In the last trading session, 2.63 million Tandem Diabetes Care Inc. (NASDAQ:TNDM) shares changed hands as the company’s beta touched 0.88. With the company’s per share price at $21.75 changed hands at -$1.0 or -4.40% during last session, the market valuation stood at $1.48B. TNDM’s last price was a discount, traded about -175.45% off its 52-week high of $59.91. The share price had its 52-week low at $21.60, which suggests the last value was 0.69% up since then. When we look at Tandem Diabetes Care Inc.’s average trading volume, we note the 10-day average is 1.77 million shares, with the 3-month average coming to 1.41 million.
Analysts gave the Tandem Diabetes Care Inc. (TNDM) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.50. If we narrow down to specifics, the data shows that 0 out of 18 analysts rate the stock as a Sell, with a further 1 assigning it an Overweight rating. Of the remaining, 9 recommended TNDM as a Hold, 7 felt it is a Buy and 1 rated the stock as Underweight. Tandem Diabetes Care Inc.’s EPS for the current quarter is expected to be -$0.34.
Tandem Diabetes Care Inc. (NASDAQ:TNDM) trade information
Instantly TNDM was in red as seen at the end of in last trading. With action -7.41%, the performance over the past five days has been red. The drop to weekly highs of 24.58 on Friday, 09/15/23 subtracted -4.40% to the stock’s daily price. The company’s shares are showing year-to-date downside of -51.61%, with the 5-day performance at -7.41% in the red. However, in the 30-day time frame, Tandem Diabetes Care Inc. (NASDAQ:TNDM) is -21.96% down. Looking at the short shares, we see there were 7.38 million shares sold at short interest cover period of 5.38 days.
The consensus price target for the stock as assigned by Wall Street analysts is $42.43, meaning bulls need an upside of 48.74% from its current market value. According to analyst projections, TNDM’s forecast low is $30.00 with $62.00 as the target high. To hit the forecast high, the stock’s price needs a -185.06% plunge from its current level, while the stock would need to soar -37.93% for it to hit the projected low.
Tandem Diabetes Care Inc. (TNDM) estimates and forecasts
Data shows that the Tandem Diabetes Care Inc. share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -47.49% over the past 6 months, a -101.35% in annual growth rate that is considerably lower than the industry average of 9.00%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Tandem Diabetes Care Inc. will rise 55.30%, while the growth in revenue is estimated to hit 44.00% for the next quarter. Year-over-year growth is forecast to reach -1.60% down from the last financial year.
Consensus estimates given by 14 financial analysts project the company’s revenue in the current quarter to hit an average of $192.35 million. 14 analysts are of the opinion that Tandem Diabetes Care Inc.’s revenue for the quarter ending Dec 2023 will be $226.13 million. The company’s revenue for the corresponding quarters a year ago was $207.7 million and $220.5 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -7.40%. The estimates for the next quarter sales put growth at 2.60%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 41.70%. The 2023 estimates are for Tandem Diabetes Care Inc. earnings to decrease by -709.60%.
Tandem Diabetes Care Inc. is expected to release its next quarterly earnings report in October.
Tandem Diabetes Care Inc. (NASDAQ:TNDM)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.59% of Tandem Diabetes Care Inc. shares while 108.45% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 109.09%. There are 108.45% institutions holding the Tandem Diabetes Care Inc. stock share, with Blackrock Inc. the top institutional holder. As of Jun 29, 2023, the company held 13.78% of the shares, roughly 8.97 million TNDM shares worth $220.13 million.
Vanguard Group Inc holds the second largest percentage of outstanding shares, with 10.78% or 7.01 million shares worth $172.1 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Aug 30, 2023 were iShares Core S&P Smallcap ETF and Smallcap World Fund. With 4.56 million shares estimated at $124.68 million under it, the former controlled 7.00% of total outstanding shares. On the other hand, Smallcap World Fund held about 6.95% of the shares, roughly 4.53 million shares worth around $111.05 million.