Tandem Diabetes Care (NASDAQ:TNDM) Shares Up 6.5% – Still a Buy?

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) shares were up 6.5% during mid-day trading on Monday . The stock traded as high as $16.28 and last traded at $16.4040. 322,708 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 2,145,208 shares. The stock had previously closed at $15.41.

Analysts Set New Price Targets

TNDM has been the subject of several recent analyst reports. Citigroup restated a “neutral” rating and issued a $17.00 target price (down from $22.00) on shares of Tandem Diabetes Care in a research note on Thursday, May 28th. Barclays set a $55.00 price objective on Tandem Diabetes Care and gave the company an “overweight” rating in a report on Monday, May 11th. Zacks Research downgraded Tandem Diabetes Care from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 10th. TD Cowen restated a “buy” rating and issued a $28.00 price target (up from $25.00) on shares of Tandem Diabetes Care in a research note on Monday, April 20th. Finally, Piper Sandler upgraded Tandem Diabetes Care from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $21.00 to $33.00 in a research report on Tuesday, March 17th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Tandem Diabetes Care has an average rating of “Hold” and an average price target of $29.12.

Tandem Diabetes Care Stock Performance

The stock’s 50-day moving average price is $15.89 and its 200-day moving average price is $19.33. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of -11.10 and a beta of 1.58. The company has a debt-to-equity ratio of 4.54, a quick ratio of 3.07 and a current ratio of 3.58.

Tandem Diabetes Care (NASDAQ:TNDM) last released its quarterly earnings results on Thursday, May 7th. The medical device company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.16. Tandem Diabetes Care had a negative return on equity of 53.88% and a negative net margin of 9.20%.The business had revenue of $247.22 million for the quarter, compared to analysts’ expectations of $240.41 million. During the same quarter in the prior year, the firm posted ($0.66) EPS. The company’s revenue was up 5.5% compared to the same quarter last year. As a group, equities research analysts expect that Tandem Diabetes Care, Inc. will post -0.72 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Tandem Diabetes Care by 3.9% during the 4th quarter. Vanguard Group Inc. now owns 7,341,356 shares of the medical device company’s stock worth $161,363,000 after purchasing an additional 278,042 shares in the last quarter. Jennison Associates LLC raised its stake in Tandem Diabetes Care by 42.3% in the 4th quarter. Jennison Associates LLC now owns 2,021,376 shares of the medical device company’s stock valued at $44,430,000 after purchasing an additional 601,260 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in Tandem Diabetes Care in the 4th quarter valued at about $26,988,000. WINTON GROUP Ltd purchased a new position in Tandem Diabetes Care in the 4th quarter valued at about $972,000. Finally, Baillie Gifford & Co. boosted its stake in shares of Tandem Diabetes Care by 2.2% during the 4th quarter. Baillie Gifford & Co. now owns 1,145,516 shares of the medical device company’s stock worth $25,178,000 after purchasing an additional 24,921 shares during the last quarter.

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.