Tandem Diabetes Care, Inc. (NASDAQ:TNDM – Get Free Report) saw an uptick in trading volume on Thursday. Approximately 2,799,359 shares traded hands during trading, an increase of 33% from the previous session’s volume of 2,110,586 shares. The stock last traded at $16.27 and had previously closed at $16.01.
Analysts Set New Price Targets
Several brokerages have weighed in on TNDM. Oppenheimer reaffirmed an “outperform” rating on shares of Tandem Diabetes Care in a research report on Friday, August 7th. UBS Group initiated coverage on shares of Tandem Diabetes Care in a research report on Tuesday, July 28th. They set a “neutral” rating and a $18.00 target price for the company. Truist Financial reduced their price objective on Tandem Diabetes Care from $31.00 to $28.00 and set a “buy” rating for the company in a research report on Thursday, September 24th. Citigroup decreased their target price on Tandem Diabetes Care from $24.00 to $20.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 30th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Tandem Diabetes Care in a research note on Tuesday, September 8th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $27.08.
Read Our Latest Research Report on Tandem Diabetes Care
Tandem Diabetes Care Stock Performance
The company has a debt-to-equity ratio of 4.62, a current ratio of 3.18 and a quick ratio of 2.65. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of -17.17 and a beta of 1.66. The stock has a 50-day moving average of $19.13 and a 200 day moving average of $17.96.
Tandem Diabetes Care (NASDAQ:TNDM – Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The medical device company reported ($0.31) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.32) by $0.01. Tandem Diabetes Care had a negative return on equity of 45.97% and a negative net margin of 6.08%. The business had revenue of $254.56 million for the quarter, compared to analyst estimates of $254.99 million. During the same period last year, the company earned ($0.78) EPS. The firm’s revenue was up 5.8% on a year-over-year basis. On average, analysts expect that Tandem Diabetes Care, Inc. will post -0.66 EPS for the current year.
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in TNDM. Integrated Wealth Concepts LLC acquired a new position in Tandem Diabetes Care during the second quarter valued at approximately $33,000. OP Asset Management Ltd bought a new stake in Tandem Diabetes Care in the 1st quarter valued at about $35,000. Prosperitas Financial LLC bought a new stake in shares of Tandem Diabetes Care during the 2nd quarter valued at $151,000. Proficio Capital Partners LLC bought a new position in Tandem Diabetes Care in the second quarter valued at approximately $180,000. Finally, Leonteq Securities AG raised its stake in Tandem Diabetes Care by 21.7% during the first quarter. Leonteq Securities AG now owns 9,501 shares of the medical device company’s stock worth $182,000 after acquiring an additional 1,695 shares in the last quarter.
Tandem Diabetes Care Company Profile
Tandem Diabetes Care, Inc is a medical device company focused on developing and commercializing advanced insulin delivery systems for people with diabetes. The company’s products are designed to work with continuous glucose monitoring (CGM) systems and digital health tools to help automate and personalize insulin therapy.
Tandem’s product portfolio includes the t:slim X2 insulin pump, which features a rechargeable design and software that supports automated insulin delivery. The company also offers the t:slim X2 pump with Control-IQ technology, an algorithm designed to adjust insulin delivery based on CGM readings, and the compact Tandem Mobi pump.
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