Tandem Diabetes Care Inc (NASDAQ:TNDM) price on Wednesday, November 13, fall -4.60% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $29.67.
A look at the stock’s price movement, the close in the last trading session was $31.10, moving within a range at $29.31 and $31.57. The beta value (5-Year monthly) was 1.367. Turning to its 52-week performance, $53.69 and $14.33 were the 52-week high and 52-week low respectively. Overall, TNDM moved -21.11% over the past month.
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Tandem Diabetes Care Inc’s market cap currently stands at around $1.95 billion, with investors looking forward to this quarter’s earnings report slated for in December.
Analysts have a consensus estimate of 251.32M for the company’s revenue for the quarter, with a low and high estimate of 244.8M and 280.5M respectively. The average forecast suggests up to a 27.70% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 908.92M, representing a 21.60% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that TNDM is a 100% Sell. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in 50% Sell category.
10 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 1 analyst(s) rate the stock as a Hold, 8 recommend TNDM as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 1 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
TNDM’s current price about -8.80% and -22.02% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 32.07, while 7-day volatility ratio is 7.63% and 5.55% in the 30-day chart. Further, Tandem Diabetes Care Inc (TNDM) has a beta value of 1.34, and an average true range (ATR) of 1.96. Analysts have given the company’s stock an average 52-week price target of $58, forecast between a low of $36 and high of $160. Looking at the price targets, the low is -21.33% off current price level while to achieve the yearly target high, price needs to move -439.27%. Nonetheless, investors will most likely welcome a -95.48% jump to $58 which is the analysts’ median price.
If we refocus on Tandem Diabetes Care Inc (NASDAQ:TNDM), historical trading data shows that trading volumes averaged 1.82 over the past 10 days and 1.27 million over the past 3 months. The company’s latest data on shares outstanding shows there are 65.55 million shares.
The 0.79% of Tandem Diabetes Care Inc’s shares are in the hands of company insiders while institutional holders own 113.28% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 8.39 million on 2024-10-31, giving us a short ratio of 6.85. The data shows that as of 2024-10-31 short interest in Tandem Diabetes Care Inc (TNDM) stood at 1979.0001 of shares outstanding, with shares short falling to 10.07 million registered in 2024-09-30. Current price change has pushed the stock 0.30% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the TNDM stock continues to rise going into the next quarter.
