Tandem Diabetes Care (NASDAQ:TNDM) Shares Up 9% – Should You Buy?

Tandem Diabetes Care, Inc. (NASDAQ:TNDM)’s share price shot up 9% during mid-day trading on Friday . The stock traded as high as $17.49 and last traded at $18.22. 202,456 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 2,106,114 shares. The stock had previously closed at $16.72.

Analyst Ratings Changes

Several brokerages have recently issued reports on TNDM. Mizuho set a $24.00 target price on shares of Tandem Diabetes Care in a report on Friday, May 8th. Morgan Stanley lifted their price target on shares of Tandem Diabetes Care from $23.00 to $25.00 and gave the company an “equal weight” rating in a report on Monday, March 2nd. Lake Street Capital upgraded shares of Tandem Diabetes Care from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a report on Monday, February 23rd. Rothschild & Co Redburn set a $45.00 price target on shares of Tandem Diabetes Care in a report on Friday, April 24th. Finally, Barclays set a $55.00 price target on shares of Tandem Diabetes Care and gave the company an “overweight” rating in a report on Monday, May 11th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Tandem Diabetes Care currently has an average rating of “Moderate Buy” and an average price target of $29.16.

Tandem Diabetes Care Price Performance

The firm has a 50-day simple moving average of $18.80 and a 200 day simple moving average of $20.31. The company has a debt-to-equity ratio of 4.54, a current ratio of 3.58 and a quick ratio of 3.07. The firm has a market cap of $1.18 billion, a PE ratio of -12.37 and a beta of 1.64.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings results on Thursday, May 7th. The medical device company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.46) by $0.16. The firm had revenue of $247.22 million during the quarter, compared to analyst estimates of $240.41 million. Tandem Diabetes Care had a negative return on equity of 53.88% and a negative net margin of 9.20%.Tandem Diabetes Care’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.66) EPS. As a group, equities analysts expect that Tandem Diabetes Care, Inc. will post -0.79 EPS for the current year.

Hedge Funds Weigh In On Tandem Diabetes Care

Large investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd raised its position 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 last quarter. Smartleaf Asset Management LLC raised its position 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 buying an additional 593 shares during the last quarter. OP Asset Management Ltd purchased a new position in Tandem Diabetes Care in the 1st quarter worth about $35,000. Quarry LP raised its position in Tandem Diabetes Care by 2,597.1% in the 3rd quarter. Quarry LP now owns 3,695 shares of the medical device company’s stock worth $45,000 after buying an additional 3,558 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd raised its position in Tandem Diabetes Care by 485.1% in the 3rd quarter. Aster Capital Management DIFC Ltd now owns 5,149 shares of the medical device company’s stock worth $63,000 after buying an additional 4,269 shares during 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.