Tandem Diabetes Care (NASDAQ:TNDM) Trading 3.3% Higher – Should You Buy?

Tandem Diabetes Care, Inc. (NASDAQ:TNDM)’s stock price was up 3.3% on Monday . The stock traded as high as $32.16 and last traded at $32.04. Approximately 183,168 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 914,348 shares. The stock had previously closed at $31.00.

Analyst Ratings Changes

TNDM has been the topic of a number of recent analyst reports. Robert W. Baird reduced their target price on Tandem Diabetes Care from $39.00 to $37.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. Canaccord Genuity Group reissued a “buy” rating and set a $63.00 price objective on shares of Tandem Diabetes Care in a research note on Wednesday. Citigroup lowered their target price on shares of Tandem Diabetes Care from $57.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th. Barclays increased their target price on shares of Tandem Diabetes Care from $58.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Finally, Morgan Stanley raised shares of Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and set a $45.00 price target for the company in a report on Monday, December 2nd. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $54.25.

Tandem Diabetes Care Stock Performance

The stock has a fifty day moving average of $35.44 and a 200-day moving average of $36.64. The firm has a market capitalization of $2.21 billion, a P/E ratio of -17.40 and a beta of 1.32. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 1.29.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings results on Wednesday, February 26th. The medical device company reported ($0.44) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.19). Tandem Diabetes Care had a negative return on equity of 44.19% and a negative net margin of 14.84%. On average, research analysts anticipate that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Raymond James & Associates boosted its stake in shares of Tandem Diabetes Care by 8.0% in the third quarter. Raymond James & Associates now owns 104,418 shares of the medical device company’s stock valued at $4,428,000 after buying an additional 7,747 shares during the period. Private Advisor Group LLC acquired a new position in shares of Tandem Diabetes Care during the third quarter worth $220,000. International Assets Investment Management LLC increased its holdings in Tandem Diabetes Care by 4,141.2% in the 3rd quarter. International Assets Investment Management LLC now owns 6,998 shares of the medical device company’s stock worth $297,000 after purchasing an additional 6,833 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Tandem Diabetes Care by 54.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 60,648 shares of the medical device company’s stock valued at $2,575,000 after buying an additional 21,282 shares during the last quarter. Finally, abrdn plc bought a new position in shares of Tandem Diabetes Care during the third quarter valued at $6,126,000.

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.