Tandem Diabetes Care (NASDAQ:TNDM) Shares Gap Up to $35.24

Tandem Diabetes Care, Inc. (NASDAQ:TNDM)’s share price gapped up before the market opened on Monday . The stock had previously closed at $35.24, but opened at $37.25. Tandem Diabetes Care shares last traded at $37.68, with a volume of 135,297 shares.

Wall Street Analysts Forecast Growth

Several brokerages have commented on TNDM. Stifel Nicolaus lifted their price objective on shares of Tandem Diabetes Care from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, April 23rd. SVB Leerink raised Tandem Diabetes Care from a “market perform” rating to an “outperform” rating and raised their target price for the company from $34.00 to $45.00 in a report on Thursday. Leerink Partnrs upgraded Tandem Diabetes Care from a “market perform” rating to an “outperform” rating in a report on Thursday. StockNews.com upgraded Tandem Diabetes Care from a “sell” rating to a “hold” rating in a report on Friday, April 19th. Finally, Citigroup upped their target price on Tandem Diabetes Care from $31.00 to $38.00 and gave the company a “neutral” rating in a report on Wednesday, April 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $40.82.

Tandem Diabetes Care Stock Up 6.6 %

The company has a quick ratio of 3.02, a current ratio of 3.83 and a debt-to-equity ratio of 0.91. The stock has a market cap of $2.43 billion, a P/E ratio of -10.95 and a beta of 1.11. The business has a 50-day simple moving average of $30.96 and a 200-day simple moving average of $25.47.

Tandem Diabetes Care (NASDAQ:TNDM) last released its earnings results on Wednesday, February 21st. The medical device company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.04). Tandem Diabetes Care had a negative net margin of 29.77% and a negative return on equity of 31.48%. The company had revenue of $196.80 million during the quarter, compared to analyst estimates of $204.86 million. Analysts expect that Tandem Diabetes Care, Inc. will post -1.62 EPS for the current year.

Institutional Trading of Tandem Diabetes Care

Several institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC lifted its position in Tandem Diabetes Care by 70.9% during the third quarter. SG Americas Securities LLC now owns 23,510 shares of the medical device company’s stock valued at $488,000 after purchasing an additional 9,751 shares during the last quarter. Peregrine Capital Management LLC raised its holdings in Tandem Diabetes Care by 27.8% during the third quarter. Peregrine Capital Management LLC now owns 243,355 shares of the medical device company’s stock worth $5,054,000 after purchasing an additional 52,897 shares in the last quarter. Commonwealth Equity Services LLC grew its position in Tandem Diabetes Care by 10.1% in the 3rd quarter. Commonwealth Equity Services LLC now owns 9,870 shares of the medical device company’s stock valued at $205,000 after buying an additional 908 shares during the last quarter. Raymond James & Associates raised its stake in shares of Tandem Diabetes Care by 1.9% during the 3rd quarter. Raymond James & Associates now owns 40,264 shares of the medical device company’s stock worth $836,000 after buying an additional 737 shares during the last quarter. Finally, Chicago Capital LLC grew its holdings in Tandem Diabetes Care by 699.8% in the 3rd quarter. Chicago Capital LLC now owns 904,410 shares of the medical device company’s stock valued at $18,785,000 after buying an additional 791,336 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.