Tandem Diabetes Care (NASDAQ:TNDM) Shares Up 3.8%

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) rose 3.8% during mid-day trading on Monday . The stock traded as high as $46.68 and last traded at $46.34. Approximately 711,810 shares were traded during trading, a decline of 56% from the average daily volume of 1,630,157 shares. The stock had previously closed at $44.63.

Analyst Upgrades and Downgrades

TNDM has been the topic of several recent analyst reports. Wells Fargo & Company lifted their target price on Tandem Diabetes Care from $50.00 to $55.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Canaccord Genuity Group initiated coverage on shares of Tandem Diabetes Care in a report on Thursday, August 8th. They issued a “buy” rating and a $57.00 price objective for the company. Canaccord Genuity Group started coverage on shares of Tandem Diabetes Care in a research report on Thursday, August 8th. They set a “buy” rating and a $57.00 price target on the stock. Redburn Atlantic assumed coverage on Tandem Diabetes Care in a research report on Thursday, May 30th. They set a “buy” rating and a $60.00 price target on the stock. Finally, UBS Group upgraded Tandem Diabetes Care to a “hold” rating in a report on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Tandem Diabetes Care has a consensus rating of “Moderate Buy” and a consensus target price of $54.36.

Tandem Diabetes Care Stock Up 1.8 %

The business’s 50 day simple moving average is $42.26 and its 200 day simple moving average is $40.75. The company has a market capitalization of $2.93 billion, a PE ratio of -21.21 and a beta of 1.32. The company has a quick ratio of 2.38, a current ratio of 3.05 and a debt-to-equity ratio of 1.31.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings results on Thursday, August 1st. The medical device company reported ($0.47) EPS for the quarter, beating the consensus estimate of ($0.54) by $0.07. Tandem Diabetes Care had a negative net margin of 17.15% and a negative return on equity of 41.54%. The business had revenue of $221.90 million during the quarter, compared to the consensus estimate of $205.63 million. During the same quarter in the prior year, the firm earned ($0.30) EPS. The firm’s quarterly revenue was up 13.3% on a year-over-year basis. As a group, analysts forecast that Tandem Diabetes Care, Inc. will post -1.76 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of TNDM. ORG Partners LLC purchased a new stake in Tandem Diabetes Care in the 2nd quarter worth about $31,000. Headlands Technologies LLC acquired a new stake in shares of Tandem Diabetes Care during the first quarter worth approximately $35,000. MCF Advisors LLC grew its position in Tandem Diabetes Care by 79.3% during the first quarter. MCF Advisors LLC now owns 1,006 shares of the medical device company’s stock valued at $36,000 after purchasing an additional 445 shares in the last quarter. Daiwa Securities Group Inc. purchased a new position in Tandem Diabetes Care during the second quarter valued at approximately $86,000. Finally, Signaturefd LLC grew its position in Tandem Diabetes Care by 29.2% during the second quarter. Signaturefd LLC now owns 2,307 shares of the medical device company’s stock valued at $93,000 after purchasing an additional 522 shares in the last quarter.

Tandem Diabetes Care Company Profile

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.