Tandem Diabetes Care (NASDAQ:TNDM) Shares Up 4.1%

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) shares rose 4.1% on Friday . The company traded as high as $42.14 and last traded at $42.07. Approximately 110,012 shares were traded during mid-day trading, a decline of 93% from the average daily volume of 1,660,927 shares. The stock had previously closed at $40.43.

Analyst Ratings Changes

TNDM has been the subject of a number of recent analyst reports. Leerink Partnrs raised shares of Tandem Diabetes Care from a “market perform” rating to an “outperform” rating in a report on Thursday, April 25th. StockNews.com raised shares of Tandem Diabetes Care from a “sell” rating to a “hold” rating in a research note on Friday, April 19th. SVB Leerink raised shares of Tandem Diabetes Care from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $34.00 to $45.00 in a research note on Thursday, April 25th. Citigroup upgraded shares of Tandem Diabetes Care from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $40.00 to $57.00 in a research report on Wednesday, May 22nd. Finally, Oppenheimer boosted their price target on shares of Tandem Diabetes Care from $47.00 to $58.00 and gave the stock an “outperform” rating in a research report on Monday, June 10th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Tandem Diabetes Care currently has an average rating of “Moderate Buy” and an average price target of $51.25.

Tandem Diabetes Care Stock Performance

The firm’s fifty day moving average price is $44.52 and its 200 day moving average price is $33.91. The company has a current ratio of 3.81, a quick ratio of 3.01 and a debt-to-equity ratio of 1.43. The stock has a market capitalization of $2.60 billion, a price-to-earnings ratio of -18.57 and a beta of 1.27.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings data on Thursday, May 2nd. The medical device company reported ($0.63) EPS for the quarter, topping the consensus estimate of ($0.80) by $0.17. Tandem Diabetes Care had a negative net margin of 18.37% and a negative return on equity of 34.38%. The firm had revenue of $191.67 million for the quarter, compared to analyst estimates of $173.06 million. Analysts forecast that Tandem Diabetes Care, Inc. will post -1.71 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Dick Allen sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $51.68, for a total transaction of $258,400.00. Following the sale, the director now directly owns 24,396 shares of the company’s stock, valued at approximately $1,260,785.28. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Tandem Diabetes Care

A number of large investors have recently modified their holdings of TNDM. Charles Schwab Investment Management Inc. boosted its holdings in shares of Tandem Diabetes Care by 4.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 367,011 shares of the medical device company’s stock valued at $7,623,000 after buying an additional 16,586 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Tandem Diabetes Care by 51.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 3,226 shares of the medical device company’s stock worth $67,000 after acquiring an additional 1,099 shares during the period. Trexquant Investment LP acquired a new stake in shares of Tandem Diabetes Care in the 3rd quarter worth $1,294,000. Teza Capital Management LLC acquired a new stake in shares of Tandem Diabetes Care in the 3rd quarter worth $362,000. Finally, Alberta Investment Management Corp lifted its stake in shares of Tandem Diabetes Care by 27.7% in the 3rd quarter. Alberta Investment Management Corp now owns 241,578 shares of the medical device company’s stock worth $5,018,000 after acquiring an additional 52,329 shares during the period.

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.