Tandem Diabetes Care (NASDAQ:TNDM) Trading Down 2.9%

Tandem Diabetes Care, Inc. (NASDAQ:TNDM)’s share price traded down 2.9% during mid-day trading on Monday . The company traded as low as $32.52 and last traded at $32.52. 63,900 shares were traded during trading, a decline of 96% from the average session volume of 1,758,071 shares. The stock had previously closed at $33.50.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Stifel Nicolaus raised shares of Tandem Diabetes Care from a “hold” rating to a “buy” rating and upped their price target for the company from $24.00 to $37.00 in a research note on Tuesday, March 26th. StockNews.com downgraded shares of Tandem Diabetes Care from a “hold” rating to a “sell” rating in a research note on Thursday, April 11th. Finally, Citigroup increased their target price on shares of Tandem Diabetes Care from $31.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday, April 3rd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $37.00.

Tandem Diabetes Care Trading Up 3.5 %

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 company’s fifty day simple moving average is $29.30 and its 200-day simple moving average is $24.62.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its 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 return on equity of 31.48% and a negative net margin of 29.77%. The business had revenue of $196.80 million for the quarter, compared to the consensus estimate of $204.86 million. As a group, equities research analysts forecast that Tandem Diabetes Care, Inc. will post -1.62 earnings per share for the current fiscal year.

Institutional Trading of Tandem Diabetes Care

Hedge funds have recently modified their holdings of the company. Eminence Capital LP lifted its position in shares of Tandem Diabetes Care by 76.1% during the third quarter. Eminence Capital LP now owns 5,490,017 shares of the medical device company’s stock valued at $114,028,000 after buying an additional 2,372,458 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Tandem Diabetes Care by 4.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 367,011 shares of the medical device company’s stock valued at $7,623,000 after purchasing an additional 16,586 shares during the last quarter. Raymond James & Associates raised its position in shares of Tandem Diabetes Care by 128.5% in the 4th quarter. Raymond James & Associates now owns 91,985 shares of the medical device company’s stock valued at $2,721,000 after purchasing an additional 51,721 shares during the last quarter. Paradice Investment Management LLC raised its position in shares of Tandem Diabetes Care by 23.9% in the 3rd quarter. Paradice Investment Management LLC now owns 1,520,065 shares of the medical device company’s stock valued at $31,572,000 after purchasing an additional 293,250 shares during the last quarter. Finally, Banque Pictet & Cie SA purchased a new position in shares of Tandem Diabetes Care in the 3rd quarter valued at approximately $2,295,000.

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.