Tandem Diabetes Care (NASDAQ:TNDM) Stock Price Up 7.9%

Tandem Diabetes Care, Inc. (NASDAQ:TNDM)’s stock price shot up 7.9% during mid-day trading on Tuesday . The company traded as high as $34.36 and last traded at $34.24. 229,124 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 1,715,144 shares. The stock had previously closed at $31.73.

Analyst Ratings Changes

TNDM has been the topic of several research reports. Stifel Nicolaus raised shares of Tandem Diabetes Care from a “hold” rating to a “buy” rating and boosted their price target for the company from $24.00 to $37.00 in a research report on Tuesday, March 26th. Citigroup increased their price objective on Tandem Diabetes Care from $31.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, April 3rd. Finally, StockNews.com upgraded shares of Tandem Diabetes Care from a “sell” rating to a “hold” rating in a report on Friday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $37.00.

Tandem Diabetes Care Trading Up 8.3 %

The business has a fifty day moving average price of $30.09 and a two-hundred day moving average price of $25.00. The company has a current ratio of 3.83, a quick ratio of 3.02 and a debt-to-equity ratio of 0.91. The firm has a market capitalization of $2.22 billion, a PE ratio of -9.95 and a beta of 1.11.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings results on Wednesday, February 21st. The medical device company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.04). Tandem Diabetes Care had a negative net margin of 29.77% and a negative return on equity of 31.48%. The company had revenue of $196.80 million during the quarter, compared to analyst estimates of $204.86 million. Analysts expect that Tandem Diabetes Care, Inc. will post -1.62 EPS for the current fiscal year.

Hedge Funds Weigh In On Tandem Diabetes Care

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. RiverPark Advisors LLC bought a new stake in shares of Tandem Diabetes Care during the 4th quarter valued at about $27,000. MCF Advisors LLC lifted its position in Tandem Diabetes Care by 79.3% in the first quarter. MCF Advisors LLC now owns 1,006 shares of the medical device company’s stock worth $36,000 after buying an additional 445 shares during the last quarter. Signaturefd LLC raised its position in Tandem Diabetes Care by 871.8% in the 4th quarter. Signaturefd LLC now owns 1,691 shares of the medical device company’s stock worth $50,000 after purchasing an additional 1,517 shares during the period. Arcadia Investment Management Corp MI grew its position in Tandem Diabetes Care by 141.6% in the 1st quarter. Arcadia Investment Management Corp MI now owns 1,851 shares of the medical device company’s stock valued at $66,000 after acquiring an additional 1,085 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in Tandem Diabetes Care by 51.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 3,226 shares of the medical device company’s stock valued at $67,000 after buying an additional 1,099 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.