Zacks Investment Research cut shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) from a buy rating to a hold rating in a report issued on Thursday, November 2nd.
According to Zacks, “Tandem Diabetes Care, Inc. is a medical device company. The Company designs, develops, and commercializes products for people with insulin-dependent diabetes. Its products include t:slim Insulin Delivery System. Tandem Diabetes Care, Inc. is headquartered in San Diego, California. “
Other equities research analysts have also recently issued research reports about the company. Piper Jaffray Companies reaffirmed a hold rating and set a $15.00 target price on shares of Tandem Diabetes Care in a research report on Friday, October 6th. Wedbush reaffirmed an outperform rating and set a $17.00 target price (down previously from $50.00) on shares of Tandem Diabetes Care in a research report on Tuesday, October 10th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $11.29.
Shares of Tandem Diabetes Care (NASDAQ TNDM) traded up $0.04 during midday trading on Thursday, hitting $2.83. The company had a trading volume of 248,702 shares, compared to its average volume of 202,833. Tandem Diabetes Care has a 1-year low of $2.15 and a 1-year high of $30.00. The company has a debt-to-equity ratio of -2.70, a current ratio of 1.90 and a quick ratio of 0.88.
Tandem Diabetes Care (NASDAQ:TNDM) last announced its earnings results on Thursday, October 26th. The medical device company reported ($3.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($3.74) by $0.65. The firm had revenue of $27.00 million during the quarter, compared to analysts’ expectations of $25.92 million. Tandem Diabetes Care had a negative return on equity of 1,177.11% and a negative net margin of 79.45%. The company’s revenue was up 119.7% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.97) earnings per share. equities analysts forecast that Tandem Diabetes Care will post -15.18 earnings per share for the current year.
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In related news, CEO Kim D. Blickenstaff acquired 285,700 shares of the company’s stock in a transaction on Friday, October 13th. The stock was purchased at an average cost of $3.50 per share, for a total transaction of $999,950.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 20.90% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in TNDM. Russell Investments Group Ltd. acquired a new position in Tandem Diabetes Care during the first quarter worth $360,000. Bank of America Corp DE grew its holdings in shares of Tandem Diabetes Care by 88.6% during the first quarter. Bank of America Corp DE now owns 861,026 shares of the medical device company’s stock worth $1,032,000 after purchasing an additional 404,452 shares during the last quarter. Keybank National Association OH grew its holdings in shares of Tandem Diabetes Care by 32.7% during the second quarter. Keybank National Association OH now owns 293,206 shares of the medical device company’s stock worth $235,000 after purchasing an additional 72,177 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Tandem Diabetes Care by 2.7% during the second quarter. Vanguard Group Inc. now owns 1,233,607 shares of the medical device company’s stock worth $987,000 after purchasing an additional 32,991 shares during the last quarter. Finally, Wedbush Securities Inc. grew its holdings in shares of Tandem Diabetes Care by 88.6% during the third quarter. Wedbush Securities Inc. now owns 188,877 shares of the medical device company’s stock worth $138,000 after purchasing an additional 88,709 shares during the last quarter.
About Tandem Diabetes Care
Tandem Diabetes Care, Inc is a medical device company. The Company is engaged in designing, developing and commercializing products for people with insulin-dependent diabetes. The Company manufactures and sells three insulin pump products, which include t:slim Insulin Delivery System (t:slim), t:flex Insulin Delivery System (t:flex) and t:slim G4 Insulin Delivery System (t:slim G4).
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