Tandem Diabetes Care (NASDAQ:TNDM) Stock Price Down 6.9% – What’s Next?

Tandem Diabetes Care, Inc. (NASDAQ:TNDM)’s stock price dropped 6.9% on Friday . The company traded as low as $20.29 and last traded at $20.9450. Approximately 443,714 shares were traded during mid-day trading, a decline of 58% from the average daily volume of 1,055,906 shares. The stock had previously closed at $22.50.

Wall Street Analyst Weigh In

TNDM has been the subject of a number of research analyst reports. Barclays lifted 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 note on Monday, November 10th. Morgan Stanley set a $23.00 target price on shares of Tandem Diabetes Care and gave the stock an “equal weight” rating in a research report on Tuesday, December 2nd. Truist Financial set a $24.00 price target on Tandem Diabetes Care and gave the company a “hold” rating in a report on Thursday, December 18th. Wells Fargo & Company raised their price target on Tandem Diabetes Care from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Friday, November 7th. Finally, Mizuho upped their price objective on Tandem Diabetes Care from $18.00 to $21.00 and gave the company a “neutral” rating in a research report on Wednesday, December 17th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Tandem Diabetes Care presently has a consensus rating of “Hold” and an average price target of $24.00.

Tandem Diabetes Care Stock Down 5.1%

The company has a 50-day moving average of $20.23 and a two-hundred day moving average of $16.29. The company has a debt-to-equity ratio of 2.33, a current ratio of 2.44 and a quick ratio of 1.90. The company has a market capitalization of $1.45 billion, a PE ratio of -7.03 and a beta of 1.68.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings results on Thursday, November 6th. The medical device company reported ($0.31) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.31). The business had revenue of $249.25 million during the quarter, compared to analyst estimates of $235.80 million. Tandem Diabetes Care had a negative net margin of 20.19% and a negative return on equity of 73.97%. The company’s revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the business posted ($0.35) earnings per share. Sell-side analysts anticipate 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 made changes to their positions in the business. Assenagon Asset Management S.A. bought a new stake in Tandem Diabetes Care during the 4th quarter valued at approximately $26,988,000. Diversified Trust Co. grew its holdings in Tandem Diabetes Care by 6.6% during the 4th quarter. Diversified Trust Co. now owns 19,558 shares of the medical device company’s stock valued at $430,000 after buying an additional 1,219 shares in the last quarter. 180 Wealth Advisors LLC raised its position in shares of Tandem Diabetes Care by 29.3% during the fourth quarter. 180 Wealth Advisors LLC now owns 13,443 shares of the medical device company’s stock valued at $295,000 after buying an additional 3,047 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Tandem Diabetes Care by 23.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 18,693 shares of the medical device company’s stock worth $440,000 after buying an additional 3,611 shares in the last quarter. Finally, Park Avenue Securities LLC bought a new position in shares of Tandem Diabetes Care during the fourth quarter worth $207,000.

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.