Tandem Diabetes Care, Inc. (NASDAQ:TNDM – Get Free Report)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $18.98 and traded as high as $22.92. Tandem Diabetes Care shares last traded at $22.72, with a volume of 1,686,885 shares.
Analyst Ratings Changes
Several analysts recently issued reports on TNDM shares. Rothschild & Co Redburn set a $45.00 price target on Tandem Diabetes Care in a report on Friday, April 24th. Zacks Research cut Tandem Diabetes Care from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 10th. Barclays set a $55.00 target price on Tandem Diabetes Care and gave the stock an “overweight” rating in a research report on Monday, May 11th. Wells Fargo & Company upgraded Tandem Diabetes Care from a “buy” rating to an “overweight” rating and increased their target price for the company from $21.00 to $27.00 in a research note on Monday, June 1st. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Tandem Diabetes Care in a report on Tuesday, June 23rd. They set a “hold” rating and a $15.50 target price on the stock. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Tandem Diabetes Care has an average rating of “Hold” and a consensus target price of $28.98.
View Our Latest Analysis on Tandem Diabetes Care
Tandem Diabetes Care Stock Performance
Tandem Diabetes Care (NASDAQ:TNDM – Get Free Report) last released 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. The firm had revenue of $254.56 million for the quarter, compared to the consensus estimate of $254.99 million. Tandem Diabetes Care had a negative net margin of 6.08% and a negative return on equity of 45.97%. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.78) EPS. Analysts forecast that Tandem Diabetes Care, Inc. will post -0.65 earnings per share for the current year.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the business. Smartleaf Asset Management LLC boosted its holdings in Tandem Diabetes Care by 80.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,330 shares of the medical device company’s stock valued at $30,000 after purchasing an additional 593 shares during the last quarter. OP Asset Management Ltd purchased a new stake in Tandem Diabetes Care during the 1st quarter worth approximately $35,000. Caitong International Asset Management Co. Ltd raised its position in shares of Tandem Diabetes Care by 200.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 2,205 shares of the medical device company’s stock valued at $27,000 after purchasing an additional 1,470 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Tandem Diabetes Care by 67.4% in the 4th quarter. Van ECK Associates Corp now owns 3,430 shares of the medical device company’s stock valued at $75,000 after purchasing an additional 1,381 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV boosted its stake in shares of Tandem Diabetes Care by 36.0% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 3,431 shares of the medical device company’s stock valued at $75,000 after buying an additional 909 shares during the last quarter.
Tandem Diabetes Care Company Profile
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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