Tandem Diabetes Care (NASDAQ:TNDM) Shares Down 2.9%

Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Get Free Report) shares fell 2.9% during mid-day trading on Monday . The stock traded as low as $32.52 and last traded at $32.52. 63,900 shares were traded during trading, a decline of 96% from the average session volume of 1,758,071 shares. The stock had previously closed at $33.50.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on TNDM. Citigroup upped their price target on Tandem Diabetes Care from $31.00 to $38.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 3rd. StockNews.com downgraded Tandem Diabetes Care from a "hold" rating to a "sell" rating in a research report on Thursday. Finally, Stifel Nicolaus raised Tandem Diabetes Care from a "hold" rating to a "buy" rating and increased their target price for the stock from $24.00 to $37.00 in a report on Tuesday, March 26th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $37.00.

Tandem Diabetes Care Trading Down 4.9 %

The business has a 50-day moving average of $29.30 and a 200-day moving average of $24.62. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of -9.26 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 released its quarterly earnings data 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). Tandem Diabetes Care had a negative net margin of 29.77% and a negative return on equity of 31.48%. The business had revenue of $196.80 million during the quarter, compared to the consensus estimate of $204.86 million. Research analysts anticipate 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 large investors have recently added to or reduced their stakes in TNDM. JPMorgan Chase & Co. boosted its holdings in shares of Tandem Diabetes Care by 40.5% in the 1st quarter. JPMorgan Chase & Co. now owns 133,397 shares of the medical device company's stock valued at $15,512,000 after purchasing an additional 38,460 shares in the last quarter. PNC Financial Services Group Inc. raised its position in Tandem Diabetes Care by 2.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,246 shares of the medical device company's stock worth $726,000 after purchasing an additional 164 shares during the last quarter. Great West Life Assurance Co. Can raised its position in Tandem Diabetes Care by 7.5% during the 1st quarter. Great West Life Assurance Co. Can now owns 34,482 shares of the medical device company's stock worth $4,122,000 after purchasing an additional 2,402 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Tandem Diabetes Care by 68.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 185,408 shares of the medical device company's stock worth $21,561,000 after purchasing an additional 75,358 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its position 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.

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.