Tandem Diabetes Care Sees Unusually Large Options Volume (NASDAQ:TNDM)

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) was the recipient of unusually large options trading on Tuesday. Stock investors purchased 6,339 call options on the company. This is an increase of 620% compared to the typical volume of 880 call options.

Tandem Diabetes Care Stock Performance

Shares of TNDM opened at $51.39 on Thursday. The stock has a 50-day moving average of $36.78 and a two-hundred day moving average of $28.66. Tandem Diabetes Care has a one year low of $13.82 and a one year high of $52.51. The company has a debt-to-equity ratio of 1.43, a quick ratio of 3.01 and a current ratio of 3.81. The stock has a market cap of $3.32 billion, a P/E ratio of -23.68 and a beta of 1.10.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings data on Wednesday, February 21st. The medical device company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.04). The company had revenue of $196.80 million during the quarter, compared to analyst estimates of $204.86 million. Tandem Diabetes Care had a negative net margin of 18.37% and a negative return on equity of 34.38%. As a group, research analysts predict that Tandem Diabetes Care will post -1.7 EPS for the current year.

Analysts Set New Price Targets

TNDM has been the topic of several research reports. Stifel Nicolaus raised their price objective on Tandem Diabetes Care from $45.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday. Citigroup upgraded Tandem Diabetes Care from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $40.00 to $57.00 in a report on Wednesday. SVB Leerink upgraded Tandem Diabetes Care from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $34.00 to $45.00 in a report on Thursday, April 25th. Barclays lifted their price target on Tandem Diabetes Care from $39.00 to $55.00 and gave the company an “overweight” rating in a report on Monday, May 6th. Finally, StockNews.com upgraded Tandem Diabetes Care from a “sell” rating to a “hold” rating in a report on Friday, April 19th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.73.

Hedge Funds Weigh In On Tandem Diabetes Care

Institutional investors and hedge funds have recently modified their holdings of the stock. Eminence Capital LP lifted its holdings in shares of Tandem Diabetes Care by 76.1% in the 3rd quarter. Eminence Capital LP now owns 5,490,017 shares of the medical device company’s stock valued at $114,028,000 after buying an additional 2,372,458 shares during the period. Russell Investments Group Ltd. increased its stake in shares of Tandem Diabetes Care by 79.5% in the 4th quarter. Russell Investments Group Ltd. now owns 247,325 shares of the medical device company’s stock valued at $7,316,000 after purchasing an additional 109,505 shares in the last quarter. Lisanti Capital Growth LLC purchased a new position in shares of Tandem Diabetes Care in the 4th quarter valued at about $3,132,000. Raymond James & Associates increased its stake in shares of Tandem Diabetes Care by 128.5% in the 4th quarter. Raymond James & Associates now owns 91,985 shares of the medical device company’s stock valued at $2,721,000 after purchasing an additional 51,721 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Tandem Diabetes Care by 4.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 367,011 shares of the medical device company’s stock valued at $7,623,000 after purchasing an additional 16,586 shares in the last quarter.

About Tandem Diabetes Care

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.