Tandem Diabetes Care (NASDAQ:TNDM) Shares Gap Up – Should You Buy?

Tandem Diabetes Care, Inc. (NASDAQ:TNDM)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $30.63, but opened at $32.13. Tandem Diabetes Care shares last traded at $32.70, with a volume of 350,783 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TNDM. Royal Bank of Canada initiated coverage on Tandem Diabetes Care in a research note on Wednesday, October 2nd. They set an “outperform” rating and a $65.00 price objective on the stock. Robert W. Baird cut their price objective on shares of Tandem Diabetes Care from $39.00 to $37.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th. Barclays boosted their price target on Tandem Diabetes Care from $58.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Morgan Stanley upgraded Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and set a $45.00 price objective on the stock in a report on Monday. Finally, Canaccord Genuity Group started coverage on Tandem Diabetes Care in a research note on Thursday, August 8th. They issued a “buy” rating and a $57.00 target price for the company. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Tandem Diabetes Care currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.25.

Tandem Diabetes Care Stock Performance

The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 1.29. The company has a 50 day moving average of $34.38 and a 200 day moving average of $40.54.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings results on Wednesday, November 6th. The medical device company reported ($0.35) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.08. The business had revenue of $243.97 million during the quarter, compared to analyst estimates of $224.14 million. Tandem Diabetes Care had a negative net margin of 14.84% and a negative return on equity of 44.19%. The business’s revenue was up 31.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.38) earnings per share. As a group, equities research analysts predict that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current year.

Insider Buying and Selling

In other Tandem Diabetes Care news, Director Kim D. Blickenstaff sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $30.00, for a total transaction of $300,000.00. Following the transaction, the director now owns 195,190 shares of the company’s stock, valued at approximately $5,855,700. This trade represents a 4.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Brooklyn Investment Group acquired a new position in Tandem Diabetes Care in the third quarter worth approximately $28,000. Assetmark Inc. purchased a new stake in Tandem Diabetes Care during the third quarter valued at about $29,000. ORG Wealth Partners LLC acquired a new position in shares of Tandem Diabetes Care in the third quarter worth about $30,000. ORG Partners LLC acquired a new stake in shares of Tandem Diabetes Care during the second quarter valued at approximately $31,000. Finally, Waldron Private Wealth LLC acquired a new position in Tandem Diabetes Care in the 3rd quarter worth approximately $50,000.

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.