Tandem Diabetes Care (NASDAQ:TNDM) Shares Cross Above 200 Day Moving Average – What’s Next?

Tandem Diabetes Care, Inc. (NASDAQ:TNDM)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $16.37 and traded as high as $21.98. Tandem Diabetes Care shares last traded at $20.16, with a volume of 1,377,238 shares.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on TNDM shares. Morgan Stanley set a $23.00 price objective on shares of Tandem Diabetes Care and gave the stock an “equal weight” rating in a research note on Tuesday, December 2nd. Wall Street Zen upgraded shares of Tandem Diabetes Care from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Stifel Nicolaus began coverage on Tandem Diabetes Care in a research report on Tuesday, October 21st. They set a “hold” rating and a $15.00 price objective for the company. Mizuho lifted their target price on Tandem Diabetes Care from $18.00 to $21.00 and gave the stock a “neutral” rating in a report on Wednesday, December 17th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $25.00 target price on shares of Tandem Diabetes Care in a research report on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $24.00.

Tandem Diabetes Care Trading Down 4.3%

The stock has a market cap of $1.37 billion, a price-to-earnings ratio of -6.61 and a beta of 1.68. The company has a debt-to-equity ratio of 2.33, a quick ratio of 1.90 and a current ratio of 2.44. The company’s 50 day simple moving average is $21.07 and its two-hundred day simple moving average is $16.37.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings results on Thursday, November 6th. The medical device company reported ($0.31) EPS for the quarter, meeting the consensus estimate of ($0.31). Tandem Diabetes Care had a negative net margin of 20.19% and a negative return on equity of 73.97%. The business had revenue of $249.25 million for the quarter, compared to analysts’ expectations of $235.80 million. During the same period in the previous year, the company posted ($0.35) EPS. Tandem Diabetes Care’s revenue was up 2.2% on a year-over-year basis. Research analysts expect that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current fiscal year.

Institutional Investors Weigh In On Tandem Diabetes Care

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd grew its stake in shares of Tandem Diabetes Care by 200.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 2,205 shares of the medical device company’s stock valued at $27,000 after buying an additional 1,470 shares in the last quarter. Quarry LP lifted its stake in Tandem Diabetes Care by 2,597.1% in the third quarter. Quarry LP now owns 3,695 shares of the medical device company’s stock valued at $45,000 after acquiring an additional 3,558 shares during the last quarter. CWM LLC grew its position in Tandem Diabetes Care by 262.6% in the second quarter. CWM LLC now owns 2,796 shares of the medical device company’s stock worth $52,000 after acquiring an additional 2,025 shares in the last quarter. CoreCap Advisors LLC increased its stake in shares of Tandem Diabetes Care by 270.3% during the 3rd quarter. CoreCap Advisors LLC now owns 4,751 shares of the medical device company’s stock worth $58,000 after purchasing an additional 3,468 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd increased its stake in shares of Tandem Diabetes Care by 485.1% during the 3rd quarter. Aster Capital Management DIFC Ltd now owns 5,149 shares of the medical device company’s stock worth $63,000 after purchasing an additional 4,269 shares during the last quarter.

About Tandem Diabetes Care

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.