Tandem Diabetes Care (NASDAQ:TNDM) Stock Price Up 6.3% – Should You Buy?

Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) were up 6.3% during mid-day trading on Wednesday . The company traded as high as $29.96 and last traded at $29.62. Approximately 354,601 shares changed hands during trading, a decline of 78% from the average daily volume of 1,599,155 shares. The stock had previously closed at $27.87.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on TNDM shares. Wells Fargo & Company increased their target price on Tandem Diabetes Care from $50.00 to $55.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Robert W. Baird lowered their price target on Tandem Diabetes Care from $39.00 to $37.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. UBS Group upgraded Tandem Diabetes Care to a “hold” rating in a report on Friday, August 2nd. Morgan Stanley restated an “equal weight” rating and issued a $45.00 price target on shares of Tandem Diabetes Care in a report on Monday, September 23rd. Finally, The Goldman Sachs Group began coverage on Tandem Diabetes Care in a report on Friday, October 4th. They set a “neutral” rating and a $46.00 target price on the stock. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $54.25.

Tandem Diabetes Care Price Performance

The stock’s 50-day moving average price is $36.93 and its 200 day moving average price is $41.50. The firm has a market cap of $1.98 billion, a price-to-earnings ratio of -15.27 and a beta of 1.36. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 1.29.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its earnings results on Wednesday, November 6th. The medical device company reported ($0.35) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.08. The business had revenue of $243.97 million for the quarter, compared to analysts’ expectations of $224.14 million. Tandem Diabetes Care had a negative net margin of 14.84% and a negative return on equity of 44.19%. The firm’s revenue for the quarter was up 31.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.38) earnings per share. Equities research analysts predict that Tandem Diabetes Care, Inc. will post -1.73 earnings per share for the current year.

Institutional Trading of Tandem Diabetes Care

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Tandem Diabetes Care during the first quarter worth about $540,000. Vanguard Group Inc. grew its stake in Tandem Diabetes Care by 0.4% during the first quarter. Vanguard Group Inc. now owns 7,052,570 shares of the medical device company’s stock worth $249,732,000 after buying an additional 30,664 shares during the last quarter. Oppenheimer & Co. Inc. grew its stake in Tandem Diabetes Care by 368.5% during the third quarter. Oppenheimer & Co. Inc. now owns 26,125 shares of the medical device company’s stock worth $1,108,000 after buying an additional 20,549 shares during the last quarter. abrdn plc bought a new stake in Tandem Diabetes Care during the third quarter worth about $6,126,000. Finally, The Manufacturers Life Insurance Company grew its stake in Tandem Diabetes Care by 310.2% during the second quarter. The Manufacturers Life Insurance Company now owns 35,980 shares of the medical device company’s stock worth $1,450,000 after buying an additional 27,208 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.