Tandem Diabetes Care (NASDAQ:TNDM) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

Tandem Diabetes Care, Inc. (NASDAQ:TNDM)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $16.13 and traded as high as $22.79. Tandem Diabetes Care shares last traded at $22.48, with a volume of 597,738 shares changing hands.

Analysts Set New Price Targets

A number of analysts have recently issued reports on TNDM shares. Royal Bank Of Canada reissued an “outperform” rating and set a $30.00 target price on shares of Tandem Diabetes Care in a research note on Wednesday, December 17th. Stifel Nicolaus began coverage on shares of Tandem Diabetes Care in a research report on Tuesday, October 21st. They issued a “hold” rating and a $15.00 price objective for the company. Truist Financial set a $24.00 target price on shares of Tandem Diabetes Care and gave the stock a “hold” rating in a research report on Thursday, December 18th. Barclays boosted their price target on Tandem Diabetes Care from $51.00 to $55.00 and gave the company an “overweight” rating in a report on Monday, November 10th. Finally, Morgan Stanley set a $23.00 price objective on Tandem Diabetes Care and gave the stock an “equal weight” rating in a research note on Tuesday, December 2nd. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $23.94.

Tandem Diabetes Care Stock Performance

The firm’s fifty day moving average price is $18.59 and its 200 day moving average price is $16.13. The firm has a market cap of $1.52 billion, a P/E ratio of -7.37 and a beta of 1.68. The company has a debt-to-equity ratio of 2.33, a quick ratio of 1.90 and a current ratio of 2.44.

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in TNDM. Caitong International Asset Management Co. Ltd lifted its stake in shares of Tandem Diabetes Care by 200.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 2,205 shares of the medical device company’s stock worth $27,000 after purchasing an additional 1,470 shares during the last quarter. Quarry LP raised its holdings in Tandem Diabetes Care by 2,597.1% in the third quarter. Quarry LP now owns 3,695 shares of the medical device company’s stock worth $45,000 after purchasing an additional 3,558 shares in the last quarter. CWM LLC lifted its position in shares of Tandem Diabetes Care by 262.6% during the second quarter. CWM LLC now owns 2,796 shares of the medical device company’s stock valued at $52,000 after buying an additional 2,025 shares during the last quarter. CoreCap Advisors LLC boosted its holdings in shares of Tandem Diabetes Care by 270.3% in the 3rd quarter. CoreCap Advisors LLC now owns 4,751 shares of the medical device company’s stock valued at $58,000 after buying an additional 3,468 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd grew its position in shares of Tandem Diabetes Care by 485.1% in the 3rd quarter. Aster Capital Management DIFC Ltd now owns 5,149 shares of the medical device company’s stock worth $63,000 after buying an additional 4,269 shares during the last quarter.

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.