Tandem Diabetes Care, Inc. (NASDAQ:TNDM – Get Free Report) was up 4.5% during trading on Friday . The stock traded as high as $20.10 and last traded at $20.33. Approximately 350,847 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 2,146,646 shares. The stock had previously closed at $19.45.
Analyst Ratings Changes
Several equities research analysts have issued reports on TNDM shares. Mizuho set a $24.00 price objective on shares of Tandem Diabetes Care in a research note on Friday, May 8th. Stifel Nicolaus raised their target price on shares of Tandem Diabetes Care from $20.00 to $22.00 and gave the company a “hold” rating in a research note on Friday, February 20th. The Goldman Sachs Group set a $21.00 target price on shares of Tandem Diabetes Care in a report on Wednesday, May 27th. Morgan Stanley upped their price target on shares of Tandem Diabetes Care from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Monday, March 2nd. Finally, Barclays set a $55.00 price target on Tandem Diabetes Care and gave the company an “overweight” rating in a report on Monday, May 11th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Tandem Diabetes Care presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.84.
Read Our Latest Analysis on Tandem Diabetes Care
Tandem Diabetes Care Price Performance
Tandem Diabetes Care (NASDAQ:TNDM – Get Free Report) last posted its earnings results on Thursday, May 7th. The medical device company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.16. The business had revenue of $247.22 million for the quarter, compared to analysts’ expectations of $240.41 million. Tandem Diabetes Care had a negative net margin of 9.20% and a negative return on equity of 53.88%. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.66) earnings per share. As a group, analysts forecast that Tandem Diabetes Care, Inc. will post -0.69 earnings per share for the current year.
Hedge Funds Weigh In On Tandem Diabetes Care
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Tandem Diabetes Care by 3.9% in the fourth quarter. Vanguard Group Inc. now owns 7,341,356 shares of the medical device company’s stock valued at $161,363,000 after purchasing an additional 278,042 shares during the last quarter. ArrowMark Colorado Holdings LLC increased its holdings in Tandem Diabetes Care by 36.7% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 3,691,198 shares of the medical device company’s stock worth $44,811,000 after purchasing an additional 991,649 shares during the last quarter. Jennison Associates LLC increased its holdings in Tandem Diabetes Care by 42.3% during the 4th quarter. Jennison Associates LLC now owns 2,021,376 shares of the medical device company’s stock worth $44,430,000 after purchasing an additional 601,260 shares during the last quarter. Freestone Grove Partners LP acquired a new position in shares of Tandem Diabetes Care in the 3rd quarter valued at approximately $22,706,000. Finally, Goldman Sachs Group Inc. raised its position in shares of Tandem Diabetes Care by 17.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,683,400 shares of the medical device company’s stock valued at $37,001,000 after purchasing an additional 252,028 shares in the last quarter.
About Tandem Diabetes Care
Tandem Diabetes Care, Inc (NASDAQ: TNDM), headquartered in San Diego, California, is a medical device company focused on the design, development and commercialization of innovative insulin delivery systems for people with insulin-dependent diabetes. Founded in 2006, the company introduced its first product, the t:slim® Insulin Pump, in 2011 and has since built a portfolio of next-generation pumps featuring touchscreen interfaces, remote software updates and integrated continuous glucose monitoring (CGM) capabilities.
The company’s flagship offering, the t:slim X2® Insulin Pump, is engineered to work with leading CGM sensors and features automated insulin delivery algorithms that adjust basal insulin rates based on real-time glucose trends.
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