Tandem Diabetes Care (NASDAQ:TNDM) Shares Up 4.8% – What’s Next?

Tandem Diabetes Care, Inc. (NASDAQ:TNDM)’s share price shot up 4.8% during trading on Tuesday . The stock traded as high as $23.24 and last traded at $23.3110. Approximately 78,664 shares changed hands during mid-day trading, a decline of 96% from the average daily volume of 2,139,668 shares. The stock had previously closed at $22.25.

Wall Street Analyst Weigh In

TNDM has been the topic of several analyst reports. Rothschild & Co Redburn set a $45.00 target price on Tandem Diabetes Care in a research report on Friday, April 24th. Oppenheimer reissued an “outperform” rating on shares of Tandem Diabetes Care in a research report on Friday, August 7th. Wells Fargo & Company upgraded Tandem Diabetes Care from a “buy” rating to an “overweight” rating and raised their price objective for the company from $21.00 to $27.00 in a research note on Monday, June 1st. UBS Group started coverage on shares of Tandem Diabetes Care in a report on Tuesday, July 28th. They set a “neutral” rating and a $18.00 price objective on the stock. Finally, The Goldman Sachs Group set a $21.00 target price on shares of Tandem Diabetes Care in a research note on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Tandem Diabetes Care currently has a consensus rating of “Hold” and a consensus price target of $28.98.

Tandem Diabetes Care Stock Performance

The firm has a market cap of $1.63 billion, a PE ratio of -25.23 and a beta of 1.54. The company has a quick ratio of 2.65, a current ratio of 3.18 and a debt-to-equity ratio of 4.62. The company has a 50-day simple moving average of $17.74 and a two-hundred day simple moving average of $19.05.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its earnings results on Thursday, August 6th. The medical device company reported ($0.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.32) by $0.01. The firm had revenue of $254.56 million during the quarter, compared to analyst estimates of $254.99 million. Tandem Diabetes Care had a negative return on equity of 45.97% and a negative net margin of 6.08%.The business’s revenue was up 5.8% compared to the same quarter last year. During the same period last year, the firm posted ($0.78) EPS. As a group, equities research analysts forecast that Tandem Diabetes Care, Inc. will post -0.65 earnings per share for the current year.

Institutional Trading of Tandem Diabetes Care

Several hedge funds have recently added to or reduced their stakes in TNDM. Vanguard Group Inc. increased its stake in shares of Tandem Diabetes Care by 3.9% during the 4th quarter. Vanguard Group Inc. now owns 7,341,356 shares of the medical device company’s stock worth $161,363,000 after purchasing an additional 278,042 shares during the last quarter. Jennison Associates LLC lifted its stake in Tandem Diabetes Care by 42.3% in the fourth quarter. Jennison Associates LLC now owns 2,021,376 shares of the medical device company’s stock valued at $44,430,000 after purchasing an additional 601,260 shares during the last quarter. First Light Asset Management LLC lifted its stake in Tandem Diabetes Care by 20.7% in the first quarter. First Light Asset Management LLC now owns 1,314,715 shares of the medical device company’s stock valued at $25,203,000 after purchasing an additional 225,222 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Tandem Diabetes Care by 42.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 193,556 shares of the medical device company’s stock valued at $3,710,000 after purchasing an additional 57,803 shares during the period. Finally, Renaissance Technologies LLC bought a new position in Tandem Diabetes Care during the first quarter valued at $1,116,000.

About Tandem Diabetes Care

Tandem Diabetes Care, Inc (NASDAQ: TNDM), headquartered in San Diego, California, is a medical device company focused on the design, development and commercialization of innovative insulin delivery systems for people with insulin-dependent diabetes. Founded in 2006, the company introduced its first product, the t:slim® Insulin Pump, in 2011 and has since built a portfolio of next-generation pumps featuring touchscreen interfaces, remote software updates and integrated continuous glucose monitoring (CGM) capabilities.

The company’s flagship offering, the t:slim X2® Insulin Pump, is engineered to work with leading CGM sensors and features automated insulin delivery algorithms that adjust basal insulin rates based on real-time glucose trends.