Tandem Diabetes Care (NASDAQ:TNDM) Shares Down 6.1% – What’s Next?

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) was down 6.1% during mid-day trading on Monday . The company traded as low as $14.52 and last traded at $14.5280. Approximately 285,031 shares traded hands during trading, a decline of 85% from the average daily volume of 1,960,326 shares. The stock had previously closed at $15.48.

Analysts Set New Price Targets

A number of equities analysts have issued reports on TNDM shares. Truist Financial reaffirmed a “buy” rating and set a $31.00 price target (down from $35.00) on shares of Tandem Diabetes Care in a research note on Monday. UBS Group reiterated a “neutral” rating and set a $22.00 price objective (up from $17.00) on shares of Tandem Diabetes Care in a research report on Friday, February 20th. TD Cowen reiterated a “buy” rating and set a $28.00 price objective (up from $25.00) on shares of Tandem Diabetes Care in a research report on Monday, April 20th. Piper Sandler upgraded Tandem Diabetes Care from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $21.00 to $33.00 in a research report on Tuesday, March 17th. Finally, The Goldman Sachs Group cut their price objective on Tandem Diabetes Care from $28.00 to $25.00 and set a “neutral” rating for the company in a research report on Thursday, April 9th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $29.89.

Tandem Diabetes Care Price Performance

The business has a 50-day moving average price of $21.32 and a 200 day moving average price of $20.33. The company has a market cap of $1.01 billion, a price-to-earnings ratio of -10.55 and a beta of 1.64. The company has a current ratio of 3.58, a quick ratio of 3.07 and a debt-to-equity ratio of 4.54.

Tandem Diabetes Care (NASDAQ:TNDM) last released its earnings results on Thursday, May 7th. The medical device company reported ($0.30) earnings per share (EPS) for the quarter, beating 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 company had revenue of $247.22 million during the quarter, compared to analyst estimates of $240.41 million. During the same quarter in the prior year, the company earned ($0.66) earnings per share. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. As a group, research analysts expect that Tandem Diabetes Care, Inc. will post -0.93 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tandem Diabetes Care

Several hedge funds have recently bought and sold shares of the business. State of Alaska Department of Revenue lifted its stake in Tandem Diabetes Care by 1.4% in the 4th quarter. State of Alaska Department of Revenue now owns 38,676 shares of the medical device company’s stock worth $849,000 after acquiring an additional 523 shares in the last quarter. ProShare Advisors LLC lifted its stake in Tandem Diabetes Care by 4.6% in the 4th quarter. ProShare Advisors LLC now owns 13,185 shares of the medical device company’s stock worth $290,000 after acquiring an additional 579 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in Tandem Diabetes Care by 80.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,330 shares of the medical device company’s stock worth $30,000 after acquiring an additional 593 shares in the last quarter. Natixis Advisors LLC lifted its stake in Tandem Diabetes Care by 1.1% in the 4th quarter. Natixis Advisors LLC now owns 57,021 shares of the medical device company’s stock worth $1,253,000 after acquiring an additional 617 shares in the last quarter. Finally, Amalgamated Bank lifted its stake in Tandem Diabetes Care by 3.5% in the 3rd quarter. Amalgamated Bank now owns 19,617 shares of the medical device company’s stock worth $238,000 after acquiring an additional 657 shares in the last quarter.

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.