Tandem Diabetes Care (NASDAQ:TNDM) Trading Down 4.3%

Tandem Diabetes Care, Inc. (NASDAQ:TNDM)’s share price fell 4.3% on Tuesday . The company traded as low as $40.33 and last traded at $40.42. 100,883 shares were traded during trading, a decline of 94% from the average session volume of 1,655,442 shares. The stock had previously closed at $42.24.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Oppenheimer lifted their target price on Tandem Diabetes Care from $47.00 to $58.00 and gave the company an “outperform” rating in a report on Monday, June 10th. Stifel Nicolaus lifted their price target on shares of Tandem Diabetes Care from $45.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, May 22nd. UBS Group raised shares of Tandem Diabetes Care to a “hold” rating in a research report on Friday, August 2nd. Barclays boosted their target price on shares of Tandem Diabetes Care from $55.00 to $58.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Finally, Piper Sandler restated an “overweight” rating and issued a $55.00 price target (up from $50.00) on shares of Tandem Diabetes Care in a research note on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Tandem Diabetes Care currently has an average rating of “Moderate Buy” and an average price target of $54.36.

Tandem Diabetes Care Price Performance

The company has a debt-to-equity ratio of 1.31, a quick ratio of 2.38 and a current ratio of 3.05. The company has a market capitalization of $2.76 billion, a PE ratio of -19.69 and a beta of 1.32. The company’s 50-day simple moving average is $42.12 and its 200-day simple moving average is $39.87.

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. KBC Group NV raised its holdings in shares of Tandem Diabetes Care by 256.1% in the 4th quarter. KBC Group NV now owns 239,944 shares of the medical device company’s stock worth $7,098,000 after purchasing an additional 172,570 shares during the period. BNP Paribas Financial Markets raised its stake in shares of Tandem Diabetes Care by 1,481.5% during the first quarter. BNP Paribas Financial Markets now owns 145,812 shares of the medical device company’s stock valued at $5,163,000 after purchasing an additional 136,592 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Tandem Diabetes Care during the first quarter worth approximately $540,000. Vanguard Group Inc. boosted its position in shares of Tandem Diabetes Care by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 7,052,570 shares of the medical device company’s stock valued at $249,732,000 after purchasing an additional 30,664 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Tandem Diabetes Care during the first quarter worth $5,227,000.

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.