Tandem Diabetes Care (NASDAQ:TNDM) Shares Up 7.9%

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) rose 7.9% during mid-day trading on Tuesday . The company traded as high as $34.36 and last traded at $34.24. Approximately 229,124 shares were traded during trading, a decline of 87% from the average daily volume of 1,715,144 shares. The stock had previously closed at $31.73.

Analyst Ratings Changes

TNDM has been the subject of a number of research reports. StockNews.com upgraded Tandem Diabetes Care from a “sell” rating to a “hold” rating in a research note on Friday. Stifel Nicolaus raised shares of Tandem Diabetes Care from a “hold” rating to a “buy” rating and lifted their price target for the stock from $24.00 to $37.00 in a research report on Tuesday, March 26th. Finally, Citigroup boosted their price objective on shares of Tandem Diabetes Care from $31.00 to $38.00 and gave the company a “neutral” rating in a report on Wednesday, April 3rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $37.00.

Tandem Diabetes Care Stock Up 8.3 %

The company has a debt-to-equity ratio of 0.91, a quick ratio of 3.02 and a current ratio of 3.83. The stock has a market cap of $2.22 billion, a price-to-earnings ratio of -9.95 and a beta of 1.11. The firm’s 50-day simple moving average is $30.09 and its two-hundred day simple moving average is $25.00.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings data on Wednesday, February 21st. The medical device company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.04). The firm had revenue of $196.80 million for the quarter, compared to the consensus estimate of $204.86 million. Tandem Diabetes Care had a negative net margin of 29.77% and a negative return on equity of 31.48%. On average, sell-side analysts expect that Tandem Diabetes Care, Inc. will post -1.62 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in TNDM. RiverPark Advisors LLC bought a new position in shares of Tandem Diabetes Care in the fourth quarter worth $27,000. MCF Advisors LLC boosted its holdings in Tandem Diabetes Care by 79.3% in the first quarter. MCF Advisors LLC now owns 1,006 shares of the medical device company’s stock worth $36,000 after acquiring an additional 445 shares in the last quarter. Signaturefd LLC boosted its position in shares of Tandem Diabetes Care by 871.8% during the fourth quarter. Signaturefd LLC now owns 1,691 shares of the medical device company’s stock valued at $50,000 after buying an additional 1,517 shares during the last quarter. Arcadia Investment Management Corp MI grew its position in Tandem Diabetes Care by 141.6% during the first quarter. Arcadia Investment Management Corp MI now owns 1,851 shares of the medical device company’s stock valued at $66,000 after buying an additional 1,085 shares during the period. Finally, PNC Financial Services Group Inc. raised its holdings in Tandem Diabetes Care by 51.7% during the third quarter. PNC Financial Services Group Inc. now owns 3,226 shares of the medical device company’s stock valued at $67,000 after acquiring an additional 1,099 shares during the period.

Tandem Diabetes Care Company Profile

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.