Tandem Diabetes Care (NASDAQ:TNDM) Stock Price Down 6.2% - What's Next?

Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Get Free Report) shares were down 6.2% on Friday . The company traded as low as $20.07 and last traded at $19.96. Approximately 558,807 shares were traded during mid-day trading, a decline of 62% from the average daily volume of 1,487,655 shares. The stock had previously closed at $21.28.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on TNDM shares. Wells Fargo & Company reduced 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. The Goldman Sachs Group reduced their price target on shares of Tandem Diabetes Care from $42.00 to $24.00 and set a "neutral" rating on the stock in a research note on Monday, March 3rd. Morgan Stanley downgraded shares of Tandem Diabetes Care from an "overweight" rating to an "equal weight" rating and reduced their price target for the company from $45.00 to $22.00 in a research note on Wednesday, March 5th. Robert W. Baird reduced their price target on shares of Tandem Diabetes Care from $33.00 to $24.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Finally, Sanford C. Bernstein downgraded shares of Tandem Diabetes Care from an "outperform" rating to a "market perform" rating and reduced their price target for the company from $35.00 to $25.00 in a research note on Friday, February 28th. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Tandem Diabetes Care presently has an average rating of "Hold" and an average target price of $35.86.

Tandem Diabetes Care Stock Performance

The company has a debt-to-equity ratio of 1.29, a current ratio of 2.90 and a quick ratio of 2.32. The company's 50-day moving average price is $19.44 and its two-hundred day moving average price is $27.10. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of -10.27 and a beta of 1.47.

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

Insider Transactions at Tandem Diabetes Care

In related news, COO Jean-Claude Kyrillos purchased 10,538 shares of Tandem Diabetes Care stock in a transaction on Friday, March 7th. The stock was acquired at an average cost of $18.12 per share, for a total transaction of $190,948.56. Following the completion of the acquisition, the chief operating officer now owns 10,538 shares of the company's stock, valued at $190,948.56. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tandem Diabetes Care

A number of large investors have recently bought and sold shares of the stock. Arizona State Retirement System grew its holdings in Tandem Diabetes Care by 1.9% in the fourth quarter. Arizona State Retirement System now owns 18,961 shares of the medical device company's stock worth $683,000 after purchasing an additional 362 shares during the period. Bank of Montreal Can lifted its stake in shares of Tandem Diabetes Care by 4.3% in the fourth quarter. Bank of Montreal Can now owns 10,004 shares of the medical device company's stock valued at $360,000 after buying an additional 409 shares in the last quarter. Summit Investment Advisors Inc. lifted its stake in shares of Tandem Diabetes Care by 8.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 6,870 shares of the medical device company's stock valued at $247,000 after buying an additional 525 shares in the last quarter. Assetmark Inc. lifted its stake in shares of Tandem Diabetes Care by 42.9% in the first quarter. Assetmark Inc. now owns 1,750 shares of the medical device company's stock valued at $34,000 after buying an additional 525 shares in the last quarter. Finally, AlphaQuest LLC lifted its stake in shares of Tandem Diabetes Care by 138.7% in the fourth 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.

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.