Tandem Diabetes Care (NASDAQ:TNDM) Shares Gap Down to $43.39

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) gapped down before the market opened on Wednesday . The stock had previously closed at $43.39, but opened at $39.14. Tandem Diabetes Care shares last traded at $40.69, with a volume of 763,030 shares.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TNDM. Stifel Nicolaus lifted their price target on shares of Tandem Diabetes Care from $45.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, May 22nd. Redburn Atlantic initiated coverage on Tandem Diabetes Care in a research report on Thursday, May 30th. They issued a “buy” rating and a $60.00 target price for the company. Citigroup upgraded 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. Oppenheimer boosted their price objective on Tandem Diabetes Care from $47.00 to $58.00 and gave the company an “outperform” rating in a report on Monday, June 10th. Finally, Wells Fargo & Company increased their target price on Tandem Diabetes Care from $50.00 to $55.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $54.73.

Tandem Diabetes Care Stock Performance

The company has a debt-to-equity ratio of 1.43, a current ratio of 3.81 and a quick ratio of 3.01. The company’s fifty day moving average price is $43.77 and its 200 day moving average price is $36.61. The company has a market cap of $2.44 billion, a PE ratio of -18.49 and a beta of 1.28.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings data on Thursday, August 1st. The medical device company reported ($0.47) EPS for the quarter, beating 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 39.52%. The firm had revenue of $221.90 million during the quarter, compared to analyst estimates of $205.63 million. During the same quarter last year, the business posted ($0.30) EPS. The company’s revenue for the quarter was up 13.3% on a year-over-year basis. On average, equities research analysts predict that Tandem Diabetes Care, Inc. will post -1.71 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Dick Allen sold 5,000 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $51.68, for a total value of $258,400.00. Following the transaction, the director now directly owns 24,396 shares of the company’s stock, valued at approximately $1,260,785.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tandem Diabetes Care

Several institutional investors have recently bought and sold shares of TNDM. Raymond James & Associates raised its stake in shares of Tandem Diabetes Care by 128.5% in the fourth quarter. Raymond James & Associates now owns 91,985 shares of the medical device company’s stock valued at $2,721,000 after buying an additional 51,721 shares during the period. International Assets Investment Management LLC lifted its stake in shares of Tandem Diabetes Care by 2,858.2% during the 4th quarter. International Assets Investment Management LLC now owns 4,881 shares of the medical device company’s stock valued at $144,000 after buying an additional 4,716 shares in the last quarter. 180 Wealth Advisors LLC purchased a new stake in shares of Tandem Diabetes Care during the 4th quarter valued at approximately $228,000. Louisiana State Employees Retirement System purchased a new position in Tandem Diabetes Care in the 4th quarter valued at approximately $964,000. Finally, Lecap Asset Management Ltd. bought a new stake in Tandem Diabetes Care during the 4th quarter valued at $525,000.

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.