Tandem Diabetes Care (NASDAQ:TNDM) Shares Down 6.1% – What’s Next?

Tandem Diabetes Care, Inc. (NASDAQ:TNDM)’s share price fell 6.1% during mid-day trading on Monday . The stock traded as low as $14.52 and last traded at $14.5280. 285,031 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 1,960,326 shares. The stock had previously closed at $15.48.

Analyst Ratings Changes

A number of research firms recently issued reports on TNDM. Weiss Ratings reissued a “sell (e+)” rating on shares of Tandem Diabetes Care in a research report on Wednesday, January 21st. Zacks Research raised Tandem Diabetes Care from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 27th. Rothschild & Co Redburn set a $45.00 price objective on Tandem Diabetes Care in a research report on Friday, April 24th. Piper Sandler raised Tandem Diabetes Care from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $21.00 to $33.00 in a research report on Tuesday, March 17th. Finally, Morgan Stanley lifted their price objective on Tandem Diabetes Care from $23.00 to $25.00 and gave the company an “equal weight” rating in a research report on Monday, March 2nd. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $29.89.

Tandem Diabetes Care Trading Down 4.6%

The stock has a market cap of $1.01 billion, a price-to-earnings ratio of -10.55 and a beta of 1.64. The company has a quick ratio of 3.07, a current ratio of 3.58 and a debt-to-equity ratio of 4.54. The business has a 50-day moving average of $21.32 and a 200-day moving average of $20.33.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its earnings results on Thursday, May 7th. The medical device company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.46) by $0.16. Tandem Diabetes Care had a negative return on equity of 53.88% and a negative net margin of 9.20%.The company had revenue of $247.22 million for the quarter, compared to analyst estimates of $240.41 million. During the same period last year, the company earned ($0.66) earnings per share. The business’s revenue was up 5.5% compared to the same quarter last year. As a group, research analysts forecast that Tandem Diabetes Care, Inc. will post -0.93 earnings per share for the current year.

Hedge Funds Weigh In On Tandem Diabetes Care

Institutional investors have recently bought and sold shares of the stock. Sector Gamma AS raised its holdings in Tandem Diabetes Care by 28.0% during the third quarter. Sector Gamma AS now owns 269,542 shares of the medical device company’s stock valued at $3,272,000 after buying an additional 59,019 shares in the last quarter. Royce & Associates LP bought a new position in Tandem Diabetes Care during the third quarter valued at about $6,191,000. Counterpoint Mutual Funds LLC bought a new position in Tandem Diabetes Care during the third quarter valued at about $513,000. Assenagon Asset Management S.A. bought a new position in Tandem Diabetes Care during the fourth quarter valued at about $26,988,000. Finally, Aberdeen Group plc raised its holdings in Tandem Diabetes Care by 67.9% during the third quarter. Aberdeen Group plc now owns 598,096 shares of the medical device company’s stock valued at $7,261,000 after buying an additional 241,878 shares in the last quarter.

Tandem Diabetes Care Company Profile

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.