Tandem Diabetes Care (NASDAQ:TNDM) Shares Gap Up – Should You Buy?

Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) gapped up before the market opened on Tuesday . The stock had previously closed at $22.11, but opened at $24.46. Tandem Diabetes Care shares last traded at $22.9050, with a volume of 843,664 shares trading hands.

Analyst Upgrades and Downgrades

TNDM has been the topic of several recent analyst reports. Citigroup upped their price target on Tandem Diabetes Care from $16.00 to $22.00 and gave the company a “neutral” rating in a research report on Thursday, December 11th. Stifel Nicolaus initiated coverage on Tandem Diabetes Care in a report on Tuesday, October 21st. They issued a “hold” rating and a $15.00 target price on the stock. Morgan Stanley set a $23.00 price target on shares of Tandem Diabetes Care and gave the stock an “equal weight” rating in a research report on Tuesday, December 2nd. Truist Financial reaffirmed a “hold” rating and set a $17.00 price objective (up from $16.00) on shares of Tandem Diabetes Care in a research report on Monday, November 10th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $24.00 target price on shares of Tandem Diabetes Care in a research report on Monday, September 29th. Five investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Tandem Diabetes Care presently has an average rating of “Hold” and an average target price of $22.44.

Tandem Diabetes Care Price Performance

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 stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of -7.44 and a beta of 1.68. The stock’s 50 day simple moving average is $17.48 and its 200-day simple moving average is $16.00.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings results on Thursday, November 6th. The medical device company reported ($0.31) EPS for the quarter, hitting 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 company had revenue of $249.25 million for the quarter, compared to analyst estimates of $235.80 million. During the same quarter in the prior year, the business posted ($0.35) EPS. Tandem Diabetes Care’s quarterly revenue was up 2.2% on a year-over-year basis. On average, analysts expect that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current fiscal year.

Institutional Trading of Tandem Diabetes Care

Large investors have recently made changes to their positions in the stock. Amalgamated Bank raised its stake in shares of Tandem Diabetes Care by 3.5% in the 3rd quarter. Amalgamated Bank now owns 19,617 shares of the medical device company’s stock valued at $238,000 after acquiring an additional 657 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Tandem Diabetes Care by 8.8% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,101 shares of the medical device company’s stock worth $319,000 after purchasing an additional 1,384 shares during the period. Police & Firemen s Retirement System of New Jersey grew its holdings in Tandem Diabetes Care by 10.1% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 15,299 shares of the medical device company’s stock valued at $285,000 after purchasing an additional 1,399 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its position in shares of Tandem Diabetes Care by 200.0% in the third quarter. Caitong International Asset Management Co. Ltd now owns 2,205 shares of the medical device company’s stock valued at $27,000 after purchasing an additional 1,470 shares during the period. Finally, State of Wyoming lifted its stake in shares of Tandem Diabetes Care by 49.1% in the first quarter. State of Wyoming now owns 4,467 shares of the medical device company’s stock worth $86,000 after buying an additional 1,471 shares during the last quarter.

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.