Tandem Diabetes Care, Inc. (TNDM) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) from a hold rating to a buy rating in a research report report published on Wednesday morning. Zacks Investment Research currently has $2.75 price objective on the medical device company’s stock.

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 analysts also recently weighed in on TNDM. Piper Jaffray Companies reiterated 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 reiterated an outperform rating and set a $17.00 target price (down from $50.00) on shares of Tandem Diabetes Care in a research report on Tuesday, October 10th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $12.95.

Tandem Diabetes Care (TNDM) traded down $0.11 during trading hours on Wednesday, hitting $2.24. The stock had a trading volume of 725,591 shares, compared to its average volume of 1,138,282. Tandem Diabetes Care has a fifty-two week low of $2.15 and a fifty-two week high of $32.50. The company has a quick ratio of 0.88, a current ratio of 1.90 and a debt-to-equity ratio of -2.70.

Tandem Diabetes Care (NASDAQ:TNDM) last released its earnings results on Thursday, October 26th. The medical device company reported ($3.09) earnings per share 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 during the quarter, compared to the consensus estimate of $25.92 million. During the same period last year, the company earned ($0.97) earnings per share. The business’s revenue for the quarter was up 119.7% compared to the same quarter last year. sell-side analysts anticipate that Tandem Diabetes Care will post -15.71 earnings per share for the current 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 purchased at an average cost of $3.50 per share, for a total transaction of $999,950.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 20.90% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. raised its holdings in shares of Tandem Diabetes Care by 93.3% in the second quarter. Russell Investments Group Ltd. now owns 581,245 shares of the medical device company’s stock valued at $465,000 after acquiring an additional 280,551 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Tandem Diabetes Care by 88.6% in the first quarter. Bank of America Corp DE now owns 861,026 shares of the medical device company’s stock valued at $1,032,000 after acquiring an additional 404,452 shares in the last quarter. Keybank National Association OH raised its holdings in shares of Tandem Diabetes Care by 32.7% in the second quarter. Keybank National Association OH now owns 293,206 shares of the medical device company’s stock valued at $235,000 after acquiring an additional 72,177 shares in the last quarter. Wedbush Securities Inc. raised its holdings in shares of Tandem Diabetes Care by 88.6% in the third quarter. Wedbush Securities Inc. now owns 188,877 shares of the medical device company’s stock valued at $138,000 after acquiring an additional 88,709 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Tandem Diabetes Care by 2.7% in the second quarter. Vanguard Group Inc. now owns 1,233,607 shares of the medical device company’s stock valued at $987,000 after acquiring an additional 32,991 shares in the last quarter.

Tandem Diabetes Care Company Profile

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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