Tandem Diabetes Care (NASDAQ:TNDM) Trading 4% Higher

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) traded up 4% during trading on Tuesday . The stock traded as high as $46.15 and last traded at $46.09. 456,284 shares were traded during trading, a decline of 73% from the average session volume of 1,697,968 shares. The stock had previously closed at $44.30.

Wall Street Analyst Weigh In

TNDM has been the subject of several analyst reports. Wells Fargo & Company boosted their target price on shares of Tandem Diabetes Care from $50.00 to $55.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Barclays upped their target price on shares of Tandem Diabetes Care from $55.00 to $58.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. UBS Group raised shares of Tandem Diabetes Care to a “hold” rating in a research report on Friday, August 2nd. Morgan Stanley began coverage on shares of Tandem Diabetes Care in a research report on Thursday, August 22nd. They set an “equal weight” rating and a $45.00 price target on the stock. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $55.00 target price (up previously from $50.00) on shares of Tandem Diabetes Care in a report on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $54.36.

Tandem Diabetes Care Trading Down 0.4 %

The company has a market cap of $2.89 billion, a PE ratio of -20.37 and a beta of 1.28. The company has a debt-to-equity ratio of 1.31, a quick ratio of 2.38 and a current ratio of 3.05. The company has a 50 day simple moving average of $41.81 and a two-hundred day simple moving average of $38.68.

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 during the quarter, compared to analyst estimates of $205.63 million. During the same period in the previous year, the company earned ($0.30) EPS. The company’s revenue for the quarter was up 13.3% on a year-over-year basis. Sell-side analysts forecast that Tandem Diabetes Care, Inc. will post -1.76 EPS for the current year.

Institutional Trading of Tandem Diabetes Care

Several large investors have recently made changes to their positions in TNDM. Jennison Associates LLC lifted its stake in Tandem Diabetes Care by 98.1% in the first quarter. Jennison Associates LLC now owns 2,556,124 shares of the medical device company’s stock valued at $90,512,000 after buying an additional 1,265,534 shares during the period. GW&K Investment Management LLC bought a new stake in shares of Tandem Diabetes Care in the fourth quarter worth about $36,288,000. Fred Alger Management LLC grew its holdings in shares of Tandem Diabetes Care by 45.2% during the second quarter. Fred Alger Management LLC now owns 2,174,107 shares of the medical device company’s stock worth $87,595,000 after buying an additional 677,036 shares in the last quarter. Victory Capital Management Inc. grew its stake in Tandem Diabetes Care by 2,836.2% in the second quarter. Victory Capital Management Inc. now owns 403,370 shares of the medical device company’s stock valued at $16,252,000 after purchasing an additional 389,632 shares in the last quarter. Finally, Kingdon Capital Management L.L.C. grew its stake in Tandem Diabetes Care by 153.9% in the first quarter. Kingdon Capital Management L.L.C. now owns 493,080 shares of the medical device company’s stock valued at $17,460,000 after purchasing an additional 298,880 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.