Tandem Diabetes Care (NASDAQ:TNDM) Reaches New 1-Year Low – Time to Sell?

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) shares hit a new 52-week low on Thursday . The company traded as low as $17.40 and last traded at $17.64, with a volume of 179644 shares trading hands. The stock had previously closed at $18.89.

Analyst Ratings Changes

A number of research firms have recently commented on TNDM. Royal Bank of Canada dropped their price target on Tandem Diabetes Care from $65.00 to $55.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. Citigroup lowered Tandem Diabetes Care from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $35.00 to $24.00 in a research report on Tuesday, March 4th. Sanford C. Bernstein downgraded shares of Tandem Diabetes Care from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $35.00 to $25.00 in a research report on Friday, February 28th. The Goldman Sachs Group decreased their target price on shares of Tandem Diabetes Care from $42.00 to $24.00 and set a “neutral” rating for the company in a research note on Monday, March 3rd. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $63.00 price target on shares of Tandem Diabetes Care in a research note on Wednesday, February 26th. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $45.38.

Tandem Diabetes Care Stock Down 6.5 %

The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 1.29. The company has a 50 day simple moving average of $27.11 and a two-hundred day simple moving average of $32.52. The firm has a market capitalization of $1.17 billion, a P/E ratio of -9.15 and a beta of 1.45.

Insider Activity at Tandem Diabetes Care

In other Tandem Diabetes Care news, COO Jean-Claude Kyrillos acquired 10,538 shares of the stock in a transaction on Friday, March 7th. The stock was acquired at an average price of $18.12 per share, for a total transaction of $190,948.56. Following the completion of the transaction, the chief operating officer now directly owns 10,538 shares of the company’s stock, valued at $190,948.56. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. AlphaQuest LLC lifted its stake in shares of Tandem Diabetes Care by 138.7% in the 4th quarter. AlphaQuest LLC now owns 931 shares of the medical device company’s stock valued at $34,000 after purchasing an additional 541 shares during the last quarter. Jones Financial Companies Lllp increased its position in Tandem Diabetes Care by 195.8% during the fourth quarter. Jones Financial Companies Lllp now owns 1,130 shares of the medical device company’s stock valued at $41,000 after acquiring an additional 748 shares during the last quarter. Assetmark Inc. raised its stake in shares of Tandem Diabetes Care by 77.5% in the fourth quarter. Assetmark Inc. now owns 1,225 shares of the medical device company’s stock valued at $44,000 after acquiring an additional 535 shares during the period. McIlrath & Eck LLC bought a new stake in shares of Tandem Diabetes Care in the 3rd quarter worth about $52,000. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Tandem Diabetes Care by 163.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,775 shares of the medical device company’s stock worth $65,000 after purchasing an additional 1,101 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.