Tandem Diabetes Care (NASDAQ:TNDM) Trading 4% Higher

Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) traded up 4% during trading on Tuesday . The company traded as high as $46.15 and last traded at $46.09. 456,284 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 1,697,968 shares. The stock had previously closed at $44.30.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. UBS Group upgraded Tandem Diabetes Care to a “hold” rating in a research report on Friday, August 2nd. Morgan Stanley assumed coverage on Tandem Diabetes Care in a research note on Thursday, August 22nd. They set an “equal weight” rating and a $45.00 price objective on the stock. Canaccord Genuity Group assumed coverage on Tandem Diabetes Care in a research note on Thursday, August 8th. They issued a “buy” rating and a $57.00 price target on the stock. Canaccord Genuity Group assumed coverage on Tandem Diabetes Care in a research note on Thursday, August 8th. They issued a “buy” rating and a $57.00 price target on the stock. Finally, Oppenheimer increased their price target on Tandem Diabetes Care from $47.00 to $58.00 and gave the company an “outperform” rating in a research note on Monday, June 10th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $54.36.

Tandem Diabetes Care Trading Down 0.4 %

The stock has a market capitalization of $2.89 billion, a price-to-earnings ratio of -20.37 and a beta of 1.28. The company has a debt-to-equity ratio of 1.31, a quick ratio of 2.38 and a current ratio of 3.05. The business has a fifty day simple moving average of $41.81 and a 200 day simple moving average of $38.68.

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

Institutional Trading of Tandem Diabetes Care

Several institutional investors and hedge funds have recently modified their holdings of the business. ORG Partners LLC bought a new position in Tandem Diabetes Care in the second quarter valued at about $31,000. Headlands Technologies LLC acquired a new stake in Tandem Diabetes Care during the first quarter worth approximately $35,000. MCF Advisors LLC grew its stake 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 worth $36,000 after purchasing an additional 445 shares during the period. Signaturefd LLC grew its stake in Tandem Diabetes Care by 871.8% during the fourth quarter. Signaturefd LLC now owns 1,691 shares of the medical device company’s stock worth $50,000 after purchasing an additional 1,517 shares during the period. Finally, GAMMA Investing LLC acquired a new stake in Tandem Diabetes Care during the fourth quarter worth approximately $73,000.

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.