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

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) shares gapped up prior to trading 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 changing hands.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Morgan Stanley upgraded shares of Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and set a $45.00 price target for the company in a report on Monday. The Goldman Sachs Group started coverage on shares of Tandem Diabetes Care in a research note on Friday, October 4th. They set a “neutral” rating and a $46.00 target price for the company. Sanford C. Bernstein began coverage on shares of Tandem Diabetes Care in a research note on Wednesday, November 6th. They issued an “outperform” rating and a $42.00 price target on the stock. Robert W. Baird reduced their price objective on 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. Finally, Royal Bank of Canada began coverage on Tandem Diabetes Care in a research note on Wednesday, October 2nd. They issued an “outperform” rating and a $65.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $54.25.

Tandem Diabetes Care Trading Up 2.6 %

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 business’s 50 day moving average is $34.38 and its 200-day moving average is $40.54.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its earnings results on Wednesday, November 6th. The medical device company reported ($0.35) earnings per share for the quarter, beating the consensus estimate of ($0.43) by $0.08. The firm had revenue of $243.97 million during the quarter, compared to the consensus estimate of $224.14 million. Tandem Diabetes Care had a negative return on equity of 44.19% and a negative net margin of 14.84%. The firm’s revenue for the quarter was up 31.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.38) EPS. Research analysts forecast that Tandem Diabetes Care, Inc. will post -1.68 EPS 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 that occurred on Wednesday, November 20th. The stock was sold at an average price of $30.00, for a total value of $300,000.00. Following the completion of the sale, the director now owns 195,190 shares in the company, valued at approximately $5,855,700. This trade represents a 4.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TNDM. State Street Corp boosted its holdings in Tandem Diabetes Care by 3.2% during the third quarter. State Street Corp now owns 2,655,736 shares of the medical device company’s stock valued at $112,630,000 after purchasing an additional 83,172 shares in the last quarter. Fred Alger Management LLC lifted its position in shares of Tandem Diabetes Care by 45.2% during the 2nd quarter. Fred Alger Management LLC now owns 2,174,107 shares of the medical device company’s stock worth $87,595,000 after buying an additional 677,036 shares during the period. Bellevue Group AG boosted its stake in Tandem Diabetes Care by 19.9% in the 3rd quarter. Bellevue Group AG now owns 1,850,891 shares of the medical device company’s stock valued at $78,496,000 after buying an additional 307,624 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Tandem Diabetes Care by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,525,816 shares of the medical device company’s stock worth $64,722,000 after purchasing an additional 18,187 shares during the last quarter. Finally, Stephens Investment Management Group LLC grew its stake in Tandem Diabetes Care by 12.2% during the third quarter. Stephens Investment Management Group LLC now owns 1,274,482 shares of the medical device company’s stock worth $54,051,000 after buying an additional 138,263 shares during the last quarter.

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.