Tandem Diabetes Care (NASDAQ:TNDM) Sees Unusually-High Trading Volume – Time to Buy?

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) saw unusually-strong trading volume on Thursday. Approximately 2,799,359 shares changed hands during mid-day 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.

Analyst Ratings Changes

Several research firms have recently issued reports on TNDM. Oppenheimer reissued an “outperform” rating on shares of Tandem Diabetes Care in a research note on Friday, August 7th. Truist Financial dropped their target price on Tandem Diabetes Care from $31.00 to $28.00 and set a “buy” rating on the stock in a research report on Thursday, September 24th. William Blair assumed coverage on Tandem Diabetes Care in a research note on Friday, August 21st. They issued an “outperform” rating for the company. Citigroup cut their price target on Tandem Diabetes Care from $24.00 to $20.00 and set a “neutral” rating for the company in a research note on Wednesday, September 30th. Finally, UBS Group initiated coverage on Tandem Diabetes Care in a report on Tuesday, July 28th. They issued a “neutral” rating and a $18.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Tandem Diabetes Care currently has a consensus rating of “Hold” and an average target price of $27.08.

Tandem Diabetes Care Stock Performance

The company has a market cap of $1.13 billion, a PE ratio of -17.46 and a beta of 1.66. The firm’s fifty day moving average is $18.96 and its 200 day moving average is $17.92. 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 posted its quarterly earnings data on Thursday, August 6th. The medical device company reported ($0.31) earnings per share for the quarter, topping 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 company had revenue of $254.56 million during the quarter, compared to analysts’ expectations of $254.99 million. During the same period in the prior year, the business posted ($0.78) earnings per share. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. As a group, research analysts predict that Tandem Diabetes Care, Inc. will post -0.66 EPS for the current fiscal year.

Institutional Investors Weigh In On Tandem Diabetes Care

Several institutional investors have recently bought and sold shares of TNDM. First Light Asset Management LLC raised its holdings 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 valued at $51,058,000 after acquiring an additional 2,068,838 shares during the last quarter. Engineers Gate Manager LP acquired a new stake in shares of Tandem Diabetes Care in the second quarter worth approximately $976,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Tandem Diabetes Care in the second quarter worth approximately $33,000. Squarepoint Ops LLC acquired a new stake in shares of Tandem Diabetes Care in the second quarter worth approximately $3,280,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Tandem Diabetes Care during the second quarter worth approximately $395,000.

About Tandem Diabetes Care

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.