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 traded.

Wall Street Analyst Weigh In

Several brokerages have issued reports on TNDM. Citigroup upped their target price on Tandem Diabetes Care from $25.00 to $31.00 and gave the stock a “neutral” rating in a research note on Friday, March 15th. Stifel Nicolaus raised 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 note on Tuesday. Finally, StockNews.com raised Tandem Diabetes Care from a “sell” rating to a “hold” rating in a research note on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $37.08.

Tandem Diabetes Care Stock Performance

The business has a fifty day moving average of $26.54 and a 200 day moving average of $23.50. The company has a quick ratio of 3.02, a current ratio of 3.83 and a debt-to-equity ratio of 0.91. The company has a market cap of $2.32 billion, a P/E ratio of -10.26 and a beta of 1.08.

Tandem Diabetes Care (NASDAQ:TNDM) last posted 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 during the quarter, compared to the consensus estimate of $204.86 million. Tandem Diabetes Care had a negative return on equity of 31.48% and a negative net margin of 29.77%. On average, equities analysts predict that Tandem Diabetes Care, Inc. will post -1.62 EPS for the current year.

Hedge Funds Weigh In On Tandem Diabetes Care

Several institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. boosted its position in shares of Tandem Diabetes Care by 45.1% during the first quarter. BlackRock Inc. now owns 9,207,560 shares of the medical device company’s stock valued at $373,919,000 after buying an additional 2,861,120 shares during the last quarter. Eminence Capital LP raised its stake in Tandem Diabetes Care by 76.1% during the 3rd quarter. Eminence Capital LP now owns 5,490,017 shares of the medical device company’s stock valued at $114,028,000 after purchasing an additional 2,372,458 shares during the period. GW&K Investment Management LLC bought a new stake in Tandem Diabetes Care during the 4th quarter valued at approximately $36,288,000. Point72 Asset Management L.P. increased its stake in Tandem Diabetes Care by 75,613.8% in the 4th quarter. Point72 Asset Management L.P. now owns 990,336 shares of the medical device company’s stock worth $29,294,000 after acquiring an additional 989,028 shares during the last quarter. Finally, Jennison Associates LLC boosted its holdings in shares of Tandem Diabetes Care by 252.6% in the 3rd quarter. Jennison Associates LLC now owns 1,122,915 shares of the medical device company’s stock worth $23,323,000 after purchasing an additional 804,488 shares during the period.

About Tandem Diabetes Care

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.