Tandem Diabetes Care (NASDAQ:TNDM) Trading Down 4.2% - Here's Why

Key Points

• Tandem Diabetes Care's shares fell 4.2% to $14.75, significantly below the average trading volume, which declined by 93% to 114,856 shares.
• Analysts have given the stock varying ratings, with two 'sell' ratings, seven 'hold' ratings, and six 'buy' ratings, and an average target price of $32.71.
• Large investors have increased their stakes in Tandem Diabetes Care, with Cerity Partners LLC alone lifting its stake by 32.2%.

Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Get Free Report)'s stock price was down 4.2% on Monday . The company traded as low as $14.84 and last traded at $14.75. Approximately 114,856 shares changed hands during trading, a decline of 93% from the average daily volume of 1,569,218 shares. The stock had previously closed at $15.40.

Analyst Upgrades and Downgrades

TNDM has been the topic of several recent research reports. Mizuho initiated coverage on shares of Tandem Diabetes Care in a research report on Thursday, April 10th. They issued a "neutral" rating and a $20.00 price objective on the stock. Stifel Nicolaus decreased their price objective on shares of Tandem Diabetes Care from $60.00 to $31.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Wall Street Zen lowered shares of Tandem Diabetes Care from a "hold" rating to a "sell" rating in a research report on Saturday, June 21st. Wells Fargo & Company decreased their price objective on shares of Tandem Diabetes Care from $22.00 to $20.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 1st. Finally, Robert W. Baird decreased 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, seven have assigned a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Tandem Diabetes Care has a consensus rating of "Hold" and a consensus target price of $32.71.

Tandem Diabetes Care Stock Performance

The company has a market capitalization of $955.05 million, a PE ratio of -5.16 and a beta of 1.46. The company has a debt-to-equity ratio of 1.99, a quick ratio of 1.81 and a current ratio of 2.30. The stock's fifty day simple moving average is $18.06 and its 200-day simple moving average is $21.93.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Bank of Montreal Can increased its stake in shares of Tandem Diabetes Care by 4.3% during the 4th quarter. Bank of Montreal Can now owns 10,004 shares of the medical device company's stock valued at $360,000 after acquiring an additional 409 shares during the last quarter. Summit Investment Advisors Inc. increased its stake in shares of Tandem Diabetes Care by 8.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 6,870 shares of the medical device company's stock valued at $247,000 after acquiring an additional 525 shares during the last quarter. Assetmark Inc. increased its stake in shares of Tandem Diabetes Care by 42.9% during the 1st quarter. Assetmark Inc. now owns 1,750 shares of the medical device company's stock valued at $34,000 after acquiring an additional 525 shares during the last quarter. Stifel Financial Corp increased its stake in shares of Tandem Diabetes Care by 2.1% during the 4th quarter. Stifel Financial Corp now owns 34,773 shares of the medical device company's stock valued at $1,253,000 after acquiring an additional 701 shares during the last quarter. Finally, Cetera Investment Advisers increased its stake in shares of Tandem Diabetes Care by 7.4% during the 4th quarter. Cetera Investment Advisers now owns 14,185 shares of the medical device company's stock valued at $511,000 after acquiring an additional 981 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.