Tandem Diabetes Care (NASDAQ:TNDM) Stock Jumps 7.6% – Still a Buy?

Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) shot up 7.6% during mid-day trading on Monday. The company traded as high as $18.86 and last traded at $18.7460. 2,231,938 shares were traded during trading, an increase of 6% from the average daily volume of 2,103,729 shares. The stock had previously closed at $17.43.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. William Blair assumed coverage on Tandem Diabetes Care in a report on Friday, August 21st. They set an “outperform” rating on the stock. Mizuho set a $18.00 price target on Tandem Diabetes Care in a research note on Tuesday, October 13th. Royal Bank Of Canada restated an “outperform” rating and set a $26.00 price objective (down from $30.00) on shares of Tandem Diabetes Care in a research note on Friday, August 7th. Barclays upgraded Tandem Diabetes Care to a “hold” rating in a research note on Wednesday, October 7th. Finally, Canaccord Genuity Group set a $40.00 price target on shares of Tandem Diabetes Care in a research report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $27.08.

Tandem Diabetes Care Stock Performance

The stock has a market cap of $1.32 billion, a price-to-earnings ratio of -20.28 and a beta of 1.66. The company’s fifty day simple moving average is $18.33 and its two-hundred day simple moving average is $17.83. The company has a debt-to-equity ratio of 4.62, a current ratio of 3.18 and a quick ratio of 2.65.

Tandem Diabetes Care (NASDAQ:TNDM) last released its quarterly earnings results on Thursday, August 6th. The medical device company reported ($0.31) EPS for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.01. Tandem Diabetes Care had a negative return on equity of 45.97% and a negative net margin of 6.08%. The business had revenue of $254.56 million during the quarter, compared to analyst estimates of $254.99 million. During the same period in the prior year, the firm posted ($0.78) EPS. Tandem Diabetes Care’s quarterly revenue was up 5.8% compared to the same quarter last year. On average, analysts forecast that Tandem Diabetes Care, Inc. will post -0.66 earnings per share for the current year.

Institutional Trading of Tandem Diabetes Care

A number of hedge funds have recently made changes to their positions in TNDM. First Light Asset Management LLC raised its stake in shares of Tandem Diabetes Care by 157.4% during the 2nd quarter. First Light Asset Management LLC now owns 3,383,553 shares of the medical device company’s stock worth $51,058,000 after purchasing an additional 2,068,838 shares in the last quarter. Defilade Capital Management L.P. bought a new stake in shares of Tandem Diabetes Care during the first quarter valued at approximately $14,606,000. Quantinno Capital Management LP boosted its stake in Tandem Diabetes Care by 123.5% in the 1st quarter. Quantinno Capital Management LP now owns 653,870 shares of the medical device company’s stock valued at $12,535,000 after buying an additional 361,361 shares in the last quarter. First Trust Advisors LP bought a new position in shares of Tandem Diabetes Care in the first quarter valued at approximately $6,570,000. Finally, Beaconlight Capital LLC acquired a new position in shares of Tandem Diabetes Care during the first quarter worth approximately $4,867,000.

Tandem Diabetes Care Company Profile

Tandem Diabetes Care, Inc is a medical device company focused on developing and commercializing advanced insulin delivery systems for people with diabetes. The company’s products are designed to help automate and simplify insulin therapy while supporting integration with continuous glucose monitoring (CGM) technology.

Tandem’s product portfolio includes the t:slim X2 Insulin Pump and the compact Tandem Mobi system, along with insulin cartridges, infusion sets, accessories and diabetes management software.