Tandem Diabetes Care (NASDAQ:TNDM) Hits New 12-Month High at $105.25

Tandem Diabetes Care Inc (NASDAQ:TNDM) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $105.25 and last traded at $105.23, with a volume of 357211 shares. The stock had previously closed at $98.58.

A number of equities analysts have recently issued reports on TNDM shares. UBS Group raised their target price on shares of Tandem Diabetes Care from $98.00 to $106.00 and gave the stock a “buy” rating in a research report on Monday, June 22nd. Craig Hallum lowered their price objective on shares of Tandem Diabetes Care from $108.00 to $102.00 and set a “buy” rating on the stock in a research report on Monday, April 20th. Guggenheim lowered shares of Tandem Diabetes Care from a “buy” rating to a “neutral” rating in a research report on Monday, March 23rd. Oppenheimer initiated coverage on shares of Tandem Diabetes Care in a research report on Tuesday, June 30th. They issued a “buy” rating and a $102.00 price objective on the stock. Finally, BidaskClub lowered shares of Tandem Diabetes Care from a “buy” rating to a “hold” rating in a research report on Thursday, May 28th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Tandem Diabetes Care currently has an average rating of “Buy” and an average target price of $97.23.

The firm’s 50-day simple moving average is $86.02 and its 200 day simple moving average is $74.63. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.21 and a current ratio of 2.82.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its earnings results on Thursday, April 30th. The medical device company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.07). The company had revenue of $97.90 million for the quarter, compared to analysts’ expectations of $84.49 million. Tandem Diabetes Care had a negative return on equity of 9.39% and a negative net margin of 4.22%. Tandem Diabetes Care’s revenue for the quarter was up 49.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.40) earnings per share. As a group, sell-side analysts predict that Tandem Diabetes Care Inc will post -0.49 earnings per share for the current fiscal year.

In related news, CFO Leigh Vosseller sold 10,000 shares of the business’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $105.04, for a total value of $1,050,400.00. Following the completion of the transaction, the chief financial officer now owns 14,520 shares of the company’s stock, valued at approximately $1,525,180.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christopher J. Twomey sold 4,308 shares of the business’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $80.00, for a total transaction of $344,640.00. The disclosure for this sale can be found here. Insiders have sold a total of 119,308 shares of company stock valued at $11,403,000 in the last ninety days. Corporate insiders own 6.00% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. FMR LLC grew its holdings in shares of Tandem Diabetes Care by 248.9% during the 1st quarter. FMR LLC now owns 705,789 shares of the medical device company’s stock worth $44,818,000 after purchasing an additional 503,482 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Tandem Diabetes Care by 19.9% during the 4th quarter. Victory Capital Management Inc. now owns 13,689 shares of the medical device company’s stock worth $816,000 after purchasing an additional 2,269 shares during the period. Envestnet Asset Management Inc. purchased a new stake in shares of Tandem Diabetes Care during the 4th quarter worth about $234,000. Schroder Investment Management Group purchased a new position in Tandem Diabetes Care in the 4th quarter worth approximately $141,000. Finally, Great West Life Assurance Co. Can purchased a new position in Tandem Diabetes Care in the 4th quarter worth approximately $209,000. Institutional investors own 93.44% of the company’s stock.

Tandem Diabetes Care Company Profile (NASDAQ:TNDM)

Tandem Diabetes Care, Inc, a medical device company, designs, develops, and commercializes various products for people with insulin-dependent diabetes in the United States. The company's flagship product is the t:slim X2 insulin delivery system that comprises t:slim X2 pump, its 300-unit disposable insulin cartridge, and an infusion set.

Further Reading: Oversold

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