Tandem Diabetes Care (NASDAQ:TNDM) Stock Price Up 4.5% – Time to Buy?

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) shares rose 4.5% during mid-day trading on Friday . The stock traded as high as $20.10 and last traded at $20.33. Approximately 350,847 shares were traded during trading, a decline of 84% from the average daily volume of 2,146,646 shares. The stock had previously closed at $19.45.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Morgan Stanley lifted their price objective on shares of Tandem Diabetes Care from $23.00 to $25.00 and gave the company an “equal weight” rating in a report on Monday, March 2nd. Stifel Nicolaus raised their price target on shares of Tandem Diabetes Care from $20.00 to $22.00 and gave the company a “hold” rating in a research report on Friday, February 20th. UBS Group restated a “neutral” rating and issued a $22.00 price target (up from $17.00) on shares of Tandem Diabetes Care in a research note on Friday, February 20th. Citigroup reaffirmed a “neutral” rating and set a $17.00 price objective (down from $22.00) on shares of Tandem Diabetes Care in a research report on Thursday, May 28th. Finally, The Goldman Sachs Group set a $21.00 price objective on Tandem Diabetes Care in a research note on Wednesday, May 27th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.84.

Tandem Diabetes Care Trading Up 1.8%

The company’s fifty day moving average is $18.19 and its two-hundred day moving average is $20.34. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of -14.14 and a beta of 1.58. The company has a quick ratio of 3.07, a current ratio of 3.58 and a debt-to-equity ratio of 4.54.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings results on Thursday, May 7th. The medical device company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.16. Tandem Diabetes Care had a negative net margin of 9.20% and a negative return on equity of 53.88%. The company had revenue of $247.22 million during the quarter, compared to the consensus estimate of $240.41 million. During the same quarter in the previous year, the firm earned ($0.66) earnings per share. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. On average, research analysts predict that Tandem Diabetes Care, Inc. will post -0.69 EPS for the current fiscal year.

Hedge Funds Weigh In On Tandem Diabetes Care

A number of institutional investors and hedge funds have recently modified their holdings of TNDM. State of Alaska Department of Revenue grew its position in Tandem Diabetes Care by 1.4% during the fourth quarter. State of Alaska Department of Revenue now owns 38,676 shares of the medical device company’s stock valued at $849,000 after acquiring an additional 523 shares during the period. ProShare Advisors LLC increased its stake in Tandem Diabetes Care by 4.6% during the fourth quarter. ProShare Advisors LLC now owns 13,185 shares of the medical device company’s stock worth $290,000 after acquiring an additional 579 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Tandem Diabetes Care by 80.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,330 shares of the medical device company’s stock worth $30,000 after purchasing an additional 593 shares during the period. Natixis Advisors LLC lifted its stake in shares of Tandem Diabetes Care by 1.1% in the 4th quarter. Natixis Advisors LLC now owns 57,021 shares of the medical device company’s stock valued at $1,253,000 after purchasing an additional 617 shares in the last quarter. Finally, LPL Financial LLC lifted its stake in shares of Tandem Diabetes Care by 1.8% in the 4th quarter. LPL Financial LLC now owns 39,590 shares of the medical device company’s stock valued at $870,000 after purchasing an additional 716 shares in the last quarter.

Tandem Diabetes Care Company Profile

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.