During the last session, Tandem Diabetes Care Inc. (NASDAQ:TNDM)’s traded shares were 1.2 million, with the beta value of the company hitting 0.95. At the end of the trading day, the stock’s price was $26.29, reflecting an intraday loss of -6.71% or -$1.89. The 52-week high for the TNDM share is $75.47, that puts it down -187.07 from that peak though still a striking -6.58% loss since the share price plummeted to a 52-week low of $28.02. The company’s market capitalization is $1.79B, and the average intraday trading volume over the past 10 days was 1.27 million shares, and the average trade volume was 1.34 million shares over the past three months.
Tandem Diabetes Care Inc. (NASDAQ:TNDM) trade information
Tandem Diabetes Care Inc. (TNDM) registered a -6.71% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -6.71% in intraday trading to $26.29 this Thursday, 05/25/23, hitting a weekly high. The stock’s 5-day price performance is -11.24%, and it has moved by -29.89% in 30 days. Based on these gigs, the overall price performance for the year is -59.73%. The short interest in Tandem Diabetes Care Inc. (NASDAQ:TNDM) is 6.24 million shares and it means that shorts have 6.43 day(s) to cover.
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Tandem Diabetes Care Inc. (TNDM) estimates and forecasts
Statistics show that Tandem Diabetes Care Inc. has underperformed its competitors in share price, compared to the industry in which it operates. Tandem Diabetes Care Inc. (TNDM) shares have gone down -29.80% during the last six months, with a year-to-date growth rate less than the industry average at -39.19% against 9.30. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to shrink -116.70% this quarter and then jump 88.20% in the quarter after that. In the rating firms’ projections, revenue will increase 10.50% compared to the previous financial year.
Revenue for the current quarter is expected to be $202.49 million as predicted by 14 analyst(s). Meanwhile, a consensus of 14 analyst(s) estimates revenue growth to $239.44 million by the end of Sep 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $200.26 million and $207.7 million respectively. In this case, analysts expect current quarter sales to grow by 1.10% and then jump by 15.30% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 41.70%. While earnings are projected to return -709.60% in 2023.
Tandem Diabetes Care Inc. is due to release its next quarterly earnings between August 01 and August 07. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Tandem Diabetes Care Inc. (NASDAQ:TNDM)’s Major holders
Tandem Diabetes Care Inc. insiders own 0.54% of total outstanding shares while institutional holders control 104.88%, with the float percentage being 105.45%. Blackrock Inc. is the largest shareholder of the company, while 422 institutions own stock in it. As of Mar 30, 2023, the company held over 9.21 million shares (or 14.25% of all shares), a total value of $373.92 million in shares.
The next largest institutional holding, with 8.24 million shares, is of FMR, LLC’s that is approximately 12.75% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $334.62 million.
Also, the Mutual Funds coming in first place with the largest holdings of Tandem Diabetes Care Inc. (TNDM) shares are Smallcap World Fund and Fidelity Select Portfolios – Medical Technology & Devices Port. Data provided on Dec 30, 2022 indicates that Smallcap World Fund owns about 2.91 million shares. This amounts to just over 4.51 percent of the company’s overall shares, with a $131.01 million market value. The same data shows that the other fund manager holds slightly less at 2.18 million, or about 3.37% of the stock, which is worth about $78.17 million.