Stock Traders Buy High Volume of Call Options on Tandem Diabetes Care (NASDAQ:TNDM)

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) was the target of unusually large options trading on Monday. Stock traders bought 6,164 call options on the stock. This is an increase of 840% compared to the typical daily volume of 656 call options.

Tandem Diabetes Care Stock Performance

TNDM traded up $0.75 during mid-day trading on Monday, reaching $20.25. 1,273,405 shares of the company traded hands, compared to its average volume of 2,107,881. The company’s fifty day moving average price is $16.52 and its 200-day moving average price is $18.89. The stock has a market capitalization of $1.39 billion, a P/E ratio of -14.44 and a beta of 1.53. The company has a quick ratio of 3.07, a current ratio of 3.58 and a debt-to-equity ratio of 4.54. Tandem Diabetes Care has a 52-week low of $9.98 and a 52-week high of $29.65.

Tandem Diabetes Care (NASDAQ:TNDM) last released its quarterly earnings results on Thursday, May 7th. The medical device company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.16. Tandem Diabetes Care had a negative return on equity of 53.88% and a negative net margin of 9.20%.The firm had revenue of $247.22 million for the quarter, compared to the consensus estimate of $240.41 million. During the same period last year, the business posted ($0.66) EPS. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. On average, sell-side analysts expect that Tandem Diabetes Care will post -0.72 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Smartleaf Asset Management LLC grew its stake in shares of Tandem Diabetes Care by 80.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,330 shares of the medical device company’s stock valued at $30,000 after purchasing an additional 593 shares during the period. OP Asset Management Ltd purchased a new stake in shares of Tandem Diabetes Care during the 1st quarter valued at about $35,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of Tandem Diabetes Care by 200.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 2,205 shares of the medical device company’s stock worth $27,000 after purchasing an additional 1,470 shares during the period. Van ECK Associates Corp lifted its stake in shares of Tandem Diabetes Care by 67.4% in the 4th quarter. Van ECK Associates Corp now owns 3,430 shares of the medical device company’s stock worth $75,000 after purchasing an additional 1,381 shares during the period. Finally, Creative Financial Designs Inc. ADV boosted its holdings in shares of Tandem Diabetes Care by 36.0% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 3,431 shares of the medical device company’s stock worth $75,000 after buying an additional 909 shares during the last quarter.

Analyst Ratings Changes

Several brokerages have recently weighed in on TNDM. TD Cowen restated a “buy” rating and set a $28.00 price target (up from $25.00) on shares of Tandem Diabetes Care in a report on Monday, April 20th. UBS Group assumed coverage on shares of Tandem Diabetes Care in a research note on Tuesday, July 28th. They issued a “neutral” rating and a $18.00 price target on the stock. Citigroup reissued a “neutral” rating and set a $17.00 price objective (down from $22.00) on shares of Tandem Diabetes Care in a research report on Thursday, May 28th. Deutsche Bank Aktiengesellschaft began coverage on shares of Tandem Diabetes Care in a research note on Tuesday, June 23rd. They set a “hold” rating and a $15.50 price objective for the company. Finally, Truist Financial reaffirmed a “buy” rating and issued a $31.00 target price (down from $35.00) on shares of Tandem Diabetes Care in a report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $28.73.

Tandem Diabetes Care Company Profile

Tandem Diabetes Care, Inc (NASDAQ: TNDM), headquartered in San Diego, California, is a medical device company focused on the design, development and commercialization of innovative insulin delivery systems for people with insulin-dependent diabetes. Founded in 2006, the company introduced its first product, the t:slim® Insulin Pump, in 2011 and has since built a portfolio of next-generation pumps featuring touchscreen interfaces, remote software updates and integrated continuous glucose monitoring (CGM) capabilities.

The company’s flagship offering, the t:slim X2® Insulin Pump, is engineered to work with leading CGM sensors and features automated insulin delivery algorithms that adjust basal insulin rates based on real-time glucose trends.