Tandem Diabetes Care (NASDAQ:TNDM) Reaches New 12-Month Low – Here’s What Happened

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) shares reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $17.40 and last traded at $17.64, with a volume of 179644 shares traded. The stock had previously closed at $18.89.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TNDM. Royal Bank of Canada dropped their target price on shares of Tandem Diabetes Care from $65.00 to $55.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. The Goldman Sachs Group lowered their price objective 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. Sanford C. Bernstein downgraded Tandem Diabetes Care from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $35.00 to $25.00 in a research report on Friday, February 28th. Citigroup lowered shares of Tandem Diabetes Care from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $35.00 to $24.00 in a research report on Tuesday, March 4th. Finally, Robert W. Baird lowered their price target on Tandem Diabetes Care from $37.00 to $33.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. Eight investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $45.38.

Tandem Diabetes Care Trading Down 4.4 %

The firm has a market cap of $1.12 billion, a PE ratio of -8.75 and a beta of 1.45. The company’s 50 day moving average price is $26.36 and its two-hundred day moving average price is $32.24. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 1.29.

Insider Buying and Selling

In other news, COO Jean-Claude Kyrillos purchased 10,538 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were acquired at an average price of $18.12 per share, with a total value of $190,948.56. Following the transaction, the chief operating officer now owns 10,538 shares of the company’s stock, valued at $190,948.56. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tandem Diabetes Care

Several institutional investors have recently bought and sold shares of TNDM. Charles Schwab Investment Management Inc. boosted its holdings in shares of Tandem Diabetes Care by 3.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 586,063 shares of the medical device company’s stock valued at $24,855,000 after buying an additional 18,874 shares in the last quarter. MetLife Investment Management LLC raised its stake in Tandem Diabetes Care by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 37,422 shares of the medical device company’s stock worth $1,587,000 after acquiring an additional 21,086 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Tandem Diabetes Care by 4.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,664 shares of the medical device company’s stock worth $664,000 after purchasing an additional 704 shares during the period. Captrust Financial Advisors boosted its holdings in shares of Tandem Diabetes Care by 19.3% in the 3rd quarter. Captrust Financial Advisors now owns 10,170 shares of the medical device company’s stock valued at $431,000 after acquiring an additional 1,647 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Tandem Diabetes Care in the third quarter valued at $105,000.

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.