Tandem Diabetes Care (NASDAQ:TNDM) Sets New 52-Week Low - Should You Sell?

Key Points

• Tandem Diabetes Care shares hit a new 52-week low at $14.24, with analysts giving mixed ratings and price targets ranging from $14.00 to $32.71.
• Several institutional investors have increased their stakes in Tandem Diabetes Care, with one firm, CWM LLC, boosting its holdings by 262.6%.
• As of the latest report, the company has a market cap of $934.21 million and an average rating of "Hold."

Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $14.24 and last traded at $14.34, with a volume of 715085 shares traded. The stock had previously closed at $15.15.

Analysts Set New Price Targets

A number of research firms have recently commented on TNDM. Wells Fargo & Company cut their price objective on Tandem Diabetes Care from $22.00 to $20.00 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. Truist Financial began coverage on Tandem Diabetes Care in a research note on Monday, June 16th. They set a "hold" rating and a $24.00 price objective for the company. Citigroup restated a "sell" rating and set a $14.00 price objective (down previously from $24.00) on shares of Tandem Diabetes Care in a research note on Wednesday, July 9th. Robert W. Baird decreased their target price on Tandem Diabetes Care from $33.00 to $24.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Finally, Stifel Nicolaus reduced their price objective on Tandem Diabetes Care from $60.00 to $31.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Tandem Diabetes Care currently has an average rating of "Hold" and an average price target of $32.71.

Tandem Diabetes Care Stock Performance

The stock has a market cap of $934.21 million, a price-to-earnings ratio of -5.08 and a beta of 1.46. The firm has a fifty day simple moving average of $18.06 and a 200 day simple moving average of $21.93. The company has a current ratio of 2.30, a quick ratio of 1.81 and a debt-to-equity ratio of 1.99.

Institutional Investors Weigh In On Tandem Diabetes Care

Several large investors have recently modified their holdings of TNDM. Assetmark Inc. grew its position in Tandem Diabetes Care by 42.9% during the 1st quarter. Assetmark Inc. now owns 1,750 shares of the medical device company's stock worth $34,000 after acquiring an additional 525 shares during the last quarter. NBC Securities Inc. acquired a new stake in Tandem Diabetes Care during the 1st quarter worth $37,000. CWM LLC lifted its holdings in Tandem Diabetes Care by 262.6% during the second quarter. CWM LLC now owns 2,796 shares of the medical device company's stock worth $52,000 after acquiring an additional 2,025 shares in the last quarter. Brooklyn Investment Group lifted its holdings in Tandem Diabetes Care by 417.8% during the first quarter. Brooklyn Investment Group now owns 3,397 shares of the medical device company's stock worth $65,000 after acquiring an additional 2,741 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Tandem Diabetes Care by 186.9% in the second quarter. Nisa Investment Advisors LLC now owns 4,171 shares of the medical device company's stock valued at $78,000 after purchasing an additional 2,717 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.

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