Tandem Diabetes Care Inc (NASDAQ: TNDM) stock fell -3.32% on Friday to $17.79 against a previous-day closing price of $18.40. With 1.17 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.63 million shares. During the session, the Medical Devices company that operates in wider Healthcare sector, reached to the highest price of $18.67 whereas the lowest price it dropped to was $17.66. The 52-week range on TNDM shows that it touched its highest point at $47.17 and its lowest point at $13.82 during that stretch. It currently has a 1-year price target of $28.27. Beta for the stock currently stands at 0.94.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of TNDM was up-trending over the past week, with a rise of 24.58%, but this was down by -8.82% over a month. Three-month performance dropped to -35.98% while six-month performance fell -36.74%. The stock lost -55.04% in the past year, while it has lost -60.42% so far this year. A look at the trailing 12-month EPS for TNDM yields -3.22 with Next year EPS estimates of -1.34. For the next quarter, that number is -0.27. This implies an EPS growth rate of -118.41% for this year and 58.34% for next year.
Float and Shares Shorts:
At present, 65.21 million TNDM shares are outstanding with a float of 64.76 million shares on hand for trading. On Oct 30, 2023, short shares totaled 8.7 million, which was 13.35% higher than short shares on Sep 28, 2023. In addition to Mr. John F. Sheridan as the firm’s President, CEO & Director, Ms. Leigh A. Vosseller serves as its Executive VP, CFO & Treasurer.
Through their ownership of 108.45% of TNDM’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 61.19% of TNDM, in contrast to 47.62% held by mutual funds. Shares owned by individuals account for 0.78%. As the largest shareholder in TNDM with 12.37% of the stake, BlackRock Fund Advisors holds 8,051,631 shares worth 8,051,631. A second-largest stockholder of TNDM, The Vanguard Group, Inc., holds 6,912,667 shares, controlling over 10.62% of the firm’s shares. Capital Research & Management Co is the third largest shareholder in TNDM, holding 6,545,338 shares or 10.06% stake. With a 7.35% stake in TNDM, the American Funds Small Cap World Fu is the largest stakeholder. A total of 4,783,896 shares are owned by the mutual fund manager. The iShares Core S&P Small Cap ETF, which owns about 6.73% of TNDM stock, is the second-largest Mutual Fund holder. It holds 4,378,162 shares valued at 75.74 million. Vanguard Total Stock Market ETF holds 3.18% of the stake in TNDM, owning 2,067,078 shares worth 35.76 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for TNDM since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With TNDM analysts setting a high price target of $60.00 and a low target of $17.00, the average target price over the next 12 months is $28.27. Based on these targets, TNDM could surge 237.27% to reach the target high and fall by -4.44% to reach the target low. Reaching the average price target will result in a growth of 58.91% from current levels.
Summary of Insider Activity:
Insiders traded TNDM stock several times over the past three months with 9 Buys and 8 Sells. In these transactions, 4,536 shares were bought while 1,216 shares were sold. The number of buy transactions has increased to 98 while that of sell transactions has risen to 76 over the past year. The total number of shares bought during that period was 138,073 while 56,110 shares were sold.