Tandem Diabetes Care (NASDAQ:TNDM) Hits New 1-Year Low - Time to Sell?

Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Get Free Report) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $15.17 and last traded at $16.20, with a volume of 359738 shares trading hands. The stock had previously closed at $16.62.

Analyst Ratings Changes

TNDM has been the topic of several research reports. Citigroup reissued a "sell" rating and set a $14.00 price objective (down from $24.00) on shares of Tandem Diabetes Care in a report on Wednesday. Robert W. Baird cut 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 report on Thursday, May 1st. Mizuho assumed coverage on shares of Tandem Diabetes Care in a report on Thursday, April 10th. They set a "neutral" rating and a $20.00 price objective on the stock. Canaccord Genuity Group raised their target price on shares of Tandem Diabetes Care from $58.00 to $59.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Finally, Wall Street Zen downgraded shares of Tandem Diabetes Care from a "hold" rating to a "sell" rating in a research note on Saturday, June 21st. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $32.71.

Tandem Diabetes Care Stock Up 2.0%

The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of -5.82 and a beta of 1.48. The business's 50-day moving average is $20.48 and its 200-day moving average is $24.78. The company has a quick ratio of 1.81, a current ratio of 2.30 and a debt-to-equity ratio of 1.99.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last released 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). The company had revenue of $234.42 million for the quarter, compared to analysts' expectations of $220.19 million. Tandem Diabetes Care had a negative return on equity of 57.33% and a negative net margin of 18.71%. The firm's revenue for the quarter was up 22.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.65) EPS. As a group, equities analysts predict that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current year.

Institutional Trading of Tandem Diabetes Care

Institutional investors and hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp grew its stake in Tandem Diabetes Care by 1.0% during the 4th quarter. Bank of New York Mellon Corp now owns 436,692 shares of the medical device company's stock valued at $15,730,000 after acquiring an additional 4,130 shares in the last quarter. Jones Financial Companies Lllp grew its stake in Tandem Diabetes Care by 195.8% during the 4th quarter. Jones Financial Companies Lllp now owns 1,130 shares of the medical device company's stock valued at $41,000 after acquiring an additional 748 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Tandem Diabetes Care by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 602,321 shares of the medical device company's stock valued at $21,696,000 after acquiring an additional 16,258 shares in the last quarter. Assetmark Inc. grew its stake in Tandem Diabetes Care by 77.5% during the 4th quarter. Assetmark Inc. now owns 1,225 shares of the medical device company's stock valued at $44,000 after acquiring an additional 535 shares in the last quarter. Finally, Arizona State Retirement System grew its stake in Tandem Diabetes Care by 1.9% during the 4th quarter. Arizona State Retirement System now owns 18,961 shares of the medical device company's stock valued at $683,000 after acquiring an additional 362 shares in 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.