Tandem Diabetes Care (NASDAQ:TNDM) Shares Gap Up on Analyst Upgrade

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) gapped up prior to trading on Tuesday after Mizuho raised their price target on the stock from $18.00 to $21.00. The stock had previously closed at $22.11, but opened at $24.46. Mizuho currently has a neutral rating on the stock. Tandem Diabetes Care shares last traded at $22.9050, with a volume of 843,664 shares traded.

TNDM has been the topic of several other reports. Citigroup lifted their target price on shares of Tandem Diabetes Care from $16.00 to $22.00 and gave the company a “neutral” rating in a research report on Thursday, December 11th. Truist Financial restated a “hold” rating and set a $17.00 price target (up previously from $16.00) on shares of Tandem Diabetes Care in a research note on Monday, November 10th. Stifel Nicolaus started coverage on Tandem Diabetes Care in a report on Tuesday, October 21st. They set a “hold” rating and a $15.00 price objective on the stock. Oppenheimer initiated coverage on Tandem Diabetes Care in a report on Monday, September 8th. They issued an “outperform” rating and a $22.00 target price for the company. Finally, Baird R W raised Tandem Diabetes Care from a “hold” rating to a “strong-buy” rating in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $23.50.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd grew its position in Tandem Diabetes Care by 200.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 2,205 shares of the medical device company’s stock worth $27,000 after acquiring an additional 1,470 shares during the last quarter. Quarry LP boosted 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 worth $45,000 after purchasing an additional 3,558 shares in the last quarter. CWM LLC grew 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 purchasing an additional 2,025 shares during the last quarter. CoreCap Advisors LLC increased its stake in shares of Tandem Diabetes Care by 270.3% in the third quarter. CoreCap Advisors LLC now owns 4,751 shares of the medical device company’s stock valued at $58,000 after buying an additional 3,468 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd raised its holdings in shares of Tandem Diabetes Care by 485.1% in the third quarter. Aster Capital Management DIFC Ltd now owns 5,149 shares of the medical device company’s stock valued at $63,000 after buying an additional 4,269 shares during the last quarter.

Tandem Diabetes Care Price Performance

The stock has a fifty day moving average of $17.78 and a 200-day moving average of $16.06. The firm has a market capitalization of $1.52 billion, a P/E ratio of -7.35 and a beta of 1.68. The company has a quick ratio of 1.90, a current ratio of 2.44 and a debt-to-equity ratio of 2.33.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings data on Thursday, November 6th. The medical device company reported ($0.31) earnings per share 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 firm had revenue of $249.25 million during the quarter, compared to analysts’ expectations of $235.80 million. During the same quarter last year, the company posted ($0.35) EPS. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. Equities analysts predict that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current fiscal year.

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.