Tandem Diabetes Care (NASDAQ:TNDM) Trading Up 6.5% – Should You Buy?

Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) shot up 6.5% on Monday . The company traded as high as $16.28 and last traded at $16.4040. Approximately 322,708 shares were traded during mid-day trading, a decline of 85% from the average session volume of 2,145,208 shares. The stock had previously closed at $15.41.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on TNDM. Zacks Research lowered Tandem Diabetes Care from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 10th. Piper Sandler raised shares of Tandem Diabetes Care from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $21.00 to $33.00 in a report on Tuesday, March 17th. The Goldman Sachs Group set a $21.00 price objective on shares of Tandem Diabetes Care in a research note on Wednesday, May 27th. Truist Financial reissued a “buy” rating and set a $31.00 target price (down from $35.00) on shares of Tandem Diabetes Care in a report on Monday, May 11th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Tandem Diabetes Care in a research report on Tuesday, June 23rd. They set a “hold” rating and a $15.50 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Tandem Diabetes Care has an average rating of “Hold” and an average target price of $29.12.

Tandem Diabetes Care Trading Up 4.7%

The company has a debt-to-equity ratio of 4.54, a quick ratio of 3.07 and a current ratio of 3.58. The company has a 50 day moving average of $16.03 and a two-hundred day moving average of $19.43. The stock has a market cap of $1.11 billion, a PE ratio of -11.52 and a beta of 1.58.

Tandem Diabetes Care (NASDAQ:TNDM) last released its quarterly earnings results on Thursday, May 7th. The medical device company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.16. The company had revenue of $247.22 million during the quarter, compared to analysts’ expectations of $240.41 million. Tandem Diabetes Care had a negative return on equity of 53.88% and a negative net margin of 9.20%.Tandem Diabetes Care’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.66) EPS. Sell-side analysts anticipate that Tandem Diabetes Care, Inc. will post -0.72 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tandem Diabetes Care

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Tandem Diabetes Care by 3.9% in the 4th quarter. Vanguard Group Inc. now owns 7,341,356 shares of the medical device company’s stock worth $161,363,000 after acquiring an additional 278,042 shares in the last quarter. ArrowMark Colorado Holdings LLC grew its position in shares of Tandem Diabetes Care by 36.7% in the third quarter. ArrowMark Colorado Holdings LLC now owns 3,691,198 shares of the medical device company’s stock valued at $44,811,000 after purchasing an additional 991,649 shares during the period. Jennison Associates LLC increased its stake in shares of Tandem Diabetes Care by 42.3% during the fourth quarter. Jennison Associates LLC now owns 2,021,376 shares of the medical device company’s stock worth $44,430,000 after purchasing an additional 601,260 shares in the last quarter. Freestone Grove Partners LP acquired a new position in shares of Tandem Diabetes Care during the 3rd quarter worth about $22,706,000. Finally, Goldman Sachs Group Inc. lifted its stake in Tandem Diabetes Care by 17.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,683,400 shares of the medical device company’s stock valued at $37,001,000 after buying an additional 252,028 shares in the last quarter.

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.