Zacks Investment Research lowered shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) from a buy rating to a hold rating in a report issued on Tuesday, October 17th.
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. “
Several other research analysts have also commented on TNDM. Piper Jaffray Companies restated a hold rating and set a $15.00 price target on shares of Tandem Diabetes Care in a research note on Friday, October 6th. Wedbush restated an outperform rating and set a $17.00 price target (down previously from $50.00) on shares of Tandem Diabetes Care in a research note on Tuesday, October 10th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $12.95.
Tandem Diabetes Care (NASDAQ:TNDM) traded up $0.05 on Tuesday, reaching $2.29. The company’s stock had a trading volume of 303,629 shares, compared to its average volume of 1,163,862. The company has a current ratio of 1.90, a quick ratio of 0.88 and a debt-to-equity ratio of -2.70. Tandem Diabetes Care has a one year low of $2.15 and a one year high of $32.50.
Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings results on Thursday, October 26th. The medical device company reported ($3.09) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($3.74) by $0.65. Tandem Diabetes Care had a negative net margin of 79.45% and a negative return on equity of 1,177.11%. The company had revenue of $27.00 million for the quarter, compared to analyst estimates of $25.92 million. During the same quarter in the prior year, the business posted ($0.97) EPS. Tandem Diabetes Care’s quarterly revenue was up 119.7% on a year-over-year basis. equities research analysts forecast that Tandem Diabetes Care will post -15.71 EPS for the current fiscal year.
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In other news, CEO Kim D. Blickenstaff acquired 285,700 shares of the firm’s stock in a transaction that occurred on Friday, October 13th. The stock was acquired at an average cost of $3.50 per share, with a total value of $999,950.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 20.90% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Iguana Healthcare Management LLC boosted its holdings in shares of Tandem Diabetes Care by 33.3% during the 1st quarter. Iguana Healthcare Management LLC now owns 100,000 shares of the medical device company’s stock worth $120,000 after buying an additional 25,000 shares during the period. Wedbush Securities Inc. boosted its holdings in shares of Tandem Diabetes Care by 88.6% during the 3rd quarter. Wedbush Securities Inc. now owns 188,877 shares of the medical device company’s stock worth $138,000 after buying an additional 88,709 shares during the period. Keybank National Association OH boosted its holdings in shares of Tandem Diabetes Care by 32.7% during the 2nd quarter. Keybank National Association OH now owns 293,206 shares of the medical device company’s stock worth $235,000 after buying an additional 72,177 shares during the period. Russell Investments Group Ltd. bought a new stake in shares of Tandem Diabetes Care during the 1st quarter worth $360,000. Finally, Vanguard Group Inc. boosted its holdings in shares of Tandem Diabetes Care by 2.7% during the 2nd quarter. Vanguard Group Inc. now owns 1,233,607 shares of the medical device company’s stock worth $987,000 after buying an additional 32,991 shares during the period.
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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