Tandem Diabetes Care (NASDAQ:TNDM) Shares Gap Up – What’s Next?

Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) gapped up before the market opened on Friday . The stock had previously closed at $13.33, but opened at $16.00. Tandem Diabetes Care shares last traded at $16.3460, with a volume of 541,814 shares.

Wall Street Analysts Forecast Growth

TNDM has been the subject of several analyst reports. Wells Fargo & Company dropped their target price on Tandem Diabetes Care from $20.00 to $13.00 and set an “equal weight” rating for the company in a research note on Thursday, August 7th. Wall Street Zen downgraded shares of Tandem Diabetes Care from a “hold” rating to a “sell” rating in a research report on Sunday, October 26th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Tandem Diabetes Care in a research report on Wednesday, October 8th. Royal Bank Of Canada decreased their price objective on shares of Tandem Diabetes Care from $45.00 to $25.00 and set an “outperform” rating for the company in a research note on Thursday, August 7th. Finally, Stifel Nicolaus initiated coverage on shares of Tandem Diabetes Care in a research note on Tuesday, October 21st. They issued a “hold” rating and a $15.00 target price on the stock. Four analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Tandem Diabetes Care has an average rating of “Hold” and a consensus target price of $21.19.

Tandem Diabetes Care Stock Performance

The company has a 50 day moving average of $13.61 and a 200 day moving average of $16.20. The company has a quick ratio of 1.88, a current ratio of 2.44 and a debt-to-equity ratio of 2.32. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of -5.18 and a beta of 1.51.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings results on Thursday, November 6th. The medical device company reported ($0.31) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.31). The business had revenue of $249.25 million during the quarter, compared to analyst estimates of $235.80 million. Tandem Diabetes Care had a negative net margin of 20.51% and a negative return on equity of 65.40%. The business’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.35) earnings per share. Tandem Diabetes Care has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current fiscal year.

Insider Buying and Selling

In other Tandem Diabetes Care news, CEO John F. Sheridan bought 10,000 shares of the stock in a transaction on Monday, August 11th. The shares were bought at an average price of $10.23 per share, with a total value of $102,300.00. Following the purchase, the chief executive officer directly owned 106,327 shares in the company, valued at $1,087,725.21. The trade was a 10.38% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Tandem Diabetes Care

Several institutional investors and hedge funds have recently bought and sold shares of TNDM. Sessa Capital IM L.P. acquired a new stake in shares of Tandem Diabetes Care in the first quarter valued at approximately $85,574,000. Ophir Asset Management Pty Ltd bought a new position in Tandem Diabetes Care during the 2nd quarter worth $27,307,000. GW&K Investment Management LLC raised its stake in Tandem Diabetes Care by 34.9% in the first quarter. GW&K Investment Management LLC now owns 2,863,987 shares of the medical device company’s stock valued at $54,874,000 after purchasing an additional 740,499 shares in the last quarter. Paradice Investment Management LLC lifted its holdings in Tandem Diabetes Care by 24.3% during the 3rd quarter. Paradice Investment Management LLC now owns 2,196,468 shares of the medical device company’s stock worth $26,665,000 after buying an additional 429,289 shares during the period. Finally, Nuveen LLC bought a new stake in shares of Tandem Diabetes Care in the 1st quarter valued at about $5,907,000.

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.