Tandem Diabetes Care, Inc. (TNDM) Trading Down 10.4%

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.

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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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