Tandem Diabetes Care (NASDAQ:TNDM) Shares Gap Down to $45.71

Tandem Diabetes Care, Inc. (NASDAQ:TNDM)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $45.71, but opened at $43.99. Tandem Diabetes Care shares last traded at $43.81, with a volume of 145,852 shares changing hands.

Wall Street Analysts Forecast Growth

TNDM has been the topic of a number of recent analyst reports. Lake Street Capital upped their target price on shares of Tandem Diabetes Care from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, May 22nd. SVB Leerink upgraded shares of Tandem Diabetes Care from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $34.00 to $45.00 in a research note on Thursday, April 25th. Leerink Partnrs upgraded shares of Tandem Diabetes Care from a “market perform” rating to an “outperform” rating in a research note on Thursday, April 25th. Barclays raised their price target on shares of Tandem Diabetes Care from $55.00 to $58.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Finally, Robert W. Baird raised their price target on shares of Tandem Diabetes Care from $36.00 to $39.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $55.08.

Tandem Diabetes Care Trading Down 6.4 %

The company has a current ratio of 3.05, a quick ratio of 2.38 and a debt-to-equity ratio of 1.31. The company has a market cap of $2.76 billion, a PE ratio of -19.84 and a beta of 1.28. The business’s 50-day simple moving average is $41.96 and its 200-day simple moving average is $37.74.

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

Insider Activity

In related news, Director Dick Allen sold 5,000 shares of the firm’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $51.68, for a total value of $258,400.00. Following the transaction, the director now directly owns 24,396 shares in the company, valued at approximately $1,260,785.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. ORG Partners LLC acquired a new position in Tandem Diabetes Care in the 2nd quarter valued at $31,000. Headlands Technologies LLC bought a new position in shares of Tandem Diabetes Care during the 1st quarter worth about $35,000. MCF Advisors LLC increased its holdings in shares of Tandem Diabetes Care by 79.3% during the 1st 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 increased its holdings in shares of Tandem Diabetes Care by 871.8% during the 4th 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, Arcadia Investment Management Corp MI increased its holdings in shares of Tandem Diabetes Care by 141.6% during the 1st quarter. Arcadia Investment Management Corp MI now owns 1,851 shares of the medical device company’s stock worth $66,000 after purchasing an additional 1,085 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.