TNDM stock trading activity
Today, Tandem Diabetes Care (TNDM) stock continued the declining trend it began on September 14. During afternoon trading today, the stock was down over 15%. The rating downgrade from Baird on September 14 triggered the downward trend in Tandem stock. Baird downgraded the stock recommendation from “buy” to “neutral.” On September 14, TNDM stock registered a decline of ~6.7% in pre-market trading and the stock was down ~7% during the day.
TNDM stock hit its 52-week high of $52.55 on September 13. The stock has registered YTD returns of over 1,600%. The stock’s bull rally was halted by Baird’s downgrade on September 14.
Analysts’ consensus recommendation on TNDM stock
As of September 17, of the total ten analysts included in a Reuters survey, 60% (or six) have “buy” or “strong buy” recommendations on TNDM stock. The remaining four analysts have provided a “hold” recommendation on the stock. None of the analysts recommend a “buy” for Tandem Diabetes Care. On September 17, Tandem Diabetes Care had a consensus 12-month target price of $46.33 per share.
Tandem Diabetes Care’s recent performance
In recent quarters, Tandem Diabetes Care has reported stellar sales growth. During the second quarter of fiscal 2018, the company posted sales of $34.13 million, up ~60% YoY (year-over-year). For details, please read Tandem Diabetes Care Continues Its Strong Performance in Q2 2018. The company is expected to continue to register strong sales on the back of market share gains and its recently approved t:slim X2 with Basal-IQ technology. Also, the company plans to expand in international geographies starting in the second half of fiscal 2018.
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