Now Is A Good Time To Buy Tandem Diabetes Care Inc (NASDAQ: TNDM)

During the last session, Tandem Diabetes Care Inc (NASDAQ:TNDM)’s traded shares were 1.25 million, with the beta value of the company hitting 1.14. At the end of the trading day, the stock’s price was $34.26, reflecting an intraday gain of 2.27% or $0.76. The 52-week high for the TNDM share is $43.51, that puts it down -27.0 from that peak though still a striking 59.66% gain since the share price plummeted to a 52-week low of $13.82. The company’s market capitalization is $2.25B, and the average intraday trading volume over the past 10 days was 1.74 million shares, and the average trade volume was 1.86 million shares over the past three months.

Tandem Diabetes Care Inc (NASDAQ:TNDM) trade information

Tandem Diabetes Care Inc (TNDM) registered a 2.27% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 2.27% in intraday trading to $34.26, hitting a weekly high. The stock’s 5-day price performance is 1.69%, and it has moved by 10.02% in 30 days. Based on these gigs, the overall price performance for the year is -15.64%. The short interest in Tandem Diabetes Care Inc (NASDAQ:TNDM) is 8.08 million shares and it means that shorts have 3.09 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 up 55.80% during the last six months, with a year-to-date growth rate less than the industry average at -3.18% against 13.90. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to shrink -19.00% this quarter and then drop -70.00% in the quarter after that. In the rating firms’ projections, revenue will increase 13.00% compared to the previous financial year.

Revenue for the current quarter is expected to be $174.25 million as predicted by 16 analyst(s). Meanwhile, a consensus of 16 analyst(s) estimates revenue growth to $204.55 million by the end of Jun 2024. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $170.23 million and $197.36 million respectively. In this case, analysts expect current quarter sales to grow by 2.40% and then jump by 3.60% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -6.11%. While earnings are projected to return 50.89% in 2024.

TNDM Dividends

Tandem Diabetes Care Inc is due to release its next quarterly earnings between May 01 and May 06. 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 0.64% of total outstanding shares while institutional holders control 110.27%, with the float percentage being 110.98%. Blackrock Inc. is the largest shareholder of the company, while 381 institutions own stock in it. As of Jun 29, 2023, the company held over 8.97 million shares (or 13.78% of all shares), a total value of $220.13 million in shares.

The next largest institutional holding, with 7.01 million shares, is of Vanguard Group Inc’s that is approximately 10.78% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $172.1 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 iShares Core S&P Smallcap ETF. Data provided on Jun 29, 2023 indicates that Smallcap World Fund owns about 4.53 million shares. This amounts to just over 6.95 percent of the company’s overall shares, with a $111.05 million market value. The same data shows that the other fund manager holds slightly less at 4.39 million, or about 6.75% of the stock, which is worth about $91.26 million.