Tandem Diabetes Care (NASDAQ:TNDM) Stock Price Passes Above 200-Day Moving Average – What’s Next?

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) crossed 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

A number of equities analysts have commented on the stock. Wells Fargo & Company upped their price objective on shares of Tandem Diabetes Care from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Friday, November 7th. Canaccord Genuity Group set a $35.00 price target on shares of Tandem Diabetes Care and gave the stock a “buy” rating in a report on Wednesday, December 17th. Citigroup raised their price objective 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. Wall Street Zen raised Tandem Diabetes Care from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Stifel Nicolaus began coverage on Tandem Diabetes Care in a research note on Tuesday, October 21st. They issued a “hold” rating and a $15.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $24.00.

Tandem Diabetes Care Stock Performance

The firm has a fifty day moving average of $21.13 and a 200-day moving average of $16.39. The company has a quick ratio of 1.90, a current ratio of 2.44 and a debt-to-equity ratio of 2.33. The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of -6.82 and a beta of 1.68.

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

Institutional Investors Weigh In On Tandem Diabetes Care

A number of large investors have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd boosted 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 last quarter. Quarry LP lifted its stake 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 grew its holdings in shares of Tandem Diabetes Care by 262.6% during the 2nd 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 period. CoreCap Advisors LLC increased its position in 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 in the last quarter. Finally, Aster Capital Management DIFC Ltd raised its holdings in 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 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.