Tandem Diabetes Care (NASDAQ:TNDM) Issues Quarterly Earnings Results

Tandem Diabetes Care (NASDAQ:TNDM) posted its earnings results on Thursday. The medical device company reported ($0.31) EPS for the quarter, meeting analysts’ consensus estimates of ($0.31), Zacks reports. The company had revenue of $249.25 million for the quarter, compared to the consensus estimate of $235.80 million. Tandem Diabetes Care had a negative return on equity of 68.85% and a negative net margin of 20.19%.The company’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.35) earnings per share. Tandem Diabetes Care updated its FY 2025 guidance to EPS.

Tandem Diabetes Care Stock Up 22.0%

Shares of NASDAQ TNDM traded up $2.93 during mid-day trading on Friday, hitting $16.26. The company had a trading volume of 6,034,565 shares, compared to its average volume of 1,753,841. The company has a market capitalization of $1.10 billion, a PE ratio of -5.33 and a beta of 1.51. The business’s 50-day simple moving average is $13.68 and its 200 day simple moving average is $16.20. Tandem Diabetes Care has a 1-year low of $9.98 and a 1-year high of $38.28. The company has a debt-to-equity ratio of 2.32, a current ratio of 2.44 and a quick ratio of 1.88.

Analyst Ratings Changes

Several analysts recently issued reports on TNDM shares. Wells Fargo & Company boosted their price objective on shares of Tandem Diabetes Care from $13.00 to $14.00 and gave the company an “equal weight” rating in a report on Friday. Wall Street Zen raised shares of Tandem Diabetes Care from a “sell” rating to a “hold” rating in a research note on Saturday. UBS Group lowered their price objective on shares of Tandem Diabetes Care from $20.00 to $17.00 and set a “neutral” rating for the company in a research report on Thursday, August 7th. Canaccord Genuity Group reissued a “buy” rating and issued a $24.00 target price on shares of Tandem Diabetes Care in a research report on Monday, September 29th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Tandem Diabetes Care in a research note on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $21.25.

Insiders Place Their Bets

In related news, CEO John F. Sheridan purchased 10,000 shares of Tandem Diabetes Care stock in a transaction on Monday, August 11th. The shares were bought at an average price of $10.23 per share, with a total value of $102,300.00. Following the transaction, the chief executive officer directly owned 106,327 shares of the company’s stock, valued at approximately $1,087,725.21. This trade represents a 10.38% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.90% of the stock is currently owned by company insiders.

Institutional Trading of Tandem Diabetes Care

Hedge funds have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC grew its holdings in Tandem Diabetes Care by 218.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 9,168 shares of the medical device company’s stock worth $171,000 after acquiring an additional 6,290 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Tandem Diabetes Care during the 1st quarter worth about $225,000. Arrowstreet Capital Limited Partnership acquired a new stake in Tandem Diabetes Care during the 2nd quarter worth $231,000. State of Wyoming lifted its position in Tandem Diabetes Care by 379.9% in the second quarter. State of Wyoming now owns 21,436 shares of the medical device company’s stock valued at $400,000 after acquiring an additional 16,969 shares during the last quarter. Finally, Corient Private Wealth LLC boosted its stake in Tandem Diabetes Care by 109.4% in the second quarter. Corient Private Wealth LLC now owns 23,600 shares of the medical device company’s stock valued at $440,000 after acquiring an additional 12,331 shares in the last quarter.

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.