Tandem Diabetes Care (NASDAQ:TNDM) Stock Price Up 4.2%

Tandem Diabetes Care, Inc. (NASDAQ:TNDM)’s stock price was up 4.2% during mid-day trading on Tuesday . The company traded as high as $44.49 and last traded at $44.49. Approximately 80,018 shares were traded during mid-day trading, a decline of 95% from the average daily volume of 1,638,013 shares. The stock had previously closed at $42.70.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Citigroup raised Tandem Diabetes Care from a “neutral” rating to a “buy” rating and increased their price target for the stock from $40.00 to $57.00 in a report on Wednesday, May 22nd. UBS Group upgraded shares of Tandem Diabetes Care to a “hold” rating in a research note on Friday, August 2nd. Barclays lifted their target price on shares of Tandem Diabetes Care from $55.00 to $58.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Oppenheimer increased their price target on shares of Tandem Diabetes Care from $47.00 to $58.00 and gave the stock an “outperform” rating in a report on Monday, June 10th. Finally, Morgan Stanley started coverage on Tandem Diabetes Care in a research report on Thursday, August 22nd. They set an “equal weight” rating and a $45.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Tandem Diabetes Care has an average rating of “Moderate Buy” and a consensus target price of $54.36.

Tandem Diabetes Care Trading Down 1.0 %

The company has a current ratio of 3.05, a quick ratio of 2.38 and a debt-to-equity ratio of 1.31. The stock has a 50-day simple moving average of $42.31 and a 200 day simple moving average of $40.44.

Tandem Diabetes Care (NASDAQ:TNDM) last released its quarterly earnings data on Thursday, August 1st. The medical device company reported ($0.47) EPS for the quarter, topping the consensus estimate of ($0.54) by $0.07. Tandem Diabetes Care had a negative net margin of 17.15% and a negative return on equity of 41.54%. The business had revenue of $221.90 million for the quarter, compared to analyst estimates of $205.63 million. During the same period in the previous year, the firm earned ($0.30) EPS. The business’s revenue for the quarter was up 13.3% compared to the same quarter last year. On average, equities analysts anticipate that Tandem Diabetes Care, Inc. will post -1.76 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. ORG Partners LLC acquired a new stake in Tandem Diabetes Care during the 2nd quarter valued at $31,000. Headlands Technologies LLC acquired a new stake in shares of Tandem Diabetes Care during the first quarter valued at $35,000. MCF Advisors LLC increased its position in Tandem Diabetes Care by 79.3% during the 1st quarter. MCF Advisors LLC now owns 1,006 shares of the medical device company’s stock worth $36,000 after purchasing an additional 445 shares in the last quarter. Daiwa Securities Group Inc. acquired a new position in Tandem Diabetes Care in the 2nd quarter valued at about $86,000. Finally, Signaturefd LLC lifted its holdings in Tandem Diabetes Care by 29.2% in the 2nd quarter. Signaturefd LLC now owns 2,307 shares of the medical device company’s stock valued at $93,000 after purchasing an additional 522 shares in the last quarter.

About Tandem Diabetes Care

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.