What Happened?
A number of stocks fell in the afternoon session after major indices including the S&P 500 and Dow Jones Industrial Average fell sharply as investors reacted to escalating uncertainty tied to the U.S.-Iran conflict and policy deadlines set by the Trump administration. Markets dislike unpredictability, and these fears were amplified, raising concerns of prolonged conflict and rising oil prices. This negative outlook reflected in consumer confidence, with the University of Michigan's sentiment index sliding to a three-month low.
The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks.
Among others, the following stocks were impacted:
- Specialty Pharmaceuticals company Elanco (NYSE: ELAN) fell 6.5%. Is now the time to buy Elanco? Access our full analysis report here, it’s free.
- Healthcare Technology for Patients company Tandem Diabetes (NASDAQ: TNDM) fell 7.2%. Is now the time to buy Tandem Diabetes? Access our full analysis report here, it’s free.
- Drug Development Inputs & Services company Fortrea (NASDAQ: FTRE) fell 4.4%. Is now the time to buy Fortrea? Access our full analysis report here, it’s free.
- Immuno-Oncology company Natera (NASDAQ: NTRA) fell 3.8%. Is now the time to buy Natera? Access our full analysis report here, it’s free.
- Therapeutics company Myriad Genetics (NASDAQ: MYGN) fell 4.4%. Is now the time to buy Myriad Genetics? Access our full analysis report here, it’s free.
Zooming In On Tandem Diabetes (TNDM)
Tandem Diabetes’s shares are extremely volatile and have had 42 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 10 days ago when the stock gained 7.8% on the news that investment firm Piper Sandler upgraded the stock to Overweight from Neutral and increased its price target.
The firm raised its price target to $33 from $21, signaling a more optimistic outlook on the company's future performance. The positive sentiment for the stock also came amid a favorable industry backdrop. The overall market for diabetes care devices was projected to expand, propelled by a rising global incidence of diabetes, which was linked to higher obesity rates, sedentary lifestyles, and an aging population.
Tandem Diabetes is flat since the beginning of the year, and at $21.39 per share, it is trading 24.3% below its 52-week high of $28.26 from February 2026. Investors who bought $1,000 worth of Tandem Diabetes’s shares 5 years ago would now be looking at only $263.10.
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