Tandem Diabetes Care (NASDAQ:TNDM) Shares Gap Up to $30.10

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) shares gapped up prior to trading on Tuesday . The stock had previously closed at $30.10, but opened at $31.96. Tandem Diabetes Care shares last traded at $32.47, with a volume of 528,298 shares trading hands.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on TNDM shares. Citigroup increased their price objective on shares of Tandem Diabetes Care from $25.00 to $31.00 and gave the company a “neutral” rating in a research report on Friday, March 15th. StockNews.com raised shares of Tandem Diabetes Care from a “sell” rating to a “hold” rating in a research report on Thursday, March 21st. Finally, Stifel Nicolaus raised shares of Tandem Diabetes Care from a “hold” rating to a “buy” rating and increased their price objective for the company from $24.00 to $37.00 in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $37.08.

Tandem Diabetes Care Trading Up 4.8 %

The firm has a market capitalization of $2.32 billion, a P/E ratio of -10.26 and a beta of 1.08. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.83 and a quick ratio of 3.02. The business’s 50-day moving average is $26.54 and its 200 day moving average is $23.50.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings data on Wednesday, February 21st. The medical device company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.04). The firm had revenue of $196.80 million for the quarter, compared to analyst estimates of $204.86 million. Tandem Diabetes Care had a negative return on equity of 31.48% and a negative net margin of 29.77%. As a group, analysts anticipate that Tandem Diabetes Care, Inc. will post -1.62 EPS for the current fiscal year.

Institutional Investors Weigh In On Tandem Diabetes Care

Large investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. boosted its stake in shares of Tandem Diabetes Care by 2.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,246 shares of the medical device company’s stock valued at $726,000 after purchasing an additional 164 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of Tandem Diabetes Care by 3.4% in the 1st quarter. Canada Pension Plan Investment Board now owns 5,616 shares of the medical device company’s stock valued at $654,000 after purchasing an additional 184 shares in the last quarter. State of Wyoming boosted its stake in shares of Tandem Diabetes Care by 45.8% in the 4th quarter. State of Wyoming now owns 821 shares of the medical device company’s stock valued at $37,000 after purchasing an additional 258 shares in the last quarter. Stephens Inc. AR boosted its stake in shares of Tandem Diabetes Care by 17.6% in the 1st quarter. Stephens Inc. AR now owns 2,120 shares of the medical device company’s stock valued at $86,000 after purchasing an additional 317 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of Tandem Diabetes Care by 0.3% in the 2nd quarter. Legal & General Group Plc now owns 97,817 shares of the medical device company’s stock valued at $5,790,000 after purchasing an additional 318 shares in the last quarter.

Tandem Diabetes Care Company Profile

Tandem Diabetes Care, Inc, a medical device company, designs, develops, and commercializes technology solutions for people living with diabetes in the United States and internationally. The company's flagship product is the t:slim X2 insulin delivery system, a pump platform for managing insulin delivery and display continuous glucose monitoring sensor information directly on the pump home screen; and Tandem Mobi insulin pump, an automated insulin delivery system.