Tandem Diabetes Care (NASDAQ:TNDM) Shares Down 4% – What’s Next?

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) shares dropped 4% on Friday . The company traded as low as $36.46 and last traded at $36.02. Approximately 102,680 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 867,878 shares. The stock had previously closed at $37.53.

Analyst Ratings Changes

Several brokerages have issued reports on TNDM. Canaccord Genuity Group dropped their target price on shares of Tandem Diabetes Care from $57.00 to $56.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Morgan Stanley upgraded shares of Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and set a $45.00 target price for the company in a research report on Monday, December 2nd. Barclays raised their price target on Tandem Diabetes Care from $58.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Royal Bank of Canada began coverage on Tandem Diabetes Care in a report on Wednesday, October 2nd. They issued an “outperform” rating and a $65.00 price objective for the company. Finally, Citigroup reduced their price objective on Tandem Diabetes Care from $57.00 to $50.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Tandem Diabetes Care has an average rating of “Moderate Buy” and an average price target of $53.81.

Tandem Diabetes Care Trading Down 8.1 %

The firm’s 50 day moving average is $33.48 and its 200 day moving average is $37.98. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.90 and a quick ratio of 2.32. The company has a market capitalization of $2.27 billion, a PE ratio of -17.80 and a beta of 1.29.

Tandem Diabetes Care (NASDAQ:TNDM) last released its quarterly earnings data on Wednesday, November 6th. The medical device company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.08. The firm had revenue of $243.97 million for the quarter, compared to analysts’ expectations of $224.14 million. Tandem Diabetes Care had a negative net margin of 14.84% and a negative return on equity of 44.19%. The company’s revenue for the quarter was up 31.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.38) earnings per share. As a group, equities analysts predict that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current year.

Insider Buying and Selling at Tandem Diabetes Care

In related news, Director Kim D. Blickenstaff sold 10,000 shares of Tandem Diabetes Care stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $30.00, for a total value of $300,000.00. Following the sale, the director now owns 195,190 shares in the company, valued at $5,855,700. The trade was a 4.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tandem Diabetes Care

Several institutional investors and hedge funds have recently modified their holdings of TNDM. Brooklyn Investment Group bought a new position in Tandem Diabetes Care in the third quarter worth about $28,000. Assetmark Inc. purchased a new position in shares of Tandem Diabetes Care during the 3rd quarter worth approximately $29,000. ORG Wealth Partners LLC bought a new position in shares of Tandem Diabetes Care in the 3rd quarter worth approximately $30,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Tandem Diabetes Care by 4.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,664 shares of the medical device company’s stock worth $664,000 after acquiring an additional 704 shares in the last quarter. Finally, Hanseatic Management Services Inc. lifted its stake in shares of Tandem Diabetes Care by 5.4% in the 3rd quarter. Hanseatic Management Services Inc. now owns 13,941 shares of the medical device company’s stock valued at $591,000 after purchasing an additional 710 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.