Tandem Diabetes Care (NASDAQ:TNDM) Stock Price Down 8.1% – Time to Sell?

Tandem Diabetes Care, Inc. (NASDAQ:TNDM)’s share price was down 8.1% on Thursday . The stock traded as low as $34.13 and last traded at $34.47. Approximately 393,548 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 1,597,899 shares. The stock had previously closed at $37.50.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Wells Fargo & Company raised their price objective on shares of Tandem Diabetes Care from $50.00 to $55.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Robert W. Baird boosted their price target on Tandem Diabetes Care from $36.00 to $39.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Royal Bank of Canada began coverage on Tandem Diabetes Care in a research report on Wednesday, October 2nd. They set an “outperform” rating and a $65.00 price objective on the stock. The Goldman Sachs Group started coverage on shares of Tandem Diabetes Care in a research report on Friday, October 4th. They issued a “neutral” rating and a $46.00 target price for the company. Finally, Morgan Stanley restated an “equal weight” rating and set a $45.00 price objective on shares of Tandem Diabetes Care in a research note on Monday, September 23rd. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Tandem Diabetes Care presently has an average rating of “Moderate Buy” and a consensus price target of $55.13.

Tandem Diabetes Care Stock Performance

The company has a fifty day moving average price of $42.06 and a two-hundred day moving average price of $41.89. The company has a debt-to-equity ratio of 1.31, a current ratio of 3.05 and a quick ratio of 2.38. The company has a market capitalization of $2.28 billion, a P/E ratio of -16.89 and a beta of 1.33.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its earnings results on Thursday, August 1st. The medical device company reported ($0.47) 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 firm had revenue of $221.90 million for the quarter, compared to the consensus estimate of $205.63 million. During the same period in the previous year, the business earned ($0.30) EPS. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. Equities analysts forecast that Tandem Diabetes Care, Inc. will post -1.76 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tandem Diabetes Care

Hedge funds have recently bought and sold shares of the company. MN Wealth Advisors LLC boosted its stake in Tandem Diabetes Care by 14.4% during the third quarter. MN Wealth Advisors LLC now owns 16,848 shares of the medical device company’s stock worth $715,000 after acquiring an additional 2,125 shares in the last quarter. ORG Wealth Partners LLC bought a new position in shares of Tandem Diabetes Care during the 3rd quarter worth about $30,000. GAMMA Investing LLC grew its stake in shares of Tandem Diabetes Care by 17.0% in the 3rd quarter. GAMMA Investing LLC now owns 5,005 shares of the medical device company’s stock valued at $212,000 after buying an additional 729 shares during the period. Handelsbanken Fonder AB increased its position in Tandem Diabetes Care by 25.0% in the 3rd quarter. Handelsbanken Fonder AB now owns 22,000 shares of the medical device company’s stock valued at $933,000 after buying an additional 4,400 shares in the last quarter. Finally, Creative Planning raised its stake in Tandem Diabetes Care by 40.8% during the 2nd quarter. Creative Planning now owns 11,935 shares of the medical device company’s stock worth $481,000 after buying an additional 3,461 shares during the period.

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.