Tandem Diabetes Care (NASDAQ:TNDM) Stock Price Up 4% – Still a Buy?

Tandem Diabetes Care, Inc. (NASDAQ:TNDM)’s share price traded up 4% during trading on Friday. The stock traded as high as $17.15 and last traded at $17.1790. 476,218 shares were traded during trading, a decline of 77% from the average daily volume of 2,111,447 shares. The stock had previously closed at $16.52.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TNDM. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $26.00 price target (down from $30.00) on shares of Tandem Diabetes Care in a report on Friday, August 7th. Truist Financial dropped their price objective on Tandem Diabetes Care from $31.00 to $28.00 and set a “buy” rating for the company in a report on Thursday, September 24th. Oppenheimer reaffirmed an “outperform” rating on shares of Tandem Diabetes Care in a research report on Friday, August 7th. Citigroup dropped their price objective on shares of Tandem Diabetes Care from $24.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 30th. Finally, William Blair initiated coverage on shares of Tandem Diabetes Care in a research report on Friday, August 21st. They set an “outperform” rating for the company. 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $27.08.

Tandem Diabetes Care Stock Up 1.8%

The firm has a 50 day moving average price of $19.08 and a 200-day moving average price of $17.93. The firm has a market cap of $1.17 billion, a PE ratio of -18.10 and a beta of 1.66. The company has a current ratio of 3.18, a quick ratio of 2.65 and a debt-to-equity ratio of 4.62.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its earnings results on Thursday, August 6th. The medical device company reported ($0.31) EPS for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.01. Tandem Diabetes Care had a negative net margin of 6.08% and a negative return on equity of 45.97%. The business had revenue of $254.56 million for the quarter, compared to analysts’ expectations of $254.99 million. During the same period in the previous year, the company posted ($0.78) EPS. The company’s quarterly revenue was up 5.8% on a year-over-year basis. Research analysts forecast that Tandem Diabetes Care, Inc. will post -0.66 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in TNDM. First Light Asset Management LLC grew its position in shares of Tandem Diabetes Care by 157.4% during the second quarter. First Light Asset Management LLC now owns 3,383,553 shares of the medical device company’s stock worth $51,058,000 after buying an additional 2,068,838 shares in the last quarter. Defilade Capital Management L.P. acquired a new position in Tandem Diabetes Care during the 1st quarter valued at approximately $14,606,000. Quantinno Capital Management LP boosted its position in Tandem Diabetes Care by 123.5% during the 1st quarter. Quantinno Capital Management LP now owns 653,870 shares of the medical device company’s stock valued at $12,535,000 after purchasing an additional 361,361 shares during the period. First Trust Advisors LP bought a new position in Tandem Diabetes Care during the 1st quarter worth $6,570,000. Finally, Beaconlight Capital LLC acquired a new position in shares of Tandem Diabetes Care during the first quarter valued at $4,867,000.

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.