Tandem Diabetes Care (NASDAQ:TNDM) Sets New 52-Week Low - Time to Sell?

Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Get Free Report) shares reached a new 52-week low during trading on Tuesday . The company traded as low as $17.64 and last traded at $18.16, with a volume of 2088624 shares changing hands. The stock had previously closed at $17.96.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TNDM. Canaccord Genuity Group reiterated a "buy" rating and issued a $63.00 price objective on shares of Tandem Diabetes Care in a research report on Wednesday, February 26th. Sanford C. Bernstein lowered Tandem Diabetes Care from an "outperform" rating to a "market perform" rating and cut their price objective for the stock from $35.00 to $25.00 in a report on Friday, February 28th. Barclays lowered their target price on shares of Tandem Diabetes Care from $60.00 to $53.00 and set an "overweight" rating on the stock in a research note on Friday, February 28th. The Goldman Sachs Group decreased their price target on shares of Tandem Diabetes Care from $42.00 to $24.00 and set a "neutral" rating on the stock in a report on Monday, March 3rd. Finally, Royal Bank of Canada dropped their price objective on shares of Tandem Diabetes Care from $65.00 to $55.00 and set an "outperform" rating for the company in a report on Thursday, February 27th. Eight analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $45.38.

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Tandem Diabetes Care Stock Performance

The company has a debt-to-equity ratio of 1.29, a current ratio of 2.90 and a quick ratio of 2.32. The company has a market capitalization of $1.24 billion, a PE ratio of -9.68 and a beta of 1.45. The company has a 50 day moving average of $32.43 and a two-hundred day moving average of $35.10.

Insider Activity at Tandem Diabetes Care

In other news, COO Jean-Claude Kyrillos bought 10,538 shares of the company's stock in a transaction dated Friday, March 7th. The shares were purchased at an average price of $18.12 per share, for a total transaction of $190,948.56. Following the completion of the purchase, the chief operating officer now owns 10,538 shares in the company, valued at approximately $190,948.56. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tandem Diabetes Care

A number of hedge funds have recently added to or reduced their stakes in TNDM. Arizona State Retirement System lifted its holdings in shares of Tandem Diabetes Care by 1.9% during the fourth quarter. Arizona State Retirement System now owns 18,961 shares of the medical device company's stock valued at $683,000 after purchasing an additional 362 shares in the last quarter. Bank of Montreal Can grew its stake in shares of Tandem Diabetes Care by 4.3% in the fourth quarter. Bank of Montreal Can now owns 10,004 shares of the medical device company's stock worth $360,000 after acquiring an additional 409 shares during the period. Summit Investment Advisors Inc. lifted its position in Tandem Diabetes Care by 8.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 6,870 shares of the medical device company's stock valued at $247,000 after purchasing an additional 525 shares during the period. Assetmark Inc. raised its stake in Tandem Diabetes Care by 77.5% during the 4th quarter. Assetmark Inc. now owns 1,225 shares of the medical device company's stock valued at $44,000 after buying an additional 535 shares during the last quarter. Finally, AlphaQuest LLC lifted its holdings in shares of Tandem Diabetes Care by 138.7% during the 4th quarter. AlphaQuest LLC now owns 931 shares of the medical device company's stock valued at $34,000 after buying an additional 541 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.