Tandem Diabetes Care (NASDAQ:TNDM) Stock Price Down 4.3% – Here’s What Happened

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) shares were down 4.3% during mid-day trading on Wednesday . The stock traded as low as $20.92 and last traded at $20.9010. Approximately 567,830 shares were traded during trading, a decline of 69% from the average daily volume of 1,835,723 shares. The stock had previously closed at $21.84.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Truist Financial reissued a “hold” rating and set a $17.00 target price (up previously from $16.00) on shares of Tandem Diabetes Care in a research note on Monday, November 10th. UBS Group lowered their price target on Tandem Diabetes Care from $20.00 to $17.00 and set a “neutral” rating on the stock in a research note on Thursday, August 7th. Canaccord Genuity Group restated a “buy” rating and issued a $24.00 price objective on shares of Tandem Diabetes Care in a report on Monday, September 29th. Piper Sandler lowered shares of Tandem Diabetes Care from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $30.00 to $14.00 in a report on Thursday, August 7th. Finally, Barclays boosted their price target on shares of Tandem Diabetes Care from $51.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday, November 10th. Four investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $21.25.

Tandem Diabetes Care Price Performance

The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of -6.80 and a beta of 1.51. The stock’s fifty day moving average price is $15.57 and its two-hundred day moving average price is $16.19. The company has a current ratio of 2.44, a quick ratio of 1.90 and a debt-to-equity ratio of 2.33.

Tandem Diabetes Care (NASDAQ:TNDM) last released its quarterly earnings results on Thursday, November 6th. The medical device company reported ($0.31) EPS for the quarter, meeting the consensus estimate of ($0.31). Tandem Diabetes Care had a negative net margin of 20.19% and a negative return on equity of 73.97%. The firm had revenue of $249.25 million during the quarter, compared to the consensus estimate of $235.80 million. During the same quarter in the prior year, the firm earned ($0.35) EPS. Tandem Diabetes Care’s revenue for the quarter was up 2.2% on a year-over-year basis. Tandem Diabetes Care has set its FY 2025 guidance at EPS. Equities research analysts expect that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current year.

Hedge Funds Weigh In On Tandem Diabetes Care

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TNDM. Allianz Asset Management GmbH purchased a new position in shares of Tandem Diabetes Care during the 1st quarter worth approximately $205,000. Cetera Investment Advisers grew its holdings in Tandem Diabetes Care by 31.8% during the 1st quarter. Cetera Investment Advisers now owns 18,700 shares of the medical device company’s stock valued at $358,000 after buying an additional 4,515 shares during the last quarter. Assetmark Inc. increased its position in Tandem Diabetes Care by 42.9% during the first quarter. Assetmark Inc. now owns 1,750 shares of the medical device company’s stock worth $34,000 after buying an additional 525 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Tandem Diabetes Care by 19.5% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,449 shares of the medical device company’s stock worth $411,000 after acquiring an additional 3,503 shares during the last quarter. Finally, Bayforest Capital Ltd lifted its position in shares of Tandem Diabetes Care by 197.0% in the first quarter. Bayforest Capital Ltd now owns 26,288 shares of the medical device company’s stock valued at $504,000 after acquiring an additional 17,436 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.