Tandem Diabetes Care (NASDAQ:TNDM) Shares Gap Down – Time to Sell?

Tandem Diabetes Care, Inc. (NASDAQ:TNDM)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $28.26, but opened at $25.71. Tandem Diabetes Care shares last traded at $28.5950, with a volume of 1,141,849 shares changing hands.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Royal Bank Of Canada restated an “outperform” rating and issued a $30.00 target price on shares of Tandem Diabetes Care in a report on Wednesday, December 17th. Barclays reaffirmed an “overweight” rating and set a $56.00 target price on shares of Tandem Diabetes Care in a research note on Monday. TD Cowen began coverage on Tandem Diabetes Care in a research note on Tuesday, January 27th. They set a “buy” rating and a $25.00 price target for the company. Truist Financial reiterated a “hold” rating and issued a $27.00 target price (up from $24.00) on shares of Tandem Diabetes Care in a research note on Monday. Finally, Canaccord Genuity Group set a $35.00 price target on shares of Tandem Diabetes Care and gave the stock a “buy” rating in a report on Wednesday, December 17th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $28.00.

Tandem Diabetes Care Trading Up 1.4%

The company’s fifty day moving average is $21.19 and its 200-day moving average is $17.33. The company has a debt-to-equity ratio of 2.00, a current ratio of 2.55 and a quick ratio of 2.02. The company has a market capitalization of $1.80 billion, a PE ratio of -8.63 and a beta of 1.68.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its earnings results on Thursday, February 19th. The medical device company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.04. The company had revenue of $290.38 million for the quarter, compared to analyst estimates of $277.14 million. Tandem Diabetes Care had a negative return on equity of 68.23% and a negative net margin of 20.17%.The firm’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.01 EPS. On average, analysts anticipate that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TNDM. Caitong International Asset Management Co. Ltd grew its stake in shares of Tandem Diabetes Care by 200.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 2,205 shares of the medical device company’s stock worth $27,000 after purchasing an additional 1,470 shares during the period. Smartleaf Asset Management LLC grew its position in shares of Tandem Diabetes Care by 80.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,330 shares of the medical device company’s stock valued at $30,000 after acquiring an additional 593 shares during the period. Quarry LP increased its stake in shares of Tandem Diabetes Care by 2,597.1% in the 3rd quarter. Quarry LP now owns 3,695 shares of the medical device company’s stock valued at $45,000 after purchasing an additional 3,558 shares in the last quarter. CWM LLC raised its holdings in Tandem Diabetes Care by 262.6% in the 2nd quarter. CWM LLC now owns 2,796 shares of the medical device company’s stock worth $52,000 after purchasing an additional 2,025 shares during the period. Finally, CoreCap Advisors LLC grew its holdings in Tandem Diabetes Care by 270.3% in the third quarter. CoreCap Advisors LLC now owns 4,751 shares of the medical device company’s stock valued at $58,000 after purchasing an additional 3,468 shares during the period.

About Tandem Diabetes Care

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.