Short Interest in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Expands By 64.9%

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) was the recipient of a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 8,080,000 shares, a growth of 64.9% from the February 29th total of 4,900,000 shares. Based on an average trading volume of 1,800,000 shares, the short-interest ratio is currently 4.5 days.

Institutional Investors Weigh In On Tandem Diabetes Care

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Eminence Capital LP increased 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 worth $114,028,000 after buying an additional 2,372,458 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Tandem Diabetes Care by 4.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 367,011 shares of the medical device company’s stock worth $7,623,000 after purchasing an additional 16,586 shares during the last quarter. Paradice Investment Management LLC increased its position in shares of Tandem Diabetes Care by 23.9% in the 3rd quarter. Paradice Investment Management LLC now owns 1,520,065 shares of the medical device company’s stock worth $31,572,000 after purchasing an additional 293,250 shares during the last quarter. Banque Pictet & Cie SA bought a new stake in shares of Tandem Diabetes Care in the 3rd quarter worth about $2,295,000. Finally, Jennison Associates LLC increased its position 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 last quarter.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on TNDM shares. StockNews.com raised shares of Tandem Diabetes Care from a “sell” rating to a “hold” rating in a research note on Thursday, March 21st. Citigroup boosted their target price on Tandem Diabetes Care from $25.00 to $31.00 and gave the company a “neutral” rating in a research report on Friday, March 15th. Finally, Stifel Nicolaus raised Tandem Diabetes Care from a “hold” rating to a “buy” rating and boosted their target price for the company from $24.00 to $37.00 in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Tandem Diabetes Care currently has a consensus rating of “Hold” and a consensus target price of $36.36.

Tandem Diabetes Care Trading Up 0.3 %

Shares of TNDM traded up $0.11 during mid-day trading on Friday, reaching $35.41. The company had a trading volume of 1,809,821 shares, compared to its average volume of 2,391,823. The firm has a fifty day simple moving average of $26.97 and a 200-day simple moving average of $23.67. Tandem Diabetes Care has a fifty-two week low of $13.82 and a fifty-two week high of $43.51. The company has a current ratio of 3.83, a quick ratio of 3.02 and a debt-to-equity ratio of 0.91. The stock has a market cap of $2.32 billion, a price-to-earnings ratio of -10.29 and a beta of 1.08.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its earnings results on Wednesday, February 21st. The medical device company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.04). Tandem Diabetes Care had a negative net margin of 29.77% and a negative return on equity of 31.48%. The business had revenue of $196.80 million during the quarter, compared to analysts’ expectations of $204.86 million. On average, sell-side analysts anticipate that Tandem Diabetes Care will post -1.62 EPS for the current fiscal year.

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.