Tandem Diabetes Care (NASDAQ:TNDM) Shares Down 6.1%

Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Get Free Report)'s share price was down 6.1% during trading on Monday . The stock traded as low as $33.01 and last traded at $33.25. Approximately 251,865 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 1,860,080 shares. The stock had previously closed at $35.41.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on TNDM shares. Stifel Nicolaus raised shares of Tandem Diabetes Care from a "hold" rating to a "buy" rating and increased their price objective for the company from $24.00 to $37.00 in a research report on Tuesday, March 26th. StockNews.com raised shares of Tandem Diabetes Care from a "sell" rating to a "hold" rating in a research report on Thursday, March 21st. Finally, Citigroup increased their price objective on shares of Tandem Diabetes Care from $25.00 to $31.00 and gave the company a "neutral" rating in a research report on Friday, March 15th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Tandem Diabetes Care currently has an average rating of "Hold" and an average price target of $36.36.

Tandem Diabetes Care Stock Performance

The firm's fifty day moving average price is $27.16 and its two-hundred day moving average price is $23.75. The stock has a market capitalization of $2.22 billion, a PE ratio of -9.84 and a beta of 1.11. The company has a current ratio of 3.83, a quick ratio of 3.02 and a debt-to-equity ratio of 0.91.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last released its quarterly 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). Tandem Diabetes Care had a negative net margin of 29.77% and a negative return on equity of 31.48%. The company had revenue of $196.80 million during the quarter, compared to analyst estimates of $204.86 million. As a group, equities research analysts forecast that Tandem Diabetes Care, Inc. will post -1.62 EPS for the current 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. PNC Financial Services Group Inc. grew its stake in Tandem Diabetes Care by 2.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,246 shares of the medical device company's stock valued at $726,000 after acquiring an additional 164 shares during the period. Canada Pension Plan Investment Board boosted its stake in Tandem Diabetes Care by 3.4% during the 1st quarter. Canada Pension Plan Investment Board now owns 5,616 shares of the medical device company's stock worth $654,000 after purchasing an additional 184 shares during the last quarter. State of Wyoming boosted its stake in Tandem Diabetes Care by 45.8% during the 4th quarter. State of Wyoming now owns 821 shares of the medical device company's stock worth $37,000 after purchasing an additional 258 shares during the last quarter. Stephens Inc. AR boosted its stake in Tandem Diabetes Care by 17.6% during the 1st quarter. Stephens Inc. AR now owns 2,120 shares of the medical device company's stock worth $86,000 after purchasing an additional 317 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in Tandem Diabetes Care by 0.3% during the 2nd quarter. Legal & General Group Plc now owns 97,817 shares of the medical device company's stock worth $5,790,000 after purchasing an additional 318 shares during the last quarter.

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.