The stock of Tandem Diabetes Care Inc (NASDAQ:TNDM) hit a new 52-week low and has $1.94 target or 12.00% below today’s $2.20 share price. The 8 months bearish chart indicates high risk for the $59.56M company. The 1-year low was reported on Nov, 2 by Barchart.com. If the $1.94 price target is reached, the company will be worth $7.15M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. The stock decreased 58.88% or $3.15 during the last trading session, hitting $2.2. About 2.58 million shares traded hands or 1760.25% up from the average. Tandem Diabetes Care Inc (NASDAQ:TNDM) has declined 38.58% since March 31, 2016 and is downtrending. It has underperformed by 41.10% the S&P500.
Analysts await Tandem Diabetes Care Inc (NASDAQ:TNDM) to report earnings on November, 3. They expect $-0.58 earnings per share, up 10.77% or $0.07 from last year’s $-0.65 per share. After $-0.60 actual earnings per share reported by Tandem Diabetes Care Inc for the previous quarter, Wall Street now forecasts -3.33% EPS growth.
Tandem Diabetes Care Inc (NASDAQ:TNDM) Ratings Coverage
Out of 3 analysts covering Tandem Diabetes Care (NASDAQ:TNDM), 0 rate it a “Buy”, 1 “Sell”, while 2 “Hold”. This means 0 are positive. Tandem Diabetes Care has been the topic of 11 analyst reports since August 5, 2015 according to StockzIntelligence Inc. Zacks downgraded Tandem Diabetes Care Inc (NASDAQ:TNDM) on Thursday, August 20 to “Buy” rating. The firm has “Hold” rating by Stifel Nicolaus given on Wednesday, November 2. On Thursday, March 24 the stock rating was downgraded by Bank of America to “Underperform”. The rating was downgraded by Zacks to “Hold” on Friday, September 4. The firm has “Buy” rating by Zacks given on Friday, August 28. The stock has “Sell” rating given by Zacks on Wednesday, August 5. On Monday, August 10 the stock rating was maintained by Deutsche Bank with “Buy”. Zacks upgraded it to “Hold” rating and $13 target price in Saturday, August 22 report. As per Thursday, January 14, the company rating was downgraded by Bank of America.
According to Zacks Investment Research, “Tandem Diabetes Care, Inc. is a medical device company. The Company designs, develops, and commercializes products for people with insulin-dependent diabetes. Its products include t:slim Insulin Delivery System. Tandem Diabetes Care, Inc. is headquartered in San Diego, California.”
Insitutional Activity: The institutional sentiment decreased to 1.02 in 2016 Q2. Its down 0.26, from 1.28 in 2016Q1. The ratio is negative, as 18 funds sold all Tandem Diabetes Care Inc shares owned while 24 reduced positions. 9 funds bought stakes while 34 increased positions. They now own 17.85 million shares or 6.33% less from 19.06 million shares in 2016Q1.
Quantitative Systematic Strategies Ltd Liability Corporation accumulated 0.05% or 14,691 shares. Jennison Associate Limited Liability Company last reported 0% of its portfolio in the stock. Bogle Investment Management Lp De holds 0.06% or 122,811 shares in its portfolio. Essex Invest Com Limited Liability Com accumulated 58,796 shares or 0.07% of the stock. Tower Cap Limited Liability Co (Trc) reported 866 shares or 0% of all its holdings. First Republic Management owns 58,838 shares or 0% of their US portfolio. Moreover, Northern Trust Corp has 0% invested in Tandem Diabetes Care Inc (NASDAQ:TNDM) for 222,010 shares. American Intll Group last reported 10,707 shares in the company. State Board Of Administration Of Florida Retirement Sys last reported 0% of its portfolio in the stock. First Mercantile Trust accumulated 0.02% or 17,822 shares. Dafna Ltd Llc accumulated 312,756 shares or 1.87% of the stock. Ladenburg Thalmann Fincl Services Inc owns 300 shares or 0% of their US portfolio. Millennium Ltd Liability Com reported 886,996 shares or 0.02% of all its holdings. The Ontario – Canada-based Royal Retail Bank Of Canada has invested 0% in Tandem Diabetes Care Inc (NASDAQ:TNDM). Tpg Group (Sbs) Advsrs reported 2.50M shares or 0.21% of all its holdings.
More notable recent Tandem Diabetes Care Inc (NASDAQ:TNDM) news were published by: Businesswire.com which released: “Tandem Diabetes Care Reports Third Quarter 2016 Financial Results” on November 01, 2016, also Businesswire.com with their article: “Tandem Diabetes Care Announces Earlier Date for Q3 2016 Earnings Results and …” published on October 24, 2016, Businesswire.com published: “Tandem Diabetes Care Now Shipping Next-Generation t:slim X2 Insulin Pump” on October 24, 2016. More interesting news about Tandem Diabetes Care Inc (NASDAQ:TNDM) were released by: Fool.com and their article: “Why Insulet Corporation and Tandem Diabetes Care Both Tanked Today” published on May 03, 2016 as well as Nasdaq.com‘s news article titled: “Mid-Afternoon Market Update: Tandem Diabetes Drops Following Weak Q3 Results …” with publication date: November 02, 2016.
TNDM Company Profile
Tandem Diabetes Care, Inc., incorporated on January 7, 2008, is a medical device company. The Firm is engaged in designing, developing and commercializing products for people with insulin-dependent diabetes. The Firm makes and sells over three insulin pump products in the United States that are designed to address insulin-dependent diabetes market, which include t:slim Insulin Delivery System (t:slim), t:flex Insulin Delivery System (t:flex) and t:slim G4 Insulin Delivery System (t:slim G4). The Company’s technology platform features Micro-Delivery Technology, a miniaturized pumping mechanism, which draws insulin from a flexible bag within the pump’s cartridge rather than relying on a syringe and plunger mechanism. The Firm also features a software, which is a vivid color touch screen and a micro- universal serial bus (USB) connection that supports both a rechargeable battery and uploads to t:connect Diabetes Management Application (t:connect), its custom cloud data management application that provides display therapy management data from the pump and supported blood glucose meters.
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