Tandem Diabetes Care (NASDAQ:TNDM) Shares Up 9% – Should You Buy?

Tandem Diabetes Care, Inc. (NASDAQ:TNDM)’s stock price shot up 9% on Friday . The company traded as high as $17.49 and last traded at $18.22. 202,456 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 2,106,114 shares. The stock had previously closed at $16.72.

Analysts Set New Price Targets

A number of brokerages have weighed in on TNDM. Citigroup reissued a “neutral” rating and issued a $17.00 target price (down from $22.00) on shares of Tandem Diabetes Care in a research report on Thursday. 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 research report on Friday, February 20th. The Goldman Sachs Group set a $21.00 target price on Tandem Diabetes Care in a research report on Wednesday. Benchmark began coverage on Tandem Diabetes Care in a research report on Monday, May 11th. They issued a “hold” rating for the company. Finally, Stifel Nicolaus boosted their target price on Tandem Diabetes Care from $20.00 to $22.00 and gave the stock a “hold” rating in a research report on Friday, February 20th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Tandem Diabetes Care presently has a consensus rating of “Moderate Buy” and an average price target of $29.16.

Tandem Diabetes Care Trading Up 3.1%

The stock has a 50 day simple moving average of $18.80 and a 200-day simple moving average of $20.31. The firm has a market capitalization of $1.18 billion, a P/E ratio of -12.37 and a beta of 1.64. The company has a current ratio of 3.58, a quick ratio of 3.07 and a debt-to-equity ratio of 4.54.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings data on Thursday, May 7th. The medical device company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.16. The company had revenue of $247.22 million during the quarter, compared to the consensus estimate of $240.41 million. Tandem Diabetes Care had a negative return on equity of 53.88% and a negative net margin of 9.20%.The firm’s revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the company posted ($0.66) EPS. On average, equities research analysts forecast that Tandem Diabetes Care, Inc. will post -0.79 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. State of Alaska Department of Revenue raised its position in Tandem Diabetes Care by 1.4% in the fourth quarter. State of Alaska Department of Revenue now owns 38,676 shares of the medical device company’s stock valued at $849,000 after purchasing an additional 523 shares during the period. ProShare Advisors LLC raised its holdings in shares of Tandem Diabetes Care by 4.6% in the 4th quarter. ProShare Advisors LLC now owns 13,185 shares of the medical device company’s stock valued at $290,000 after buying an additional 579 shares during the period. Smartleaf Asset Management LLC raised 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 buying an additional 593 shares during the period. Natixis Advisors LLC raised its holdings in shares of Tandem Diabetes Care by 1.1% in the 4th quarter. Natixis Advisors LLC now owns 57,021 shares of the medical device company’s stock valued at $1,253,000 after buying an additional 617 shares during the period. Finally, Amalgamated Bank raised its holdings in shares of Tandem Diabetes Care by 3.5% in the 3rd quarter. Amalgamated Bank now owns 19,617 shares of the medical device company’s stock valued at $238,000 after buying an additional 657 shares during the period.

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.