Tandem Diabetes Care (NASDAQ:TNDM) Reaches New 12-Month Low - Here's Why

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

Analyst Upgrades and Downgrades

A number of brokerages recently commented on TNDM. Piper Sandler reduced their price objective on shares of Tandem Diabetes Care from $36.00 to $30.00 and set an "overweight" rating for the company in a research note on Thursday, May 1st. Robert W. Baird cut their price target 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. Citigroup reaffirmed a "sell" rating and issued a $14.00 price target (down from $24.00) on shares of Tandem Diabetes Care in a report on Wednesday. Canaccord Genuity Group lifted their price target on shares of Tandem Diabetes Care from $58.00 to $59.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Finally, Mizuho started 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. Two equities research 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. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $32.71.

Tandem Diabetes Care Stock Performance

The company has a debt-to-equity ratio of 1.99, a current ratio of 2.30 and a quick ratio of 1.81. The company has a market capitalization of $1.04 billion, a PE ratio of -5.61 and a beta of 1.48. The firm's fifty day simple moving average is $20.29 and its 200 day simple moving average is $24.49.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The medical device company reported ($0.67) EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts' expectations of $220.19 million. During the same period in the previous year, the company posted ($0.65) earnings per share. Tandem Diabetes Care's revenue for the quarter was up 22.3% compared to the same quarter last year. On average, research analysts predict that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current year.

Institutional Investors Weigh In On Tandem Diabetes Care

Several hedge funds have recently added to or reduced their stakes in the business. AlphaQuest LLC raised its position 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 acquiring an additional 541 shares during the period. Jones Financial Companies Lllp raised its position in shares of Tandem Diabetes Care by 195.8% in the fourth quarter. Jones Financial Companies Lllp now owns 1,130 shares of the medical device company's stock worth $41,000 after acquiring an additional 748 shares during the period. Assetmark Inc. raised its position in shares of Tandem Diabetes Care by 77.5% in the fourth quarter. Assetmark Inc. now owns 1,225 shares of the medical device company's stock worth $44,000 after acquiring an additional 535 shares during the period. NBC Securities Inc. acquired a new position in shares of Tandem Diabetes Care in the first quarter worth about $37,000. Finally, State of Wyoming raised its position in shares of Tandem Diabetes Care by 95.9% in the fourth quarter. State of Wyoming now owns 2,996 shares of the medical device company's stock worth $108,000 after acquiring an additional 1,467 shares during the period.

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.