Tandem Diabetes Care (NASDAQ:TNDM) Stock Price Up 5.8% - Time to Buy?

Key Points

• Tandem Diabetes Care's stock price rose by 5.8% on Monday, trading at $16.81 after closing at $15.89, despite a significant drop in trading volume.
• Recent analyst ratings have been mixed, with Stifel Nicolaus lowering their target price to $31, while Citigroup set a target of $14, reflecting growing skepticism among brokerages.
• The company reported a negative EPS of ($0.67) in its latest quarterly earnings, missing estimates, yet its revenue increased by 22.3% year-over-year, totaling $234.42 million.

Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Get Free Report) rose 5.8% during trading on Monday . The company traded as high as $16.82 and last traded at $16.81. Approximately 556,949 shares were traded during mid-day trading, a decline of 64% from the average daily volume of 1,566,152 shares. The stock had previously closed at $15.89.

Wall Street Analysts Forecast Growth

TNDM has been the topic of a number of recent research reports. Mizuho assumed coverage on Tandem Diabetes Care in a research report on Thursday, April 10th. They issued a "neutral" rating and a $20.00 target price on the stock. Canaccord Genuity Group raised their target price on Tandem Diabetes Care from $58.00 to $59.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Wall Street Zen lowered Tandem Diabetes Care from a "hold" rating to a "sell" rating in a research report on Saturday, June 21st. Robert W. Baird lowered their price target 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, Truist Financial assumed coverage on Tandem Diabetes Care in a research note on Monday, June 16th. They issued a "hold" rating and a $24.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Tandem Diabetes Care currently has a consensus rating of "Hold" and a consensus price target of $32.71.

Tandem Diabetes Care Stock Down 0.6%

The firm's 50-day moving average price is $18.50 and its 200 day moving average price is $22.60. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of -5.57 and a beta of 1.48. The company has a debt-to-equity ratio of 1.99, a current ratio of 2.30 and a quick ratio of 1.81.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The medical device company reported ($0.67) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.07). The firm had revenue of $234.42 million for the quarter, compared to analyst estimates of $220.19 million. Tandem Diabetes Care had a negative return on equity of 57.33% and a negative net margin of 18.71%. Tandem Diabetes Care's revenue for the quarter was up 22.3% on a year-over-year basis. During the same period in the prior year, the business earned ($0.65) earnings per share. Sell-side analysts expect that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current year.

Institutional Trading of Tandem Diabetes Care

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Tandem Diabetes Care by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 7,440,005 shares of the medical device company's stock valued at $267,989,000 after acquiring an additional 77,451 shares in the last quarter. Sessa Capital IM L.P. bought a new position in Tandem Diabetes Care in the 1st quarter valued at about $85,574,000. GW&K Investment Management LLC grew its position in Tandem Diabetes Care by 34.9% in the 1st quarter. GW&K Investment Management LLC now owns 2,863,987 shares of the medical device company's stock valued at $54,874,000 after buying an additional 740,499 shares in the last quarter. ArrowMark Colorado Holdings LLC boosted its holdings in Tandem Diabetes Care by 14.1% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 2,723,715 shares of the medical device company's stock worth $98,108,000 after buying an additional 337,026 shares in the last quarter. Finally, Stephens Investment Management Group LLC raised its holdings in Tandem Diabetes Care by 1.8% during the 2nd quarter. Stephens Investment Management Group LLC now owns 1,737,769 shares of the medical device company's stock worth $32,392,000 after buying an additional 30,854 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.