Tandem Diabetes Care (NASDAQ:TNDM) Trading Down 5.5% – Should You Sell?

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) was down 5.5% during mid-day trading on Tuesday . The stock traded as low as $14.58 and last traded at $15.3550. Approximately 322,057 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 2,141,933 shares. The stock had previously closed at $16.25.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Barclays set a $55.00 price target on shares of Tandem Diabetes Care and gave the company an “overweight” rating in a research report on Monday, May 11th. Benchmark started coverage on Tandem Diabetes Care in a research report on Monday, May 11th. They issued a “hold” rating on the stock. TD Cowen reiterated a “buy” rating and set a $28.00 target price (up from $25.00) on shares of Tandem Diabetes Care in a research note on Monday, April 20th. Deutsche Bank Aktiengesellschaft assumed coverage on Tandem Diabetes Care in a report on Tuesday, June 23rd. They issued a “hold” rating and a $15.50 target price for the company. Finally, Bank of America decreased their price target on Tandem Diabetes Care from $35.00 to $25.00 and set a “neutral” rating for the company in a research note on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $28.93.

Tandem Diabetes Care Stock Performance

The business’s 50 day simple moving average is $15.83 and its two-hundred day simple moving average is $19.28. The firm has a market capitalization of $1.05 billion, a PE ratio of -10.91 and a beta of 1.58. 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 quarterly earnings results on Thursday, May 7th. The medical device company reported ($0.30) earnings per share (EPS) for the quarter, topping 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 firm had revenue of $247.22 million for the quarter, compared to the consensus estimate of $240.41 million. During the same period last year, the business posted ($0.66) EPS. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. Research analysts expect that Tandem Diabetes Care, Inc. will post -0.72 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tandem Diabetes Care

A number of large investors have recently made changes to their positions in TNDM. Vanguard Group Inc. increased its position in Tandem Diabetes Care by 3.9% in the fourth quarter. Vanguard Group Inc. now owns 7,341,356 shares of the medical device company’s stock worth $161,363,000 after buying an additional 278,042 shares in the last quarter. Jennison Associates LLC lifted its position in shares of Tandem Diabetes Care by 42.3% during the 4th quarter. Jennison Associates LLC now owns 2,021,376 shares of the medical device company’s stock valued at $44,430,000 after buying an additional 601,260 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Tandem Diabetes Care during the 4th quarter valued at approximately $26,988,000. WINTON GROUP Ltd bought a new position in shares of Tandem Diabetes Care during the 4th quarter valued at approximately $972,000. Finally, Baillie Gifford & Co. increased its holdings in Tandem Diabetes Care by 2.2% in the 4th quarter. Baillie Gifford & Co. now owns 1,145,516 shares of the medical device company’s stock worth $25,178,000 after acquiring an additional 24,921 shares in the last quarter.

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.