Tandem Diabetes Care (NASDAQ:TNDM) Shares Gap Up – Here’s Why

by · The Cerbat Gem

Tandem Diabetes Care, Inc. (NASDAQ:TNDM – Get Free Report)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $17.20, but opened at $19.47. Tandem Diabetes Care shares last traded at $18.5110, with a volume of 711,319 shares changing hands.

Analyst Ratings Changes

TNDM has been the subject of several recent research reports. Truist Financial reissued a “buy” rating and set a $31.00 target price (down from $35.00) on shares of Tandem Diabetes Care in a research note on Monday, May 11th. Weiss Ratings upgraded shares of Tandem Diabetes Care from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, May 26th. Benchmark initiated coverage on Tandem Diabetes Care in a research report on Monday, May 11th. They set a “hold” rating for the company. Stifel Nicolaus lifted their target price on Tandem Diabetes Care from $20.00 to $22.00 and gave the stock a “hold” rating in a report on Friday, February 20th. Finally, Piper Sandler raised Tandem Diabetes Care from a “neutral” rating to an “overweight” rating and upped their target price for the company from $21.00 to $33.00 in a report on Tuesday, March 17th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Tandem Diabetes Care presently has an average rating of “Moderate Buy” and a consensus target price of $29.84.

Read Our Latest Stock Analysis on TNDM

Tandem Diabetes Care Price Performance

The company has a market cap of $1.27 billion, a PE ratio of -13.28 and a beta of 1.58. The stock has a fifty day moving average price of $18.66 and a 200-day moving average price of $20.32. The company has a debt-to-equity ratio of 4.54, a current ratio of 3.58 and a quick ratio of 3.07.

Tandem Diabetes Care (NASDAQ:TNDM – Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The medical device company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.46) by $0.16. The firm had revenue of $247.22 million for the quarter, compared to analyst estimates of $240.41 million. Tandem Diabetes Care had a negative return on equity of 53.88% and a negative net margin of 9.20%.Tandem Diabetes Care’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.66) earnings per share. On average, equities analysts expect that Tandem Diabetes Care, Inc. will post -0.69 earnings per share for the current year.

Institutional Investors Weigh In On Tandem Diabetes Care

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TNDM. Smartleaf Asset Management LLC grew its holdings in shares of Tandem Diabetes Care by 80.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,330 shares of the medical device company’s stock valued at $30,000 after acquiring an additional 593 shares in the last quarter. OP Asset Management Ltd acquired a new position in Tandem Diabetes Care in the 1st quarter worth about $35,000. Caitong International Asset Management Co. Ltd increased its position in Tandem Diabetes Care by 200.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 2,205 shares of the medical device company’s stock worth $27,000 after purchasing an additional 1,470 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of Tandem Diabetes Care by 67.4% during the 4th quarter. Van ECK Associates Corp now owns 3,430 shares of the medical device company’s stock worth $75,000 after purchasing an additional 1,381 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV raised its stake in shares of Tandem Diabetes Care by 36.0% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 3,431 shares of the medical device company’s stock worth $75,000 after purchasing an additional 909 shares in the last quarter.

About Tandem Diabetes Care

(Get Free Report)

Tandem Diabetes Care, Inc (NASDAQ: TNDM), headquartered in San Diego, California, is a medical device company focused on the design, development and commercialization of innovative insulin delivery systems for people with insulin-dependent diabetes. Founded in 2006, the company introduced its first product, the t:slim® Insulin Pump, in 2011 and has since built a portfolio of next-generation pumps featuring touchscreen interfaces, remote software updates and integrated continuous glucose monitoring (CGM) capabilities.

The company’s flagship offering, the t:slim X2® Insulin Pump, is engineered to work with leading CGM sensors and features automated insulin delivery algorithms that adjust basal insulin rates based on real-time glucose trends.

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