Tandem Diabetes Care (NASDAQ:TNDM) Shares Gap Up – Here’s Why

Tandem Diabetes Care, Inc. (NASDAQ:TNDM)’s share price gapped up prior to trading on Monday . The stock had previously closed at $30.63, but opened at $32.13. Tandem Diabetes Care shares last traded at $32.70, with a volume of 350,783 shares.

Analysts Set New Price Targets

Several brokerages recently commented on TNDM. Morgan Stanley upgraded shares of Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and set a $45.00 price target on the stock in a report on Monday. Barclays boosted their price target on shares of Tandem Diabetes Care from $58.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Robert W. Baird decreased their price objective on Tandem Diabetes Care from $39.00 to $37.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. Canaccord Genuity Group assumed coverage on shares of Tandem Diabetes Care in a research note on Thursday, August 8th. They issued a “buy” rating and a $57.00 target price for the company. Finally, Royal Bank of Canada initiated coverage on Tandem Diabetes Care in a research note on Wednesday, October 2nd. They set an “outperform” rating and a $65.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $54.25.

Tandem Diabetes Care Stock Performance

The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 1.29. The company has a market cap of $2.13 billion, a price-to-earnings ratio of -17.25 and a beta of 1.36. The stock’s fifty day simple moving average is $34.88 and its 200 day simple moving average is $40.74.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its earnings results on Wednesday, November 6th. The medical device company reported ($0.35) earnings per share for the quarter, beating the consensus estimate of ($0.43) by $0.08. Tandem Diabetes Care had a negative net margin of 14.84% and a negative return on equity of 44.19%. The firm had revenue of $243.97 million during the quarter, compared to the consensus estimate of $224.14 million. During the same quarter last year, the firm earned ($0.38) EPS. The firm’s revenue for the quarter was up 31.4% on a year-over-year basis. As a group, analysts anticipate that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current year.

Insider Activity

In other Tandem Diabetes Care news, Director Kim D. Blickenstaff sold 10,000 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $30.00, for a total value of $300,000.00. Following the sale, the director now owns 195,190 shares of the company’s stock, valued at $5,855,700. This trade represents a 4.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Tandem Diabetes Care

A number of large investors have recently modified their holdings of TNDM. Price T Rowe Associates Inc. MD raised its holdings in Tandem Diabetes Care by 5.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 38,732 shares of the medical device company’s stock worth $1,372,000 after purchasing an additional 1,985 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Tandem Diabetes Care by 11.2% during the second quarter. GAMMA Investing LLC now owns 4,276 shares of the medical device company’s stock worth $172,000 after purchasing an additional 431 shares during the last quarter. LVW Advisors LLC grew its holdings in shares of Tandem Diabetes Care by 15.1% during the second quarter. LVW Advisors LLC now owns 7,869 shares of the medical device company’s stock worth $317,000 after purchasing an additional 1,034 shares during the last quarter. Diversified Trust Co increased its position in shares of Tandem Diabetes Care by 11.1% during the second quarter. Diversified Trust Co now owns 14,635 shares of the medical device company’s stock worth $590,000 after purchasing an additional 1,462 shares in the last quarter. Finally, ORG Partners LLC acquired a new stake in shares of Tandem Diabetes Care in the 2nd quarter valued at about $31,000.

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.