Tandem Diabetes Care (NASDAQ:TNDM) Shares Gap Up to $35.24

Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Get Free Report) shares gapped up before the market opened on Monday . The stock had previously closed at $35.24, but opened at $37.25. Tandem Diabetes Care shares last traded at $37.68, with a volume of 135,297 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Leerink Partnrs upgraded shares of Tandem Diabetes Care from a "market perform" rating to an "outperform" rating in a report on Thursday. Stifel Nicolaus upped their price target on Tandem Diabetes Care from $37.00 to $40.00 and gave the stock a "buy" rating in a research note on Tuesday, April 23rd. SVB Leerink raised Tandem Diabetes Care from a "market perform" rating to an "outperform" rating and raised their price objective for the company from $34.00 to $45.00 in a research note on Thursday. StockNews.com raised Tandem Diabetes Care from a "sell" rating to a "hold" rating in a research report on Friday, April 19th. Finally, Citigroup increased their price target on Tandem Diabetes Care from $31.00 to $38.00 and gave the company a "neutral" rating in a report on Wednesday, April 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $40.82.

Tandem Diabetes Care Stock Performance

The firm's 50 day moving average price is $30.96 and its 200-day moving average price is $25.47. The firm has a market cap of $2.39 billion, a price-to-earnings ratio of -10.77 and a beta of 1.11. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.83 and a quick ratio of 3.02.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last posted its quarterly earnings results on Wednesday, February 21st. The medical device company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.04). The company had revenue of $196.80 million during the quarter, compared to analyst estimates of $204.86 million. Tandem Diabetes Care had a negative return on equity of 31.48% and a negative net margin of 29.77%. On average, analysts anticipate that Tandem Diabetes Care, Inc. will post -1.62 earnings per share for the current year.

Institutional Trading of Tandem Diabetes Care

Several institutional investors have recently modified their holdings of TNDM. Eminence Capital LP increased its stake in Tandem Diabetes Care by 76.1% in the third quarter. Eminence Capital LP now owns 5,490,017 shares of the medical device company's stock valued at $114,028,000 after acquiring an additional 2,372,458 shares during the period. GW&K Investment Management LLC acquired a new position in shares of Tandem Diabetes Care in the 4th quarter worth approximately $36,288,000. Jennison Associates LLC lifted its position in shares of Tandem Diabetes Care by 252.6% during the 3rd quarter. Jennison Associates LLC now owns 1,122,915 shares of the medical device company's stock worth $23,323,000 after buying an additional 804,488 shares during the period. Chicago Capital LLC boosted its stake in Tandem Diabetes Care by 699.8% in the 3rd quarter. Chicago Capital LLC now owns 904,410 shares of the medical device company's stock valued at $18,785,000 after buying an additional 791,336 shares in the last quarter. Finally, Paradice Investment Management LLC grew its position in Tandem Diabetes Care by 23.9% in the third quarter. Paradice Investment Management LLC now owns 1,520,065 shares of the medical device company's stock valued at $31,572,000 after acquiring an additional 293,250 shares during the period.

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.