Tandem Diabetes Care (NASDAQ:TNDM) Stock Price Down 4.2% – Here’s What Happened
by Kim Johansen · The Markets DailyTandem Diabetes Care, Inc. (NASDAQ:TNDM – Get Free Report)’s share price traded down 4.2% on Friday . The stock traded as low as $17.62 and last traded at $17.5360. 189,614 shares changed hands during trading, a decline of 91% from the average session volume of 2,071,849 shares. The stock had previously closed at $18.31.
Analyst Ratings Changes
Several research firms have commented on TNDM. Canaccord Genuity Group set a $40.00 price objective on Tandem Diabetes Care in a report on Friday, August 7th. Oppenheimer reissued an “outperform” rating on shares of Tandem Diabetes Care in a research report on Friday, August 7th. Royal Bank Of Canada restated an “outperform” rating and issued a $26.00 price objective (down from $30.00) on shares of Tandem Diabetes Care in a report on Friday, August 7th. UBS Group assumed coverage on shares of Tandem Diabetes Care in a research report on Tuesday, July 28th. They set a “neutral” rating and a $18.00 target price on the stock. Finally, William Blair initiated coverage on shares of Tandem Diabetes Care in a research report on Friday, August 21st. They issued an “outperform” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Tandem Diabetes Care currently has an average rating of “Hold” and an average price target of $29.34.
View Our Latest Analysis on TNDM
Tandem Diabetes Care Price Performance
The stock has a 50 day moving average price of $19.43 and a two-hundred day moving average price of $19.20. The firm has a market cap of $1.24 billion, a PE ratio of -19.24 and a beta of 1.55. The company has a quick ratio of 2.65, a current ratio of 3.18 and a debt-to-equity ratio of 4.62.
Tandem Diabetes Care (NASDAQ:TNDM – Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The medical device company reported ($0.31) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.01. Tandem Diabetes Care had a negative net margin of 6.08% and a negative return on equity of 45.97%. The business had revenue of $254.56 million for the quarter, compared to analyst estimates of $254.99 million. During the same quarter in the prior year, the business posted ($0.78) EPS. Tandem Diabetes Care’s revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, equities analysts expect that Tandem Diabetes Care, Inc. will post -0.65 earnings per share for the current year.
Hedge Funds Weigh In On Tandem Diabetes Care
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd lifted its stake in Tandem Diabetes Care by 200.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 2,205 shares of the medical device company’s stock valued at $27,000 after acquiring an additional 1,470 shares during the period. Smartleaf Asset Management LLC raised its holdings in shares of Tandem Diabetes Care by 80.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,330 shares of the medical device company’s stock worth $30,000 after purchasing an additional 593 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new position in Tandem Diabetes Care during the second quarter valued at $33,000. OP Asset Management Ltd purchased a new stake in Tandem Diabetes Care in the first quarter valued at $35,000. Finally, Quarry LP boosted its holdings in Tandem Diabetes Care by 2,597.1% in the third quarter. Quarry LP now owns 3,695 shares of the medical device company’s stock valued at $45,000 after purchasing an additional 3,558 shares during the last quarter.
About Tandem Diabetes Care
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.