Tandem Diabetes Care (NASDAQ:TNDM) Shares Gap Up – Still a Buy?

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) shares gapped up prior to trading on Friday. The stock had previously closed at $17.51, but opened at $19.00. Tandem Diabetes Care shares last traded at $19.20, with a volume of 552,679 shares.

Recent Tandem Diabetes Care Headlines

Investors following TNDM have been watching these headlines:

• Positive Sentiment: The FDA cleared Tandem Mobi as the first automated insulin delivery system offering both tubed and tubeless wear options, with up to seven days of wear. Tandem expects to launch the tubeless option in 2027, giving the company a new potential growth opportunity. Article: Tandem Mobi Becomes Only Insulin Pump Offering Both Tubed and Tubeless Wear Options
• Positive Sentiment: Health Canada approved expanded use of Tandem’s t:slim X2 insulin pump with Control-IQ+ technology, extending the product’s availability in Canada. Article: Tandem Diabetes Care Receives Health Canada Approvals
• Neutral Sentiment: The tubeless Mobi launch is planned for 2027, so commercial and financial benefits are prospective rather than immediate. Article: Tandem Mobi FDA Clearance

Analyst Ratings Changes

Several brokerages have recently issued reports on TNDM. Mizuho set a $20.00 price objective on shares of Tandem Diabetes Care in a research note on Friday, November 6th. Wells Fargo & Company decreased their price target on Tandem Diabetes Care from $27.00 to $25.00 and set an “overweight” rating for the company in a research report on Friday, November 6th. Barclays boosted their price objective on Tandem Diabetes Care from $18.00 to $20.00 and gave the stock an “equal weight” rating in a report on Friday, November 6th. Truist Financial reduced their price target on shares of Tandem Diabetes Care from $31.00 to $28.00 and set a “buy” rating for the company in a research report on Thursday, September 24th. Finally, Citigroup lowered their price objective on shares of Tandem Diabetes Care from $24.00 to $20.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Tandem Diabetes Care presently has a consensus rating of “Hold” and an average price target of $27.18.

Tandem Diabetes Care Trading Up 14.6%

The firm has a market capitalization of $1.40 billion, a P/E ratio of -27.87 and a beta of 1.59. The company has a current ratio of 3.20, a quick ratio of 2.65 and a debt-to-equity ratio of 4.47. The company’s fifty day moving average is $17.40 and its 200-day moving average is $18.84.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its earnings results on Thursday, November 5th. The medical device company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.15. The business had revenue of $283.69 million for the quarter, compared to analyst estimates of $265.85 million. Tandem Diabetes Care had a negative net margin of 4.58% and a negative return on equity of 35.61%. Tandem Diabetes Care’s revenue was up 13.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.31) earnings per share. As a group, sell-side analysts anticipate that Tandem Diabetes Care, Inc. will post -0.61 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tandem Diabetes Care news, Director Christopher J. Twomey sold 1,700 shares of the stock in a transaction on Tuesday, October 27th. The stock was sold at an average price of $19.15, for a total transaction of $32,555.00. Following the completion of the transaction, the director directly owned 24,434 shares in the company, valued at $467,911.10. This represents a 6.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tandem Diabetes Care

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Squarepoint Ops LLC acquired a new position in shares of Tandem Diabetes Care in the 2nd quarter valued at $3,280,000. Inspire Investing LLC increased its stake in shares of Tandem Diabetes Care by 315.2% in the 3rd quarter. Inspire Investing LLC now owns 183,095 shares of the medical device company’s stock valued at $2,986,000 after acquiring an additional 138,998 shares during the last quarter. First Light Asset Management LLC increased its stake in Tandem Diabetes Care by 157.4% in the second quarter. First Light Asset Management LLC now owns 3,383,553 shares of the medical device company’s stock valued at $51,058,000 after purchasing an additional 2,068,838 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Tandem Diabetes Care by 42.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 193,556 shares of the medical device company’s stock worth $3,710,000 after purchasing an additional 57,803 shares during the period. Finally, Renaissance Technologies LLC bought a new position in shares of Tandem Diabetes Care during the first quarter worth $1,116,000.

About Tandem Diabetes Care

Tandem Diabetes Care develops and commercializes technology for people who use insulin to manage diabetes. Its products include insulin pumps, infusion sets and related supplies, along with software for viewing and sharing diabetes-management data. The company’s offerings include the t:slim X2 insulin pump and the Tandem Mobi pump, as well as Control-IQ technology, which can automatically adjust insulin delivery based on continuous glucose monitor readings when used with compatible devices. Tandem also provides mobile apps and cloud-based tools to support users and healthcare providers.