Tandem Diabetes Care (NASDAQ:TNDM) Share Price Breaks Below 200-Day Moving Average – Here’s Why

Tandem Diabetes Care, Inc. (NASDAQ:TNDM)’s share price crossed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $18.93 and traded as low as $18.42. Tandem Diabetes Care shares last traded at $18.67, with a volume of 2,901,119 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Barclays raised Tandem Diabetes Care to a “hold” rating in a research note on Wednesday, October 7th. Royal Bank Of Canada reiterated an “outperform” rating and set a $26.00 price target (down from $30.00) on shares of Tandem Diabetes Care in a research report on Friday, August 7th. Mizuho set a $18.00 price objective on Tandem Diabetes Care in a research note on Tuesday, October 13th. Truist Financial decreased their price objective on Tandem Diabetes Care from $31.00 to $28.00 and set a “buy” rating on the stock in a report on Thursday, September 24th. Finally, UBS Group assumed coverage on shares of Tandem Diabetes Care in a research note on Tuesday, July 28th. They set a “neutral” rating and a $18.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $27.08.

Tandem Diabetes Care Price Performance

The business has a 50-day moving average of $17.81 and a 200-day moving average of $18.91. The company has a current ratio of 3.18, a quick ratio of 2.65 and a debt-to-equity ratio of 4.62.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings data on Thursday, August 6th. The medical device company reported ($0.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.32) by $0.01. The firm had revenue of $254.56 million for the quarter, compared to analyst estimates of $254.99 million. Tandem Diabetes Care had a negative net margin of 6.08% and a negative return on equity of 45.97%. Tandem Diabetes Care’s revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.78) EPS. On average, sell-side analysts forecast that Tandem Diabetes Care, Inc. will post -0.66 EPS for the current year.

Insider Activity

In other news, Director Christopher J. Twomey sold 1,700 shares of the business’s stock in a transaction that occurred on Tuesday, October 27th. The shares were sold at an average price of $19.15, for a total value of $32,555.00. Following the sale, the director directly owned 24,434 shares of the company’s stock, valued at approximately $467,911.10. The trade was a 6.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Tandem Diabetes Care

A number of hedge funds have recently made changes to their positions in TNDM. Leonteq Securities AG raised its position in Tandem Diabetes Care by 21.7% in the first quarter. Leonteq Securities AG now owns 9,501 shares of the medical device company’s stock valued at $182,000 after purchasing an additional 1,695 shares during the period. Sterling Capital Management LLC lifted its stake in Tandem Diabetes Care by 849.0% during the third quarter. Sterling Capital Management LLC now owns 2,325 shares of the medical device company’s stock worth $38,000 after purchasing an additional 2,080 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of Tandem Diabetes Care during the second quarter worth $33,000. 180 Wealth Advisors LLC boosted its position in shares of Tandem Diabetes Care by 17.3% during the first quarter. 180 Wealth Advisors LLC now owns 15,763 shares of the medical device company’s stock worth $302,000 after buying an additional 2,320 shares during the period. Finally, Summit Global Investments boosted its position in shares of Tandem Diabetes Care by 13.9% during the third quarter. Summit Global Investments now owns 24,753 shares of the medical device company’s stock worth $404,000 after buying an additional 3,017 shares during the period.

Tandem Diabetes Care Company Profile

Tandem Diabetes Care, Inc is a medical device company focused on developing and commercializing advanced insulin delivery systems for people with diabetes. The company’s products are designed to help automate and simplify insulin therapy while supporting integration with continuous glucose monitoring (CGM) technology.

Tandem’s product portfolio includes the t:slim X2 Insulin Pump and the compact Tandem Mobi system, along with insulin cartridges, infusion sets, accessories and diabetes management software.