Tandem Diabetes Care (NASDAQ:TNDM) Shares Gap Up on Analyst Upgrade

Tandem Diabetes Care, Inc. (NASDAQ:TNDM)’s share price gapped up before the market opened on Friday after Wall Street Zen upgraded the stock from a sell rating to a hold rating. The stock had previously closed at $13.33, but opened at $16.00. Tandem Diabetes Care shares last traded at $16.3460, with a volume of 541,814 shares.

Other research analysts also recently issued research reports about the stock. Canaccord Genuity Group reiterated a “buy” rating and issued a $24.00 price objective on shares of Tandem Diabetes Care in a research report on Monday, September 29th. UBS Group dropped their price target on shares of Tandem Diabetes Care from $20.00 to $17.00 and set a “neutral” rating on the stock in a research note on Thursday, August 7th. Piper Sandler cut shares of Tandem Diabetes Care from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $30.00 to $14.00 in a research report on Thursday, August 7th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Tandem Diabetes Care in a report on Wednesday, October 8th. Finally, Stifel Nicolaus initiated coverage on shares of Tandem Diabetes Care in a research note on Tuesday, October 21st. They set a “hold” rating and a $15.00 target price for the company. Four analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $21.25.

Insider Activity

In related news, CEO John F. Sheridan purchased 10,000 shares of the company’s stock in a transaction dated Monday, August 11th. The stock was acquired at an average cost of $10.23 per share, for a total transaction of $102,300.00. Following the completion of the transaction, the chief executive officer directly owned 106,327 shares of the company’s stock, valued at approximately $1,087,725.21. This trade represents a 10.38% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.90% of the stock is owned by insiders.

Institutional Trading of Tandem Diabetes Care

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Assetmark Inc. raised its position in shares of Tandem Diabetes Care by 42.9% in the 1st quarter. Assetmark Inc. now owns 1,750 shares of the medical device company’s stock valued at $34,000 after purchasing an additional 525 shares in the last quarter. Amalgamated Bank increased its stake in shares of Tandem Diabetes Care by 3.5% in the third quarter. Amalgamated Bank now owns 19,617 shares of the medical device company’s stock worth $238,000 after buying an additional 657 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in Tandem Diabetes Care by 8.8% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,101 shares of the medical device company’s stock valued at $319,000 after acquiring an additional 1,384 shares in the last quarter. Police & Firemen s Retirement System of New Jersey boosted its stake in Tandem Diabetes Care by 10.1% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 15,299 shares of the medical device company’s stock valued at $285,000 after acquiring an additional 1,399 shares during the last quarter. Finally, State of Wyoming boosted its stake in Tandem Diabetes Care by 49.1% during the 1st quarter. State of Wyoming now owns 4,467 shares of the medical device company’s stock valued at $86,000 after acquiring an additional 1,471 shares during the last quarter.

Tandem Diabetes Care Stock Performance

The company’s fifty day simple moving average is $13.68 and its two-hundred day simple moving average is $16.20. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of -5.33 and a beta of 1.51. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.88 and a current ratio of 2.44.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings results on Thursday, November 6th. The medical device company reported ($0.31) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.31). The business had revenue of $249.25 million during the quarter, compared to the consensus estimate of $235.80 million. Tandem Diabetes Care had a negative return on equity of 68.85% and a negative net margin of 20.19%.The business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the business earned ($0.35) EPS. Tandem Diabetes Care has set its FY 2025 guidance at EPS. Equities research analysts predict that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current fiscal year.

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.