Tandem Diabetes Care (NASDAQ:TNDM) Trading Down 5%

Tandem Diabetes Care, Inc. (NASDAQ:TNDMGet Free Report)’s share price dropped 5% on Friday . The stock traded as low as $30.01 and last traded at $30.28. Approximately 317,024 shares were traded during trading, a decline of 83% from the average daily volume of 1,865,462 shares. The stock had previously closed at $31.86.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. StockNews.com raised Tandem Diabetes Care from a “sell” rating to a “hold” rating in a report on Thursday. Citigroup raised their target price on Tandem Diabetes Care from $25.00 to $31.00 and gave the stock a “neutral” rating in a research note on Friday, March 15th. Finally, Stifel Nicolaus boosted their price target on shares of Tandem Diabetes Care from $17.00 to $24.00 and gave the company a “hold” rating in a research report on Monday, February 5th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $36.00.

Get Our Latest Research Report on TNDM

Tandem Diabetes Care Stock Down 5.0 %

The company has a quick ratio of 3.02, a current ratio of 3.83 and a debt-to-equity ratio of 0.91. The company’s 50 day moving average price is $26.07 and its 200 day moving average price is $23.35.

Tandem Diabetes Care (NASDAQ:TNDMGet Free Report) last released its earnings results on Wednesday, February 21st. The medical device company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $204.86 million. Equities research analysts anticipate that Tandem Diabetes Care, Inc. will post -1.62 earnings per share for the current year.

Institutional Investors Weigh In On Tandem Diabetes Care

A number of large investors have recently modified their holdings of TNDM. PNC Financial Services Group Inc. increased its holdings in Tandem Diabetes Care by 2.7% in the first quarter. PNC Financial Services Group Inc. now owns 6,246 shares of the medical device company’s stock valued at $726,000 after buying an additional 164 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of Tandem Diabetes Care by 3.4% in the 1st quarter. Canada Pension Plan Investment Board now owns 5,616 shares of the medical device company’s stock valued at $654,000 after acquiring an additional 184 shares during the last quarter. State of Wyoming increased its holdings in shares of Tandem Diabetes Care by 45.8% in the 4th quarter. State of Wyoming now owns 821 shares of the medical device company’s stock valued at $37,000 after acquiring an additional 258 shares during the last quarter. Stephens Inc. AR raised its position in shares of Tandem Diabetes Care by 17.6% during the 1st quarter. Stephens Inc. AR now owns 2,120 shares of the medical device company’s stock worth $86,000 after acquiring an additional 317 shares in the last quarter. Finally, Legal & General Group Plc lifted its stake in Tandem Diabetes Care by 0.3% during the second quarter. Legal & General Group Plc now owns 97,817 shares of the medical device company’s stock worth $5,790,000 after purchasing an additional 318 shares during 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.

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