Tandem Diabetes Care (NASDAQ:TNDM) Sees Unusually-High Trading Volume – Here’s Why

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) shares saw strong trading volume on Wednesday . 2,714,874 shares traded hands during mid-day trading, an increase of 46% from the previous session’s volume of 1,858,525 shares.The stock last traded at $26.22 and had previously closed at $26.90.

Wall Street Analysts Forecast Growth

TNDM has been the subject of several research reports. UBS Group reissued a “neutral” rating and issued a $22.00 target price (up from $17.00) on shares of Tandem Diabetes Care in a report on Friday, February 20th. Truist Financial reiterated a “hold” rating and issued a $27.00 price objective (up from $24.00) on shares of Tandem Diabetes Care in a research note on Monday. Mizuho set a $22.00 price objective on Tandem Diabetes Care and gave the company a “neutral” rating in a report on Friday, February 20th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $30.00 target price on shares of Tandem Diabetes Care in a report on Wednesday, December 17th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $28.00 price target on shares of Tandem Diabetes Care in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $28.00.

Tandem Diabetes Care Trading Down 1.9%

The business’s 50-day moving average is $21.27 and its two-hundred day moving average is $17.39. The company has a debt-to-equity ratio of 2.00, a quick ratio of 2.02 and a current ratio of 2.55. The stock has a market capitalization of $1.73 billion, a PE ratio of -8.24 and a beta of 1.68.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings data on Thursday, February 19th. The medical device company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.04. The company had revenue of $290.38 million during the quarter, compared to the consensus estimate of $277.14 million. Tandem Diabetes Care had a negative net margin of 20.17% and a negative return on equity of 68.23%. Tandem Diabetes Care’s quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.01 EPS. As a group, equities research analysts anticipate that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of TNDM. Caitong International Asset Management Co. Ltd lifted its holdings in Tandem Diabetes Care by 200.0% in the third quarter. Caitong International Asset Management Co. Ltd now owns 2,205 shares of the medical device company’s stock valued at $27,000 after acquiring an additional 1,470 shares during the period. Smartleaf Asset Management LLC increased its holdings in shares of Tandem Diabetes Care by 80.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,330 shares of the medical device company’s stock valued at $30,000 after purchasing an additional 593 shares in the last quarter. Quarry LP increased its holdings in shares of Tandem Diabetes Care by 2,597.1% in the 3rd quarter. Quarry LP now owns 3,695 shares of the medical device company’s stock valued at $45,000 after purchasing an additional 3,558 shares in the last quarter. CWM LLC lifted its stake in shares of Tandem Diabetes Care by 262.6% in the second quarter. CWM LLC now owns 2,796 shares of the medical device company’s stock valued at $52,000 after purchasing an additional 2,025 shares during the period. Finally, CoreCap Advisors LLC boosted its holdings in 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.

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.