Tandem Diabetes Care (NASDAQ:TNDM) Shares Gap Up – Time to Buy?

Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) gapped up prior to trading 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.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Rothschild & Co Redburn set a $45.00 price target on shares of Tandem Diabetes Care in a report on Friday, April 24th. Truist Financial reiterated a “buy” rating and issued a $31.00 price objective (down from $35.00) on shares of Tandem Diabetes Care in a report on Monday, May 11th. Benchmark assumed coverage on shares of Tandem Diabetes Care in a research report on Monday, May 11th. They set a “hold” rating on the stock. Citigroup reaffirmed a “neutral” rating and issued a $17.00 price target (down from $22.00) on shares of Tandem Diabetes Care in a research report on Thursday. Finally, The Goldman Sachs Group set a $21.00 price target on Tandem Diabetes Care in a research note on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $29.84.

Tandem Diabetes Care Trading Up 7.8%

The company’s fifty day moving average is $18.66 and its 200-day moving average is $20.32. The company has a current ratio of 3.58, a quick ratio of 3.07 and a debt-to-equity ratio of 4.54. The firm has a market capitalization of $1.27 billion, a P/E ratio of -13.28 and a beta of 1.58.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its earnings results on Thursday, May 7th. The medical device company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.46) by $0.16. Tandem Diabetes Care had a negative net margin of 9.20% and a negative return on equity of 53.88%. The firm had revenue of $247.22 million for the quarter, compared to the consensus estimate of $240.41 million. During the same quarter last year, the firm posted ($0.66) EPS. The business’s quarterly revenue was up 5.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Tandem Diabetes Care, Inc. will post -0.69 earnings per share for the current fiscal year.

Institutional Trading of Tandem Diabetes Care

Hedge funds have recently added to or reduced their stakes in the business. Counterpoint Mutual Funds LLC bought a new stake in shares of Tandem Diabetes Care during the third quarter valued at approximately $513,000. Vanguard Group Inc. raised its stake in shares of Tandem Diabetes Care by 3.9% in the fourth quarter. Vanguard Group Inc. now owns 7,341,356 shares of the medical device company’s stock valued at $161,363,000 after purchasing an additional 278,042 shares in the last quarter. Royce & Associates LP bought a new position in Tandem Diabetes Care in the third quarter worth $6,191,000. Aberdeen Group plc lifted its position in Tandem Diabetes Care by 67.9% in the third quarter. Aberdeen Group plc now owns 598,096 shares of the medical device company’s stock worth $7,261,000 after purchasing an additional 241,878 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new stake in Tandem Diabetes Care during the fourth quarter worth $26,988,000.

Tandem Diabetes Care Company Profile

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.