Tandem Diabetes Care (NASDAQ:TNDM) Trading Down 6.2% - Time to Sell?
Tandem Diabetes Care (NASDAQ:TNDM) shares fell 6.2% to $19.96, with trading volume down 62% from average levels. Analysts have adjusted price targets, with Piper Sandler lowering theirs to $30.00 and Canaccord Genuity raising it to $59.00. The company reported a quarterly loss of $0.67 EPS, missing estimates, but revenue increased by 22.3% year-over-year. Insider buying was noted, and institutional investors have been adjusting their stakes in the company. The stock has a consensus rating of "Moderate Buy" with a target price of $37.47.
Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Get Free Report) was down 6.2% during trading on Friday . The company traded as low as $20.07 and last traded at $19.96. Approximately 558,807 shares were traded during trading, a decline of 62% from the average daily volume of 1,487,655 shares. The stock had previously closed at $21.28.
Get Tandem Diabetes Care alerts:
Analysts Set New Price Targets
Several equities research analysts have issued reports on TNDM shares. Piper Sandler decreased their price objective on shares of Tandem Diabetes Care from $36.00 to $30.00 and set an "overweight" rating for the company in a research note on Thursday, May 1st. Canaccord Genuity Group upped their price target on shares of Tandem Diabetes Care from $58.00 to $59.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Mizuho assumed coverage on shares of Tandem Diabetes Care in a research report on Thursday, April 10th. They issued a "neutral" rating and a $20.00 target price for the company. Sanford C. Bernstein lowered shares of Tandem Diabetes Care from an "outperform" rating to a "market perform" rating and decreased their target price for the company from $35.00 to $25.00 in a research report on Friday, February 28th. Finally, The Goldman Sachs Group decreased their target price on shares of Tandem Diabetes Care from $42.00 to $24.00 and set a "neutral" rating for the company in a research report on Monday, March 3rd. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $37.47.
Check Out Our Latest Analysis on Tandem Diabetes Care
Tandem Diabetes Care Trading Down 6.3%
The firm has a market capitalization of $1.33 billion, a P/E ratio of -10.28 and a beta of 1.47. 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 firm has a 50 day simple moving average of $19.44 and a two-hundred day simple moving average of $27.20.
Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last posted its earnings results on Wednesday, April 30th. The medical device company reported ($0.67) earnings per share for the quarter, missing analysts' consensus estimates of ($0.60) by ($0.07). The company 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 firm's quarterly revenue was up 22.3% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.65) EPS. Equities research analysts forecast that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current year.
Insider Buying and Selling at Tandem Diabetes Care
In related news, COO Jean-Claude Kyrillos bought 10,538 shares of the stock in a transaction on Friday, March 7th. The shares were acquired at an average price of $18.12 per share, for a total transaction of $190,948.56. Following the purchase, the chief operating officer now owns 10,538 shares of the company's stock, valued at approximately $190,948.56. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.90% of the company's stock.
Institutional Investors Weigh In On Tandem Diabetes Care
A number of institutional investors have recently added to or reduced their stakes in TNDM. AlphaQuest LLC raised its holdings 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 acquiring an additional 541 shares in the last quarter. Assetmark Inc. raised its stake in shares of Tandem Diabetes Care by 42.9% during the 1st quarter. Assetmark Inc. now owns 1,750 shares of the medical device company's stock worth $34,000 after buying an additional 525 shares during the period. NBC Securities Inc. purchased a new stake in shares of Tandem Diabetes Care during the first quarter worth approximately $37,000. Jones Financial Companies Lllp increased its position 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 worth $41,000 after purchasing an additional 748 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in Tandem Diabetes Care by 163.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,775 shares of the medical device company's stock valued at $65,000 after buying an additional 1,101 shares in the last quarter.
Tandem Diabetes Care Company Profile
(Get Free Report)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.
Recommended Stories
- Five stocks we like better than Tandem Diabetes Care
- 10 Best Airline Stocks to Buy
- Nike’s Amazon Expansion Could Signal a Turnaround in 2025
- 3 Fintech Stocks With Good 2021 Prospects
- Intel’s Turnaround May Be the Best Bet No One’s Watching
- Where to Find Earnings Call Transcripts
- 3 Defense Stocks That Will Profit From a Golden Dome
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Should You Invest $1,000 in Tandem Diabetes Care Right Now?
Before you consider Tandem Diabetes Care, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Tandem Diabetes Care wasn't on the list.
While Tandem Diabetes Care currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
