Tandem Diabetes Care (NASDAQ:TNDM) Trading Down 8.1% – What’s Next?

Tandem Diabetes Care, Inc. (NASDAQ:TNDM)’s stock price was down 8.1% during trading on Thursday . The company traded as low as $34.13 and last traded at $34.47. Approximately 393,548 shares changed hands during trading, a decline of 75% from the average daily volume of 1,597,899 shares. The stock had previously closed at $37.50.

Analyst Upgrades and Downgrades

TNDM has been the subject of a number of analyst reports. Canaccord Genuity Group initiated coverage on shares of Tandem Diabetes Care in a research note on Thursday, August 8th. They set a “buy” rating and a $57.00 price target for the company. Wells Fargo & Company lifted their price target on Tandem Diabetes Care from $50.00 to $55.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. UBS Group raised shares of Tandem Diabetes Care to a “hold” rating in a report on Friday, August 2nd. Canaccord Genuity Group initiated coverage on shares of Tandem Diabetes Care in a research note on Thursday, August 8th. They issued a “buy” rating and a $57.00 target price for the company. Finally, The Goldman Sachs Group started coverage on shares of Tandem Diabetes Care in a research note on Friday, October 4th. They set a “neutral” rating and a $46.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Tandem Diabetes Care presently has a consensus rating of “Moderate Buy” and an average price target of $55.13.

Tandem Diabetes Care Trading Down 7.2 %

The company has a market capitalization of $2.28 billion, a P/E ratio of -16.89 and a beta of 1.33. The business has a 50 day moving average price of $42.06 and a 200 day moving average price of $41.89. The company has a current ratio of 3.05, a quick ratio of 2.38 and a debt-to-equity ratio of 1.31.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its earnings results on Thursday, August 1st. The medical device company reported ($0.47) earnings per share for the quarter, topping the consensus estimate of ($0.54) by $0.07. Tandem Diabetes Care had a negative return on equity of 41.54% and a negative net margin of 17.15%. The firm had revenue of $221.90 million for the quarter, compared to analyst estimates of $205.63 million. During the same period in the previous year, the company posted ($0.30) earnings per share. The company’s revenue for the quarter was up 13.3% on a year-over-year basis. Analysts anticipate that Tandem Diabetes Care, Inc. will post -1.76 EPS for the current year.

Institutional Investors Weigh In On Tandem Diabetes Care

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its holdings in Tandem Diabetes Care by 11.2% during the second quarter. GAMMA Investing LLC now owns 4,276 shares of the medical device company’s stock worth $172,000 after acquiring an additional 431 shares in the last quarter. MN Wealth Advisors LLC grew its stake in shares of Tandem Diabetes Care by 3.1% in the second quarter. MN Wealth Advisors LLC now owns 14,723 shares of the medical device company’s stock valued at $593,000 after buying an additional 440 shares in the last quarter. MCF Advisors LLC increased its holdings in Tandem Diabetes Care by 79.3% during the first quarter. MCF Advisors LLC now owns 1,006 shares of the medical device company’s stock worth $36,000 after buying an additional 445 shares during the last quarter. Signaturefd LLC raised its position in Tandem Diabetes Care by 29.2% during the second quarter. Signaturefd LLC now owns 2,307 shares of the medical device company’s stock worth $93,000 after acquiring an additional 522 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Tandem Diabetes Care by 4.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,960 shares of the medical device company’s stock worth $603,000 after acquiring an additional 592 shares in the last quarter.

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.