Tandem Diabetes Care (NASDAQ:TNDM) Stock Price Down 6.9% – Time to Sell?

Tandem Diabetes Care, Inc. (NASDAQ:TNDM)’s share price fell 6.9% during mid-day trading on Friday . The stock traded as low as $20.29 and last traded at $20.9450. 443,714 shares changed hands during trading, a decline of 58% from the average session volume of 1,055,906 shares. The stock had previously closed at $22.50.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TNDM. Wall Street Zen raised shares of Tandem Diabetes Care from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. The Goldman Sachs Group restated a “neutral” rating and issued a $25.00 price target on shares of Tandem Diabetes Care in a research report on Friday. Mizuho raised their price objective on shares of Tandem Diabetes Care from $18.00 to $21.00 and gave the stock a “neutral” rating in a report on Wednesday, December 17th. Royal Bank Of Canada reissued an “outperform” rating and issued a $30.00 target price on shares of Tandem Diabetes Care in a report on Wednesday, December 17th. Finally, Morgan Stanley set a $23.00 price target on Tandem Diabetes Care and gave the stock an “equal weight” rating in a research report on Tuesday, December 2nd. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $24.00.

Tandem Diabetes Care Trading Down 3.6%

The company has a quick ratio of 1.90, a current ratio of 2.44 and a debt-to-equity ratio of 2.33. The business’s fifty day moving average is $20.38 and its two-hundred day moving average is $16.28. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of -7.11 and a beta of 1.68.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings data on Thursday, November 6th. The medical device company reported ($0.31) EPS for the quarter, meeting analysts’ consensus estimates of ($0.31). The firm had revenue of $249.25 million for the quarter, compared to analyst estimates of $235.80 million. Tandem Diabetes Care had a negative return on equity of 73.97% and a negative net margin of 20.19%.The business’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period last year, the company earned ($0.35) EPS. Equities analysts anticipate that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current fiscal year.

Institutional Trading of Tandem Diabetes Care

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. ArrowMark Colorado Holdings LLC lifted its holdings in Tandem Diabetes Care by 36.7% in the third quarter. ArrowMark Colorado Holdings LLC now owns 3,691,198 shares of the medical device company’s stock valued at $44,811,000 after buying an additional 991,649 shares during the period. Hood River Capital Management LLC lifted its stake in shares of Tandem Diabetes Care by 10.9% in the 2nd quarter. Hood River Capital Management LLC now owns 2,564,978 shares of the medical device company’s stock valued at $47,811,000 after purchasing an additional 252,934 shares during the period. Paradice Investment Management LLC boosted its position in shares of Tandem Diabetes Care by 24.3% in the 3rd quarter. Paradice Investment Management LLC now owns 2,196,468 shares of the medical device company’s stock worth $26,665,000 after purchasing an additional 429,289 shares during the last quarter. Freestone Grove Partners LP bought a new position in shares of Tandem Diabetes Care in the 3rd quarter worth $22,706,000. Finally, Stephens Investment Management Group LLC grew its stake in shares of Tandem Diabetes Care by 1.8% during the second quarter. Stephens Investment Management Group LLC now owns 1,737,769 shares of the medical device company’s stock worth $32,392,000 after purchasing an additional 30,854 shares during the period.

Tandem Diabetes Care Company Profile

Tandem Diabetes Care, Inc (NASDAQ: TNDM), headquartered in San Diego, California, is a medical device company focused on the design, development and commercialization of innovative insulin delivery systems for people with insulin-dependent diabetes. Founded in 2006, the company introduced its first product, the t:slim® Insulin Pump, in 2011 and has since built a portfolio of next-generation pumps featuring touchscreen interfaces, remote software updates and integrated continuous glucose monitoring (CGM) capabilities.

The company’s flagship offering, the t:slim X2® Insulin Pump, is engineered to work with leading CGM sensors and features automated insulin delivery algorithms that adjust basal insulin rates based on real-time glucose trends.