Tandem Diabetes Care (NASDAQ:TNDM) Trading Down 6.6% – Here’s Why

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) shares were down 6.6% during mid-day trading on Friday . The stock traded as low as $21.54 and last traded at $21.7750. Approximately 742,799 shares were traded during trading, a decline of 63% from the average daily volume of 1,991,973 shares. The stock had previously closed at $23.32.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on TNDM shares. Citigroup increased their target price on Tandem Diabetes Care from $16.00 to $22.00 and gave the stock a “neutral” rating in a research report on Thursday, December 11th. Stifel Nicolaus upped their price target on shares of Tandem Diabetes Care from $20.00 to $22.00 and gave the stock a “hold” rating in a research report on Friday, February 20th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Tandem Diabetes Care in a report on Wednesday, January 21st. Royal Bank Of Canada reiterated an “outperform” rating and issued a $30.00 price objective on shares of Tandem Diabetes Care in a research report on Wednesday, December 17th. Finally, Mizuho set a $22.00 target price on shares of Tandem Diabetes Care and gave the stock a “neutral” rating in a research report on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $29.22.

Tandem Diabetes Care Stock Performance

The firm’s 50-day simple moving average is $21.71 and its two-hundred day simple moving average is $19.00. The company has a current ratio of 2.55, a quick ratio of 2.02 and a debt-to-equity ratio of 2.00. The stock has a market capitalization of $1.45 billion, a PE ratio of -6.95 and a beta of 1.63.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings results on Thursday, February 19th. The medical device company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.04. The company had revenue of $290.38 million during the quarter, compared to the consensus estimate of $277.14 million. Tandem Diabetes Care had a negative return on equity of 68.23% and a negative net margin of 20.17%.The business’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period last year, the business earned $0.01 EPS. On average, equities research analysts expect that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tandem Diabetes Care

Hedge funds have recently modified their holdings of the stock. Smartleaf Asset Management LLC grew its position in Tandem Diabetes Care by 80.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,330 shares of the medical device company’s stock valued at $30,000 after acquiring an additional 593 shares during the period. Caitong International Asset Management Co. Ltd boosted its stake 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 valued at $27,000 after purchasing an additional 1,470 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Tandem Diabetes Care by 67.4% in the 4th quarter. Van ECK Associates Corp now owns 3,430 shares of the medical device company’s stock worth $75,000 after purchasing an additional 1,381 shares during the last quarter. Creative Financial Designs Inc. ADV increased its position in shares of Tandem Diabetes Care by 36.0% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 3,431 shares of the medical device company’s stock worth $75,000 after purchasing an additional 909 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in Tandem Diabetes Care by 36.6% during the 4th quarter. Farther Finance Advisors LLC now owns 3,600 shares of the medical device company’s stock valued at $79,000 after purchasing an additional 965 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.