Tandem Diabetes Care (NASDAQ:TNDM) Shares Gap Up – Time to Buy?

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) gapped up prior to trading on Friday. The stock had previously closed at $17.51, but opened at $19.00. Tandem Diabetes Care shares last traded at $19.20, with a volume of 552,679 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on TNDM shares. William Blair assumed coverage on Tandem Diabetes Care in a research note on Friday, August 21st. They issued an “outperform” rating on the stock. Canaccord Genuity Group set a $40.00 price target on shares of Tandem Diabetes Care in a report on Friday, August 7th. Weiss Ratings restated a “sell (e+)” rating on shares of Tandem Diabetes Care in a research report on Tuesday, September 8th. Oppenheimer reaffirmed an “outperform” rating on shares of Tandem Diabetes Care in a report on Friday, August 7th. Finally, Mizuho set a $20.00 price objective on shares of Tandem Diabetes Care in a report on Friday, November 6th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Tandem Diabetes Care presently has a consensus rating of “Hold” and a consensus price target of $27.18.

Tandem Diabetes Care Stock Performance

The company has a market cap of $1.36 billion, a P/E ratio of -27.06 and a beta of 1.59. The company has a quick ratio of 2.65, a current ratio of 3.20 and a debt-to-equity ratio of 4.47. The company has a 50 day moving average price of $17.41 and a 200-day moving average price of $18.84.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings data on Thursday, November 5th. The medical device company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.15. Tandem Diabetes Care had a negative net margin of 4.58% and a negative return on equity of 35.61%. The business had revenue of $283.69 million for the quarter, compared to analysts’ expectations of $265.85 million. During the same period in the previous year, the business earned ($0.31) earnings per share. The company’s revenue was up 13.8% on a year-over-year basis. Equities analysts expect that Tandem Diabetes Care, Inc. will post -0.61 EPS for the current fiscal year.

Insider Transactions at Tandem Diabetes Care

In other Tandem Diabetes Care news, Director Christopher J. Twomey sold 1,700 shares of the firm’s stock in a transaction dated Tuesday, October 27th. The shares were sold at an average price of $19.15, for a total transaction of $32,555.00. Following the transaction, the director owned 24,434 shares of the company’s stock, valued at approximately $467,911.10. This trade represents a 6.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.10% of the stock is owned by corporate insiders.

Institutional Trading of Tandem Diabetes Care

Institutional investors have recently made changes to their positions in the stock. Gabelli Funds LLC increased its stake in shares of Tandem Diabetes Care by 24.3% during the third quarter. Gabelli Funds LLC now owns 128,000 shares of the medical device company’s stock valued at $2,088,000 after acquiring an additional 25,000 shares during the period. GW&K Investment Management LLC lifted its position in Tandem Diabetes Care by 13.0% in the third quarter. GW&K Investment Management LLC now owns 2,903,529 shares of the medical device company’s stock worth $47,357,000 after purchasing an additional 334,497 shares during the period. Public Sector Pension Investment Board lifted its position in Tandem Diabetes Care by 0.7% in the third quarter. Public Sector Pension Investment Board now owns 237,049 shares of the medical device company’s stock worth $3,891,000 after purchasing an additional 1,591 shares during the period. Banco Santander S.A. lifted its position in Tandem Diabetes Care by 3.4% in the third quarter. Banco Santander S.A. now owns 152,200 shares of the medical device company’s stock worth $2,482,000 after purchasing an additional 5,000 shares during the period. Finally, Intech Investment Management LLC boosted its stake in Tandem Diabetes Care by 8.6% during the 3rd quarter. Intech Investment Management LLC now owns 88,064 shares of the medical device company’s stock valued at $1,436,000 after purchasing an additional 6,993 shares in the last quarter.

Tandem Diabetes Care Company Profile

Tandem Diabetes Care develops and commercializes technology for people who use insulin to manage diabetes. Its products include insulin pumps, infusion sets and related supplies, along with software for viewing and sharing diabetes-management data. The company’s offerings include the t:slim X2 insulin pump and the Tandem Mobi pump, as well as Control-IQ technology, which can automatically adjust insulin delivery based on continuous glucose monitor readings when used with compatible devices. Tandem also provides mobile apps and cloud-based tools to support users and healthcare providers.