Tandem Diabetes Care (NASDAQ:TNDM) Shares Down 4.4% - What's Next?

Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Get Free Report)'s stock price was down 4.4% during mid-day trading on Thursday . The stock traded as low as $20.47 and last traded at $20.60. Approximately 281,493 shares changed hands during trading, a decline of 81% from the average daily volume of 1,495,096 shares. The stock had previously closed at $21.55.

Analyst Ratings Changes

A number of research firms have recently commented on TNDM. Morgan Stanley cut shares of Tandem Diabetes Care from an "overweight" rating to an "equal weight" rating and cut their price target for the stock from $45.00 to $22.00 in a report on Wednesday, March 5th. Stifel Nicolaus cut 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 report on Thursday, May 1st. Robert W. Baird lowered their target price on Tandem Diabetes Care from $33.00 to $24.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Mizuho initiated coverage on Tandem Diabetes Care in a report on Thursday, April 10th. They issued a "neutral" rating and a $20.00 price target on the stock. Finally, Wells Fargo & Company cut their target price on 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. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Tandem Diabetes Care currently has a consensus rating of "Hold" and a consensus price target of $34.15.

Tandem Diabetes Care Trading Down 0.7%

The stock has a market cap of $1.38 billion, a PE ratio of -10.75 and a beta of 1.52. The company has a debt-to-equity ratio of 1.29, a quick ratio of 2.32 and a current ratio of 2.90. The company has a 50 day moving average of $19.85 and a two-hundred day moving average of $26.59.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last announced its earnings results on Wednesday, April 30th. The medical device company reported ($0.67) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.60) by ($0.07). The business had revenue of $234.42 million for the quarter, compared to analysts' expectations of $220.19 million. Tandem Diabetes Care had a negative net margin of 14.84% and a negative return on equity of 44.19%. The company's quarterly revenue was up 22.3% on a year-over-year basis. During the same quarter last year, the business earned ($0.65) EPS. Sell-side analysts anticipate 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 TNDM. AlphaQuest LLC lifted 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 in the last quarter. Jones Financial Companies Lllp raised 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 valued at $41,000 after acquiring an additional 748 shares during the last quarter. Assetmark Inc. lifted 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 in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Tandem Diabetes Care by 163.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,775 shares of the medical device company's stock valued at $65,000 after acquiring an additional 1,101 shares in the last quarter. Finally, NBC Securities Inc. acquired a new stake in shares of Tandem Diabetes Care in the first quarter worth approximately $37,000.

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.