Tandem Diabetes Care (NASDAQ:TNDM) Shares Pass Above Two Hundred Day Moving Average – Here’s Why

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $19.21 and traded as high as $21.74. Tandem Diabetes Care shares last traded at $20.56, with a volume of 1,134,321 shares traded.

Analyst Upgrades and Downgrades

TNDM has been the topic of several research reports. The Goldman Sachs Group set a $21.00 price objective on shares of Tandem Diabetes Care in a research report on Wednesday, May 27th. Weiss Ratings cut shares of Tandem Diabetes Care from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, June 11th. Royal Bank Of Canada restated an “outperform” rating and set a $26.00 price objective (down from $30.00) on shares of Tandem Diabetes Care in a research report on Friday, August 7th. Oppenheimer reaffirmed an “outperform” rating on shares of Tandem Diabetes Care in a research report on Friday, August 7th. Finally, Truist Financial reaffirmed a “buy” rating and set a $31.00 target price (down from $35.00) on shares of Tandem Diabetes Care in a research note on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Tandem Diabetes Care presently has a consensus rating of “Hold” and a consensus target price of $28.98.

Tandem Diabetes Care Price Performance

The company has a current ratio of 3.18, a quick ratio of 2.65 and a debt-to-equity ratio of 4.62. The stock has a market cap of $1.41 billion, a PE ratio of -21.80 and a beta of 1.55. The company has a fifty day moving average of $19.05 and a 200-day moving average of $19.22.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings data on Thursday, August 6th. The medical device company reported ($0.31) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.01. Tandem Diabetes Care had a negative net margin of 6.08% and a negative return on equity of 45.97%. The business had revenue of $254.56 million during the quarter, compared to analyst estimates of $254.99 million. During the same quarter in the previous year, the business posted ($0.78) earnings per share. The company’s revenue was up 5.8% on a year-over-year basis. Sell-side analysts expect that Tandem Diabetes Care, Inc. will post -0.65 EPS for the current fiscal year.

Hedge Funds Weigh In On Tandem Diabetes Care

Hedge funds have recently made changes to their positions in the business. Freestone Grove Partners LP purchased a new stake in shares of Tandem Diabetes Care in the 3rd quarter valued at approximately $22,706,000. First Light Asset Management LLC purchased a new position in Tandem Diabetes Care during the fourth quarter valued at approximately $23,947,000. California State Teachers Retirement System lifted its position in Tandem Diabetes Care by 1,283.1% in the 2nd quarter. California State Teachers Retirement System now owns 1,165,355 shares of the medical device company’s stock worth $17,585,000 after buying an additional 1,081,100 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Tandem Diabetes Care by 468.5% during the 4th quarter. BNP Paribas Financial Markets now owns 1,248,481 shares of the medical device company’s stock valued at $27,442,000 after buying an additional 1,028,866 shares during the period. Finally, Marshall Wace LLP purchased a new position in shares of Tandem Diabetes Care during the 4th quarter valued at $19,244,000.

About Tandem Diabetes Care

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.