Zacks Investment Research lowered shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) from a buy rating to a hold rating in a research note released on Thursday.
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 equities analysts have also issued reports on the company. Wedbush restated an outperform rating and set a $17.00 price target (down from $50.00) on shares of Tandem Diabetes Care in a research report on Tuesday, October 10th. Piper Jaffray Companies restated a hold rating and set a $15.00 price target on shares of Tandem Diabetes Care in a research report on Friday, October 6th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $12.95.
Tandem Diabetes Care (TNDM) traded down $0.11 on Thursday, reaching $2.24. The company had a trading volume of 725,591 shares, compared to its average volume of 1,138,282. The company has a debt-to-equity ratio of -2.70, a quick ratio of 0.88 and a current ratio of 1.90. Tandem Diabetes Care has a fifty-two week low of $2.15 and a fifty-two week high of $32.50.
Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings results on Thursday, October 26th. The medical device company reported ($3.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.74) by $0.65. Tandem Diabetes Care had a negative return on equity of 1,177.11% and a negative net margin of 79.45%. The business had revenue of $27.00 million for the quarter, compared to analyst estimates of $25.92 million. During the same period last year, the company earned ($0.97) EPS. Tandem Diabetes Care’s revenue for the quarter was up 119.7% compared to the same quarter last year. research analysts forecast that Tandem Diabetes Care will post -15.71 earnings per share for the current fiscal year.
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In other Tandem Diabetes Care news, CEO Kim D. Blickenstaff acquired 285,700 shares of the company’s stock in a transaction on Friday, October 13th. The stock was acquired at an average price of $3.50 per share, for a total transaction of $999,950.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 20.90% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. lifted its holdings in Tandem Diabetes Care by 93.3% in the 2nd quarter. Russell Investments Group Ltd. now owns 581,245 shares of the medical device company’s stock worth $465,000 after buying an additional 280,551 shares during the period. Bank of America Corp DE lifted its holdings in Tandem Diabetes Care by 88.6% in the 1st quarter. Bank of America Corp DE now owns 861,026 shares of the medical device company’s stock worth $1,032,000 after buying an additional 404,452 shares during the period. Keybank National Association OH lifted its holdings in Tandem Diabetes Care by 32.7% in 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. Wedbush Securities Inc. lifted its holdings in Tandem Diabetes Care by 88.6% in 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. Finally, Vanguard Group Inc. lifted its holdings in Tandem Diabetes Care by 2.7% in 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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