Tandem Diabetes Care (NASDAQ:TNDM) Trading 7.1% Higher – Time to Buy?

Tandem Diabetes Care, Inc. (NASDAQ:TNDM)’s share price rose 7.1% during trading on Tuesday . The company traded as high as $21.55 and last traded at $21.67. Approximately 563,255 shares were traded during mid-day trading, a decline of 62% from the average daily volume of 1,493,172 shares. The stock had previously closed at $20.23.

Analysts Set New Price Targets

A number of analysts have commented on TNDM shares. Piper Sandler decreased their price target on shares of Tandem Diabetes Care from $36.00 to $30.00 and set an “overweight” rating for the company in a research note on Thursday, May 1st. Mizuho began coverage on shares of Tandem Diabetes Care in a research note on Thursday, April 10th. They set a “neutral” rating and a $20.00 price target on the stock. Wells Fargo & Company reduced their price target on shares of Tandem Diabetes Care from $22.00 to $20.00 and set an “equal weight” rating for the company in a research report on Thursday, May 1st. Stifel Nicolaus dropped their price target on Tandem Diabetes Care from $60.00 to $31.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Finally, Morgan Stanley lowered Tandem Diabetes Care from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $45.00 to $22.00 in a research report on Wednesday, March 5th. Nine investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $35.86.

Tandem Diabetes Care Stock Up 10.4%

The firm has a market capitalization of $1.49 billion, a P/E ratio of -11.59 and a beta of 1.52. The company has a fifty day simple moving average of $19.58 and a 200 day simple moving average of $26.73. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 1.29.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings results on Wednesday, April 30th. The medical device company reported ($0.67) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.07). Tandem Diabetes Care had a negative return on equity of 44.19% and a negative net margin of 14.84%. The company had revenue of $234.42 million during the quarter, compared to analysts’ expectations of $220.19 million. During the same period in the prior year, the firm earned ($0.65) EPS. Tandem Diabetes Care’s revenue for the quarter was up 22.3% compared to the same quarter last year. On average, equities analysts expect that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of TNDM. Smartleaf Asset Management LLC increased its position in shares of Tandem Diabetes Care by 163.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,775 shares of the medical device company’s stock valued at $65,000 after acquiring an additional 1,101 shares in the last quarter. US Bancorp DE boosted its stake in Tandem Diabetes Care by 15.2% during the 4th quarter. US Bancorp DE now owns 38,708 shares of the medical device company’s stock valued at $1,394,000 after purchasing an additional 5,108 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in shares of Tandem Diabetes Care by 22.0% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 6,560 shares of the medical device company’s stock worth $236,000 after purchasing an additional 1,184 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Tandem Diabetes Care by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 7,440,005 shares of the medical device company’s stock worth $267,989,000 after purchasing an additional 77,451 shares during the last quarter. Finally, Private Advisor Group LLC lifted its holdings in shares of Tandem Diabetes Care by 18.1% during the fourth quarter. Private Advisor Group LLC now owns 6,135 shares of the medical device company’s stock valued at $221,000 after purchasing an additional 939 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.