Tandem Diabetes Care (NASDAQ:TNDM) Shares Up 7.1% - Still a Buy?

Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Get Free Report) shares were up 7.1% during trading on Tuesday . The company traded as high as $21.55 and last traded at $21.67. Approximately 563,255 shares were traded during trading, a decline of 62% from the average daily volume of 1,493,172 shares. The stock had previously closed at $20.23.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Wells Fargo & Company dropped their price target on shares of Tandem Diabetes Care from $22.00 to $20.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. Citigroup raised their price objective on shares of Tandem Diabetes Care from $20.00 to $24.00 and gave the company a "neutral" rating in a research report on Thursday, May 22nd. Canaccord Genuity Group lifted their target price on shares of Tandem Diabetes Care from $58.00 to $59.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Royal Bank of Canada decreased their target price on shares of Tandem Diabetes Care from $65.00 to $55.00 and set an "outperform" rating for the company in a research report on Thursday, February 27th. Finally, Barclays cut their price target on shares of Tandem Diabetes Care from $60.00 to $53.00 and set an "overweight" rating on the stock in a report on Friday, February 28th. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $34.15.

Tandem Diabetes Care Price Performance

The company has a market capitalization of $1.44 billion, a P/E ratio of -11.17 and a beta of 1.52. The stock's fifty day simple moving average is $19.68 and its 200-day simple moving average is $26.70. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.90 and a quick ratio of 2.32.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The medical device company reported ($0.67) earnings per share for the quarter, missing analysts' consensus estimates of ($0.60) by ($0.07). Tandem Diabetes Care had a negative net margin of 14.84% and a negative return on equity of 44.19%. The company had revenue of $234.42 million during the quarter, compared to the consensus estimate of $220.19 million. During the same period last year, the company earned ($0.65) earnings per share. Tandem Diabetes Care's revenue for the quarter was up 22.3% on a year-over-year basis. On average, equities analysts forecast that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current fiscal year.

Institutional Trading of Tandem Diabetes Care

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Tandem Diabetes Care by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 7,440,005 shares of the medical device company's stock worth $267,989,000 after purchasing an additional 77,451 shares during the period. Sessa Capital IM L.P. bought a new position in shares of Tandem Diabetes Care during the 1st quarter worth about $85,574,000. GW&K Investment Management LLC boosted its position in shares of Tandem Diabetes Care by 34.9% during 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 acquiring an additional 740,499 shares in the last quarter. ArrowMark Colorado Holdings LLC increased its stake in Tandem Diabetes Care by 14.1% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 2,723,715 shares of the medical device company's stock valued at $98,108,000 after acquiring an additional 337,026 shares during the period. Finally, Stephens Investment Management Group LLC raised its position in Tandem Diabetes Care by 9.7% in the first quarter. Stephens Investment Management Group LLC now owns 1,706,915 shares of the medical device company's stock worth $32,704,000 after purchasing an additional 151,106 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.