Tandem Diabetes Care (NASDAQ:TNDM) Hits New 12-Month Low – Time to Sell?

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) reached a new 52-week low during trading on Tuesday . The company traded as low as $17.64 and last traded at $18.16, with a volume of 2088624 shares changing hands. The stock had previously closed at $17.96.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Canaccord Genuity Group reiterated a “buy” rating and issued a $63.00 price objective on shares of Tandem Diabetes Care in a report on Wednesday, February 26th. Robert W. Baird dropped their price objective on Tandem Diabetes Care from $37.00 to $33.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Royal Bank of Canada dropped their price objective on Tandem Diabetes Care from $65.00 to $55.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. Sanford C. Bernstein downgraded Tandem Diabetes Care from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $35.00 to $25.00 in a report on Friday, February 28th. Finally, Wells Fargo & Company reiterated an “equal weight” rating and issued a $22.00 price objective (down previously from $38.00) on shares of Tandem Diabetes Care in a report on Monday, March 3rd. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $45.38.

Tandem Diabetes Care Stock Up 4.9 %

The firm has a 50-day moving average of $32.09 and a 200 day moving average of $34.98. 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 stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of -9.73 and a beta of 1.45.

Insider Activity at Tandem Diabetes Care

In related news, COO Jean-Claude Kyrillos purchased 10,538 shares of Tandem Diabetes Care stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average cost of $18.12 per share, with a total value of $190,948.56. Following the completion of the transaction, the chief operating officer now owns 10,538 shares of the company’s stock, valued at approximately $190,948.56. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.20% of the company’s stock.

Institutional Trading of Tandem Diabetes Care

Institutional investors and hedge funds have recently bought and sold shares of the business. Brooklyn Investment Group bought a new stake in Tandem Diabetes Care in the third quarter valued at approximately $28,000. Assetmark Inc. bought a new stake in Tandem Diabetes Care in the third quarter valued at approximately $29,000. AlphaQuest LLC raised its stake in 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 during the period. Jones Financial Companies Lllp raised its stake in Tandem Diabetes Care by 195.8% in the fourth quarter. Jones Financial Companies Lllp now owns 1,130 shares of the medical device company’s stock valued at $41,000 after buying an additional 748 shares during the period. Finally, McIlrath & Eck LLC bought a new stake in Tandem Diabetes Care in the third quarter valued at approximately $52,000.

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.