Tandem Diabetes Care (TNDM) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research cut shares of Tandem Diabetes Care (NASDAQ:TNDM) from a buy rating to a hold rating in a report released on Wednesday morning.

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 research analysts also recently weighed in on the stock. Robert W. Baird reaffirmed a hold rating and issued a $3.00 price objective on shares of Tandem Diabetes Care in a report on Sunday, November 19th. Wedbush reaffirmed an outperform rating and issued a $17.00 price objective (down previously from $50.00) on shares of Tandem Diabetes Care in a report on Tuesday, October 10th. Finally, Piper Jaffray Companies reaffirmed a hold rating and issued a $15.00 price objective on shares of Tandem Diabetes Care in a report on Friday, October 6th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Tandem Diabetes Care has a consensus rating of Hold and a consensus target price of $11.29.

Tandem Diabetes Care (NASDAQ TNDM) traded down $0.03 during mid-day trading on Wednesday, reaching $2.48. 80,500 shares of the company traded hands, compared to its average volume of 200,707. Tandem Diabetes Care has a 1-year low of $2.15 and a 1-year high of $30.00. The company has a debt-to-equity ratio of -2.70, a current ratio of 1.90 and a quick ratio of 0.88.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings data 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. The business had revenue of $27.00 million during the quarter, compared to the consensus estimate of $25.92 million. Tandem Diabetes Care had a negative net margin of 79.45% and a negative return on equity of 1,177.11%. The company’s quarterly revenue was up 119.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.97) earnings per share. analysts anticipate that Tandem Diabetes Care will post -15.37 EPS for the current fiscal year.

In other Tandem Diabetes Care news, CEO Kim D. Blickenstaff purchased 285,700 shares of the business’s stock in a transaction on Friday, October 13th. The stock was bought at an average cost of $3.50 per share, with a total value of $999,950.00. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 20.90% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of TNDM. 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 valued at $1,032,000 after acquiring an additional 404,452 shares during the last quarter. 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 valued at $465,000 after acquiring an additional 280,551 shares during the last quarter. 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 valued at $235,000 after acquiring an additional 72,177 shares during the last quarter. 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 valued at $987,000 after acquiring an additional 32,991 shares during the last quarter. Finally, 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 valued at $138,000 after acquiring an additional 88,709 shares during the last quarter.

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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).

Analyst Recommendations for Tandem Diabetes Care (NASDAQ:TNDM)

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