Tandem Diabetes Care (NASDAQ:TNDM) Shares Gap Up to $35.24

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) shares gapped up before the market opened on Monday . The stock had previously closed at $35.24, but opened at $37.25. Tandem Diabetes Care shares last traded at $37.68, with a volume of 135,297 shares trading hands.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Wells Fargo & Company raised shares of Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $21.00 to $45.00 in a research note on Monday. SVB Leerink raised shares of Tandem Diabetes Care from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $34.00 to $45.00 in a research report on Thursday, April 25th. Leerink Partnrs raised shares of Tandem Diabetes Care from a “market perform” rating to an “outperform” rating in a research note on Thursday, April 25th. StockNews.com raised Tandem Diabetes Care from a “sell” rating to a “hold” rating in a research note on Friday, April 19th. Finally, Stifel Nicolaus raised their price objective on Tandem Diabetes Care from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, April 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $40.82.

Tandem Diabetes Care Price Performance

The company has a market cap of $2.37 billion, a PE ratio of -10.67 and a beta of 1.12. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.83 and a quick ratio of 3.02. The stock’s 50-day moving average is $31.47 and its 200 day moving average is $25.75.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings results on Wednesday, February 21st. The medical device company reported ($0.27) earnings per share 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 during the quarter, compared to analyst estimates of $204.86 million. On average, equities analysts anticipate that Tandem Diabetes Care, Inc. will post -1.62 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Eminence Capital LP increased its position in shares of Tandem Diabetes Care by 76.1% in the 3rd quarter. Eminence Capital LP now owns 5,490,017 shares of the medical device company’s stock valued at $114,028,000 after acquiring an additional 2,372,458 shares during the period. GW&K Investment Management LLC acquired a new position in shares of Tandem Diabetes Care in the fourth quarter valued at about $36,288,000. Jennison Associates LLC raised its stake in shares of Tandem Diabetes Care by 252.6% in the third quarter. Jennison Associates LLC now owns 1,122,915 shares of the medical device company’s stock worth $23,323,000 after purchasing an additional 804,488 shares during the last quarter. Chicago Capital LLC lifted its holdings in shares of Tandem Diabetes Care by 699.8% during the third quarter. Chicago Capital LLC now owns 904,410 shares of the medical device company’s stock worth $18,785,000 after purchasing an additional 791,336 shares during the period. Finally, Paradice Investment Management LLC lifted its holdings in shares of Tandem Diabetes Care by 23.9% during the third quarter. Paradice Investment Management LLC now owns 1,520,065 shares of the medical device company’s stock worth $31,572,000 after purchasing an additional 293,250 shares during the period.

About Tandem Diabetes Care

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.