Tandem Diabetes Care (NASDAQ:TNDM) Shares Up 4.5% – Here’s What Happened

Tandem Diabetes Care, Inc. (NASDAQ:TNDM)’s share price shot up 4.5% during mid-day trading on Thursday . The company traded as high as $20.13 and last traded at $19.5750. 990,308 shares changed hands during trading, a decline of 45% from the average session volume of 1,811,167 shares. The stock had previously closed at $18.74.

Analyst Ratings Changes

A number of analysts have recently commented on TNDM shares. Oppenheimer initiated coverage on Tandem Diabetes Care in a research note on Monday, September 8th. They issued an “outperform” rating and a $22.00 price objective on the stock. Barclays raised their price objective on Tandem Diabetes Care from $51.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday, November 10th. Citigroup reissued a “neutral” rating and issued a $15.00 target price (up from $11.00) on shares of Tandem Diabetes Care in a research note on Tuesday, October 7th. UBS Group cut their price objective on shares of Tandem Diabetes Care from $20.00 to $17.00 and set a “neutral” rating on the stock in a research report on Thursday, August 7th. Finally, Royal Bank Of Canada dropped their price objective on Tandem Diabetes Care from $45.00 to $25.00 and set an “outperform” rating for the company in a report on Thursday, August 7th. Four investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $21.25.

Tandem Diabetes Care Price Performance

The firm’s 50 day simple moving average is $14.56 and its 200 day simple moving average is $16.19. The stock has a market capitalization of $1.32 billion, a PE ratio of -6.40 and a beta of 1.51. The company has a debt-to-equity ratio of 2.33, a current ratio of 2.44 and a quick ratio of 1.90.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings results on Thursday, November 6th. The medical device company reported ($0.31) earnings per share for the quarter, hitting the consensus estimate of ($0.31). Tandem Diabetes Care had a negative return on equity of 73.97% and a negative net margin of 20.19%.The firm had revenue of $249.25 million during the quarter, compared to analysts’ expectations of $235.80 million. During the same quarter in the previous year, the business earned ($0.35) earnings per share. The company’s revenue was up 2.2% on a year-over-year basis. Tandem Diabetes Care has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current fiscal year.

Institutional Investors Weigh In On Tandem Diabetes Care

A number of hedge funds have recently modified their holdings of the company. Envestnet Asset Management Inc. grew its holdings in Tandem Diabetes Care by 25.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 318,530 shares of the medical device company’s stock worth $6,103,000 after acquiring an additional 64,467 shares in the last quarter. Allianz Asset Management GmbH acquired a new position in Tandem Diabetes Care in the 1st quarter valued at about $205,000. 1492 Capital Management LLC purchased a new position in shares of Tandem Diabetes Care during the first quarter valued at approximately $430,000. Cetera Investment Advisers grew its position in Tandem Diabetes Care by 31.8% during the first quarter. Cetera Investment Advisers now owns 18,700 shares of the medical device company’s stock valued at $358,000 after acquiring an additional 4,515 shares during the period. Finally, Assetmark Inc. grew its holdings in Tandem Diabetes Care by 42.9% during 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.

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.