Tandem Diabetes Care’s recent trading activity
On June 26, Tandem Diabetes Care (TNDM) ended the trading day at $23.64, ~7.3% lower than its 52-week low of $25.50 reached on June 22, triggered by news of the FDA’s approval of the company’s new insulin pump. On June 26, Tandem stock was trading ~1,000% higher than the 52-week low of $2.14 it reached on February 9.
Currently, TNDM stock is trading significantly higher than its 50-day moving average of $15.33 and its 200-day moving average of $7. Tandem stock has risen ~67% over the last month and ~900% year-to-date.
What triggered Tandem’s recent stock price rally
On June 22, TNDM stock rose ~15% to reach its 52-week high. Analysts have also been raising their target price for the stock, showing their growing confidence in the company’s product portfolio and pipeline. On June 13, TNDM rose after Cowen raised its 12-month target price.
In May, Tandem stock rallied on the growth prospects of its closed loop system, which prompted Oppenheimer to raise its target price. Oppenheimer also raised its target price for Tandem in April after the company announced its Q1 2018 earnings results.
Industry and market comparison
As of June 27, Tandem stock had risen 194% over the last year, while the healthcare industry (XLV) had risen ~4%. Peers Medtronic (MDT), Insulet (PODD), and DexCom (DXCM) had returned -4.3%, 71.9%, and 22.7%, respectively. In the next article, we’ll discuss Tandem’s international expansion plans.
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