Tandem Diabetes Care (NASDAQ:TNDM) Stock Price Down 4.1% - Here's What Happened

Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Get Free Report) dropped 4.1% during mid-day trading on Monday . The stock traded as low as $16.36 and last traded at $16.37. Approximately 92,740 shares were traded during trading, a decline of 94% from the average daily volume of 1,494,989 shares. The stock had previously closed at $17.06.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TNDM. Canaccord Genuity Group reiterated a "buy" rating and set a $63.00 target price on shares of Tandem Diabetes Care in a research report on Wednesday, February 26th. Citigroup cut Tandem Diabetes Care from a "buy" rating to a "neutral" rating and lowered their target price for the company from $35.00 to $24.00 in a research note on Tuesday, March 4th. Robert W. Baird decreased their price target on Tandem Diabetes Care from $37.00 to $33.00 and set a "neutral" rating on the stock in a report on Thursday, February 27th. The Goldman Sachs Group dropped their price target on shares of Tandem Diabetes Care from $42.00 to $24.00 and set a "neutral" rating for the company in a research note on Monday, March 3rd. Finally, Sanford C. Bernstein cut shares of Tandem Diabetes Care from an "outperform" rating to a "market perform" rating and dropped their target price for the company from $35.00 to $25.00 in a research report on Friday, February 28th. Nine analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $43.88.

Tandem Diabetes Care Trading Down 2.3 %

The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 1.29. The business has a 50 day moving average price of $21.77 and a 200-day moving average price of $30.12. The company has a market cap of $1.12 billion, a P/E ratio of -8.74 and a beta of 1.52.

Insider Transactions at Tandem Diabetes Care

In other Tandem Diabetes Care news, COO Jean-Claude Kyrillos purchased 10,538 shares of the company's stock in a transaction that occurred on Friday, March 7th. The shares were acquired at an average price of $18.12 per share, for a total transaction of $190,948.56. Following the purchase, the chief operating officer now owns 10,538 shares in the company, valued at approximately $190,948.56. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 2.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tandem Diabetes Care

Several institutional investors and hedge funds have recently modified their holdings of the stock. AlphaQuest LLC grew its stake in Tandem Diabetes Care by 138.7% in the 4th quarter. AlphaQuest LLC now owns 931 shares of the medical device company's stock valued at $34,000 after buying an additional 541 shares during the last quarter. NBC Securities Inc. bought a new position in Tandem Diabetes Care during the 1st quarter worth $37,000. Jones Financial Companies Lllp lifted its holdings in shares of Tandem Diabetes Care by 195.8% during the fourth quarter. Jones Financial Companies Lllp now owns 1,130 shares of the medical device company's stock worth $41,000 after buying an additional 748 shares in the last quarter. Assetmark Inc. boosted 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 valued at $44,000 after acquiring an additional 535 shares during the period. Finally, McIlrath & Eck LLC acquired a new position in shares of Tandem Diabetes Care in the third quarter valued at about $52,000.

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.