Tandem Diabetes Care (NASDAQ:TNDM) Hits New 52-Week High at $52.51

Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Get Free Report)'s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $52.51 and last traded at $52.15, with a volume of 889386 shares changing hands. The stock had previously closed at $47.23.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on TNDM. Citigroup lifted their price objective on Tandem Diabetes Care from $31.00 to $38.00 and gave the stock a "neutral" rating in a report on Wednesday, April 3rd. Leerink Partnrs raised Tandem Diabetes Care from a "market perform" rating to an "outperform" rating in a research note on Thursday, April 25th. Robert W. Baird increased their price objective on Tandem Diabetes Care from $28.00 to $36.00 and gave the company a "neutral" rating in a research note on Friday, May 3rd. Wells Fargo & Company raised shares of Tandem Diabetes Care from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $21.00 to $45.00 in a research note on Monday, April 29th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $50.00 target price (up from $35.00) on shares of Tandem Diabetes Care in a research report on Friday, May 3rd. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $43.80.

Tandem Diabetes Care Price Performance

The company has a quick ratio of 3.01, a current ratio of 3.81 and a debt-to-equity ratio of 1.43. The firm has a market cap of $3.19 billion, a price-to-earnings ratio of -22.73 and a beta of 1.10. The company's 50-day moving average price is $36.33 and its 200-day moving average price is $28.50.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last released its earnings results on Wednesday, February 21st. The medical device company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.04). The company had revenue of $196.80 million during the quarter, compared to analysts' expectations of $204.86 million. Tandem Diabetes Care had a negative net margin of 18.37% and a negative return on equity of 34.38%. On average, equities research analysts forecast that Tandem Diabetes Care, Inc. will post -1.7 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. RiverPark Advisors LLC acquired a new stake in Tandem Diabetes Care during the 4th quarter worth $27,000. Headlands Technologies LLC acquired a new stake in shares of Tandem Diabetes Care during the first quarter worth about $35,000. MCF Advisors LLC increased its position in shares of Tandem Diabetes Care by 79.3% during the first quarter. MCF Advisors LLC now owns 1,006 shares of the medical device company's stock worth $36,000 after purchasing an additional 445 shares in the last quarter. Signaturefd LLC boosted its position in shares of Tandem Diabetes Care by 871.8% in the 4th quarter. Signaturefd LLC now owns 1,691 shares of the medical device company's stock valued at $50,000 after purchasing an additional 1,517 shares during the period. Finally, Arcadia Investment Management Corp MI boosted its position in shares of Tandem Diabetes Care by 141.6% in the 1st quarter. Arcadia Investment Management Corp MI now owns 1,851 shares of the medical device company's stock valued at $66,000 after purchasing an additional 1,085 shares during the period.

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.