Tandem Diabetes Care (NASDAQ:TNDM) Trading 4.8% Higher - Time to Buy?

Key Points

• Tandem Diabetes Care shares rose 4.8% to about $23.31, although trading volume was 96% below the average session volume.
• Analyst sentiment remains mixed: the stock has an overall “Hold” rating and a consensus price target of $28.98, with recent targets ranging from $15.50 to $40.00.
• The company narrowly beat quarterly EPS expectations, reporting a loss of $0.31 per share versus estimates of $0.32, while revenue increased 5.8% year over year to $254.56 million. Tandem remains unprofitable, with a negative net margin of 6.08%.

Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Get Free Report) shares shot up 4.8% during mid-day trading on Tuesday . The company traded as high as $23.24 and last traded at $23.3110. 78,664 shares were traded during trading, a decline of 96% from the average session volume of 2,139,668 shares. The stock had previously closed at $22.25.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on TNDM shares. Mizuho decreased their price objective on shares of Tandem Diabetes Care from $24.00 to $20.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 15th. UBS Group assumed coverage on shares of Tandem Diabetes Care in a research report on Tuesday, July 28th. They set a "neutral" rating and a $18.00 target price for the company. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Tandem Diabetes Care in a research note on Tuesday, June 23rd. They issued a "hold" rating and a $15.50 price target for the company. Weiss Ratings lowered shares of Tandem Diabetes Care from a "sell (d-)" rating to a "sell (e+)" rating in a report on Thursday, June 11th. Finally, Canaccord Genuity Group set a $40.00 price objective on shares of Tandem Diabetes Care in a research report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $28.98.

Tandem Diabetes Care Price Performance

The company has a current ratio of 3.18, a quick ratio of 2.65 and a debt-to-equity ratio of 4.62. The stock has a market capitalization of $1.61 billion, a PE ratio of -24.96 and a beta of 1.53. The business has a fifty day moving average price of $17.47 and a 200-day moving average price of $18.99.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The medical device company reported ($0.31) earnings per share for the quarter, beating analysts' consensus estimates of ($0.32) by $0.01. The company had revenue of $254.56 million for the quarter, compared to analysts' expectations of $254.99 million. Tandem Diabetes Care had a negative return on equity of 45.97% and a negative net margin of 6.08%.Tandem Diabetes Care's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period last year, the firm posted ($0.78) EPS. Research analysts expect that Tandem Diabetes Care, Inc. will post -0.65 EPS for the current fiscal year.

Institutional Investors Weigh In On Tandem Diabetes Care

A number of hedge funds have recently made changes to their positions in the business. State of Alaska Department of Revenue grew its holdings in shares of Tandem Diabetes Care by 1.4% during the 4th quarter. State of Alaska Department of Revenue now owns 38,676 shares of the medical device company's stock valued at $849,000 after purchasing an additional 523 shares during the last quarter. ProShare Advisors LLC boosted its position in Tandem Diabetes Care by 4.6% during the fourth quarter. ProShare Advisors LLC now owns 13,185 shares of the medical device company's stock valued at $290,000 after buying an additional 579 shares during the period. Smartleaf Asset Management LLC grew its stake in shares of Tandem Diabetes Care by 80.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,330 shares of the medical device company's stock valued at $30,000 after buying an additional 593 shares during the last quarter. Natixis Advisors LLC increased its holdings in shares of Tandem Diabetes Care by 1.1% in the fourth quarter. Natixis Advisors LLC now owns 57,021 shares of the medical device company's stock worth $1,253,000 after buying an additional 617 shares during the period. Finally, LPL Financial LLC increased its holdings in shares of Tandem Diabetes Care by 1.8% in the fourth quarter. LPL Financial LLC now owns 39,590 shares of the medical device company's stock worth $870,000 after buying an additional 716 shares during the period.

Tandem Diabetes Care Company Profile

Tandem Diabetes Care, Inc NASDAQ: TNDM, headquartered in San Diego, California, is a medical device company focused on the design, development and commercialization of innovative insulin delivery systems for people with insulin-dependent diabetes. Founded in 2006, the company introduced its first product, the t:slim® Insulin Pump, in 2011 and has since built a portfolio of next-generation pumps featuring touchscreen interfaces, remote software updates and integrated continuous glucose monitoring (CGM) capabilities.

The company's flagship offering, the t:slim X2® Insulin Pump, is engineered to work with leading CGM sensors and features automated insulin delivery algorithms that adjust basal insulin rates based on real-time glucose trends.

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