Tandem Diabetes Care (NASDAQ:TNDM) Sees Large Volume Increase – Here’s What Happened

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) shares saw unusually-high trading volume on Wednesday . Approximately 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.

Analyst Ratings Changes

Several equities analysts have commented on TNDM shares. Citigroup raised their price target 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. Wells Fargo & Company lifted their target price on Tandem Diabetes Care from $13.00 to $14.00 and gave the company an “equal weight” rating in a report on Friday, November 7th. The Goldman Sachs Group restated a “neutral” rating and set a $28.00 price target on shares of Tandem Diabetes Care in a report on Monday. Weiss Ratings reiterated a “sell (e+)” rating on shares of Tandem Diabetes Care in a research note on Wednesday, January 21st. Finally, UBS Group reissued a “neutral” rating and set a $22.00 price objective (up from $17.00) on shares of Tandem Diabetes Care in a research report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $28.00.

Tandem Diabetes Care Stock Performance

The firm has a 50 day moving average of $21.12 and a two-hundred day moving average of $17.27. The company has a debt-to-equity ratio of 2.00, a current ratio of 2.55 and a quick ratio of 2.02. The stock has a market cap of $1.77 billion, a PE ratio of -8.45 and a beta of 1.68.

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

Institutional Trading of Tandem Diabetes Care

A number of hedge funds and other institutional investors have recently made changes to their positions in TNDM. Caitong International Asset Management Co. Ltd boosted its position in shares of Tandem Diabetes Care by 200.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 2,205 shares of the medical device company’s stock valued at $27,000 after purchasing an additional 1,470 shares during the period. Smartleaf Asset Management LLC grew its position in shares of Tandem Diabetes Care by 80.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,330 shares of the medical device company’s stock worth $30,000 after acquiring an additional 593 shares during 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 acquiring an additional 3,558 shares during the period. CWM LLC raised its position in Tandem Diabetes Care by 262.6% in the 2nd 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 last quarter. Finally, CoreCap Advisors LLC boosted its stake 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 during the period.

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.