenue of $234.42 million during the quarter, compared to analyst estimates of $220.19 million. During the same period in the previous year, the company earned ($0.65) EPS. Tandem Diabetes Care’s revenue for the quarter was up 22.3% on a year-over-year basis. On average, research analysts anticipate that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tandem Diabetes Care

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of Tandem Diabetes Care by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 7,440,005 shares of the medical device company’s stock worth $267,989,000 after acquiring an additional 77,451 shares during the last quarter. Sessa Capital IM L.P. acquired a new stake in Tandem Diabetes Care during the 1st quarter valued at approximately $85,574,000. GW&K Investment Management LLC raised its holdings in Tandem Diabetes Care by 34.9% during the 1st quarter. GW&K Investment Management LLC now owns 2,863,987 shares of the medical device company’s stock worth $54,874,000 after purchasing an additional 740,499 shares during the last quarter. ArrowMark Colorado Holdings LLC raised its holdings in Tandem Diabetes Care by 14.1% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 2,723,715 shares of the medical device company’s stock worth $98,108,000 after purchasing an additional 337,026 shares during the last quarter. Finally, Stephens Investment Management Group LLC lifted its position in shares of Tandem Diabetes Care by 9.7% in the 1st quarter. Stephens Investment Management Group LLC now owns 1,706,915 shares of the medical device company’s stock worth $32,704,000 after purchasing an additional 151,106 shares during the period.

Tandem Diabetes Care Company Profile

Tandem Diabetes Care, Inc, a medical device company, designs, develops, and commercializes technology solutions for people living with diabetes in the United States and internationally. The company's flagship product is the t:slim X2 insulin delivery system, a pump platform for managing insulin delivery and display continuous glucose monitoring sensor information directly on the pump home screen; and Tandem Mobi insulin pump, an automated insulin delivery system.