Tandem Diabetes Care, Inc. (NASDAQ:TNDM)’s share price fell 10.4% during mid-day trading on Tuesday . The stock traded as low as $0.72 and last traded at $0.72. 1,538,616 shares were traded during mid-day trading, an increase of 30% from the average session volume of 1,182,970 shares. The stock had previously closed at $0.80.
Separately, Zacks Investment Research cut shares of Tandem Diabetes Care from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $4.71.
The stock’s market capitalization is $36.09 million. The firm has a 50 day moving average of $0.63 and a 200-day moving average of $1.04.
Tandem Diabetes Care (NASDAQ:TNDM) last released its earnings results on Thursday, July 27th. The medical device company reported ($0.44) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.48) by $0.04. The company had revenue of $21.30 million during the quarter, compared to analyst estimates of $21.74 million. Tandem Diabetes Care had a negative net margin of 110.70% and a negative return on equity of 1,177.11%. The firm’s quarterly revenue was down 7.4% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.60) EPS. On average, equities analysts anticipate that Tandem Diabetes Care, Inc. will post ($1.79) EPS for the current year.
A number of institutional investors have recently added to or reduced their stakes in TNDM. Russell Investments Group Ltd. purchased a new stake in Tandem Diabetes Care in the 1st quarter worth approximately $360,000. OLD National Bancorp IN increased its holdings in Tandem Diabetes Care by 31.0% in the 1st quarter. OLD National Bancorp IN now owns 119,779 shares of the medical device company’s stock worth $144,000 after acquiring an additional 28,320 shares in the last quarter. Keybank National Association OH increased its holdings in Tandem Diabetes Care by 217.9% in the 1st quarter. Keybank National Association OH now owns 221,029 shares of the medical device company’s stock worth $265,000 after acquiring an additional 151,492 shares in the last quarter. Frontier Capital Management Co. LLC increased its holdings in Tandem Diabetes Care by 348.5% in the 1st quarter. Frontier Capital Management Co. LLC now owns 4,901,870 shares of the medical device company’s stock worth $5,882,000 after acquiring an additional 3,808,950 shares in the last quarter. Finally, Group One Trading L.P. purchased a new stake in Tandem Diabetes Care in the 1st quarter worth approximately $185,000. 36.71% of the stock is owned by institutional investors.
COPYRIGHT VIOLATION NOTICE: This article was first posted by BBNS and is the sole property of of BBNS. If you are viewing this article on another publication, it was stolen and reposted in violation of US and international copyright law. The original version of this article can be viewed at https://baseballnewssource.com/markets/tandem-diabetes-care-inc-tndm-trading-down-10-4/1589479.html.
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).
Receive News & Ratings for Tandem Diabetes Care Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tandem Diabetes Care Inc. and related companies with our FREE daily email newsletter.