Tandem Diabetes Care (NASDAQ:TNDM) Shares Up 4.2%

Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) were up 4.2% on Tuesday . The stock traded as high as $44.49 and last traded at $44.49. Approximately 80,018 shares were traded during trading, a decline of 95% from the average daily volume of 1,638,013 shares. The stock had previously closed at $42.70.

Wall Street Analyst Weigh In

Several brokerages have commented on TNDM. Canaccord Genuity Group initiated coverage on shares of Tandem Diabetes Care in a research report on Thursday, August 8th. They issued a “buy” rating and a $57.00 price target on the stock. Wells Fargo & Company upped their price target on Tandem Diabetes Care from $50.00 to $55.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Piper Sandler reaffirmed an “overweight” rating and set a $55.00 target price (up from $50.00) on shares of Tandem Diabetes Care in a report on Friday, August 2nd. Citigroup raised Tandem Diabetes Care from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $40.00 to $57.00 in a research note on Wednesday, May 22nd. Finally, UBS Group raised shares of Tandem Diabetes Care to a “hold” rating in a research note on Friday, August 2nd. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Tandem Diabetes Care presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.36.

Tandem Diabetes Care Stock Up 2.4 %

The company has a current ratio of 3.05, a quick ratio of 2.38 and a debt-to-equity ratio of 1.31. The firm has a market cap of $2.82 billion, a price-to-earnings ratio of -19.68 and a beta of 1.32. The firm has a 50-day moving average of $42.34 and a two-hundred day moving average of $40.32.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings results on Thursday, August 1st. The medical device company reported ($0.47) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.07. Tandem Diabetes Care had a negative net margin of 17.15% and a negative return on equity of 41.54%. The firm had revenue of $221.90 million during the quarter, compared to the consensus estimate of $205.63 million. During the same period in the prior year, the firm earned ($0.30) EPS. The business’s revenue was up 13.3% on a year-over-year basis. As a group, sell-side analysts predict that Tandem Diabetes Care, Inc. will post -1.76 earnings per share for the current fiscal year.

Institutional Trading of Tandem Diabetes Care

A number of institutional investors and hedge funds have recently modified their holdings of TNDM. GAMMA Investing LLC increased its holdings in Tandem Diabetes Care by 11.2% in the 2nd quarter. GAMMA Investing LLC now owns 4,276 shares of the medical device company’s stock valued at $172,000 after buying an additional 431 shares during the period. MN Wealth Advisors LLC raised its position in Tandem Diabetes Care by 3.1% in the second quarter. MN Wealth Advisors LLC now owns 14,723 shares of the medical device company’s stock worth $593,000 after purchasing an additional 440 shares in the last quarter. MCF Advisors LLC lifted its stake in Tandem Diabetes Care by 79.3% during the first quarter. MCF Advisors LLC now owns 1,006 shares of the medical device company’s stock worth $36,000 after purchasing an additional 445 shares during the period. Signaturefd LLC grew its stake in shares of Tandem Diabetes Care by 29.2% in the 2nd quarter. Signaturefd LLC now owns 2,307 shares of the medical device company’s stock valued at $93,000 after purchasing an additional 522 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Tandem Diabetes Care by 4.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,960 shares of the medical device company’s stock worth $603,000 after buying an additional 592 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.