Tandem Diabetes Care (NASDAQ:TNDM) Hits New 52-Week Low - What's Next?

Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Get Free Report) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $14.92 and last traded at $15.17, with a volume of 409413 shares. The stock had previously closed at $15.75.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TNDM. Canaccord Genuity Group upped their target price on shares of Tandem Diabetes Care from $58.00 to $59.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Citigroup reiterated a "sell" rating and issued a $14.00 target price (down previously from $24.00) on shares of Tandem Diabetes Care in a research note on Wednesday, July 9th. Mizuho began coverage on shares of Tandem Diabetes Care in a research note on Thursday, April 10th. They issued a "neutral" rating and a $20.00 target price on the stock. Wells Fargo & Company dropped their target price on shares of Tandem Diabetes Care from $22.00 to $20.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. Finally, Robert W. Baird lowered their price objective on shares of Tandem Diabetes Care from $33.00 to $24.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Tandem Diabetes Care currently has an average rating of "Hold" and an average target price of $32.71.

Tandem Diabetes Care Trading Down 3.8%

The firm has a market capitalization of $983.83 million, a PE ratio of -5.31 and a beta of 1.48. The company has a quick ratio of 1.81, a current ratio of 2.30 and a debt-to-equity ratio of 1.99. The stock's fifty day simple moving average is $19.61 and its 200 day simple moving average is $23.75.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last announced its earnings results on Wednesday, April 30th. The medical device company reported ($0.67) EPS for the quarter, missing analysts' consensus estimates of ($0.60) by ($0.07). Tandem Diabetes Care had a negative net margin of 18.71% and a negative return on equity of 57.33%. The business had revenue of $234.42 million for the quarter, compared to analysts' expectations of $220.19 million. During the same period in the prior year, the company posted ($0.65) earnings per share. The firm's quarterly revenue was up 22.3% on a year-over-year basis. On average, sell-side analysts predict that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current year.

Institutional Trading of Tandem Diabetes Care

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. purchased a new stake in shares of Tandem Diabetes Care in the fourth quarter worth $5,893,000. AlphaQuest LLC increased its stake in shares of Tandem Diabetes Care by 138.7% in the fourth quarter. AlphaQuest LLC now owns 931 shares of the medical device company's stock worth $34,000 after purchasing an additional 541 shares in the last quarter. HighTower Advisors LLC purchased a new stake in shares of Tandem Diabetes Care in the fourth quarter worth $343,000. Swiss National Bank increased its stake in shares of Tandem Diabetes Care by 2.0% in the fourth quarter. Swiss National Bank now owns 128,700 shares of the medical device company's stock worth $4,636,000 after purchasing an additional 2,500 shares in the last quarter. Finally, Natixis Advisors LLC increased its stake in shares of Tandem Diabetes Care by 3.1% in the fourth quarter. Natixis Advisors LLC now owns 65,678 shares of the medical device company's stock worth $2,366,000 after purchasing an additional 1,972 shares in 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.