Tandem Diabetes Care (NASDAQ:TNDM) Shares Down 5.5% – Should You Sell?

Tandem Diabetes Care, Inc. (NASDAQ:TNDM)’s stock price dropped 5.5% during mid-day trading on Friday . The company traded as low as $13.72 and last traded at $13.7930. Approximately 291,558 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 1,738,036 shares. The stock had previously closed at $14.59.

Analyst Upgrades and Downgrades

TNDM has been the subject of a number of recent research reports. Citigroup reiterated a “neutral” rating and issued a $15.00 price objective (up from $11.00) on shares of Tandem Diabetes Care in a report on Tuesday, October 7th. Lake Street Capital cut shares of Tandem Diabetes Care from a “buy” rating to a “hold” rating and decreased their price target for the company from $75.00 to $12.00 in a report on Monday, August 11th. Barclays decreased their price target on shares of Tandem Diabetes Care from $53.00 to $51.00 and set an “overweight” rating for the company in a report on Friday, August 8th. UBS Group decreased their price target on shares of Tandem Diabetes Care from $20.00 to $17.00 and set a “neutral” rating for the company in a report on Thursday, August 7th. Finally, Wall Street Zen cut shares of Tandem Diabetes Care from a “hold” rating to a “sell” rating in a report on Sunday, October 26th. Four equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $21.19.

Tandem Diabetes Care Price Performance

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 $945.97 million, a price-to-earnings ratio of -4.53 and a beta of 1.48. The stock’s 50-day moving average price is $13.42 and its 200 day moving average price is $16.27.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings results on Wednesday, August 6th. The medical device company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.08). The business had revenue of $240.68 million for the quarter, compared to the consensus estimate of $238.39 million. Tandem Diabetes Care had a negative return on equity of 65.40% and a negative net margin of 20.51%.The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.47) EPS. Equities research analysts predict that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current year.

Insider Transactions at Tandem Diabetes Care

In other Tandem Diabetes Care news, CFO Leigh Vosseller purchased 13,720 shares of the business’s stock in a transaction on Friday, August 8th. The stock was purchased at an average price of $10.89 per share, for a total transaction of $149,410.80. Following the completion of the purchase, the chief financial officer directly owned 25,580 shares in the company, valued at approximately $278,566.20. This trade represents a 115.68% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO John F. Sheridan acquired 10,000 shares of the company’s stock in a transaction dated Monday, August 11th. The shares were purchased at an average cost of $10.23 per share, with a total value of $102,300.00. Following the acquisition, the chief executive officer owned 106,327 shares of the company’s stock, valued at approximately $1,087,725.21. This represents a 10.38% increase in their position. The disclosure for this purchase is available in the SEC filing. 1.90% of the stock is owned by company insiders.

Institutional Trading of Tandem Diabetes Care

Hedge funds have recently modified their holdings of the company. Assetmark Inc. increased its holdings in shares of Tandem Diabetes Care by 42.9% during the first quarter. Assetmark Inc. now owns 1,750 shares of the medical device company’s stock worth $34,000 after buying an additional 525 shares in the last quarter. CWM LLC increased its holdings in shares of Tandem Diabetes Care by 262.6% during the second quarter. CWM LLC now owns 2,796 shares of the medical device company’s stock worth $52,000 after buying an additional 2,025 shares in the last quarter. CoreCap Advisors LLC increased its holdings in shares of Tandem Diabetes Care by 270.3% during the third quarter. CoreCap Advisors LLC now owns 4,751 shares of the medical device company’s stock worth $58,000 after buying an additional 3,468 shares in the last quarter. Brooklyn Investment Group increased its holdings in shares of Tandem Diabetes Care by 417.8% during the first quarter. Brooklyn Investment Group now owns 3,397 shares of the medical device company’s stock worth $65,000 after buying an additional 2,741 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in shares of Tandem Diabetes Care by 186.9% during the second quarter. Nisa Investment Advisors LLC now owns 4,171 shares of the medical device company’s stock worth $78,000 after buying an additional 2,717 shares in the last quarter.

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.