Tandem Diabetes Care (TNDM) Sees Unusually-High Trading Volume

Tandem Diabetes Care Inc (NASDAQ:TNDM) saw strong trading volume on Monday . 1,335,557 shares changed hands during mid-day trading, an increase of 232% from the previous session’s volume of 402,477 shares.The stock last traded at $3.11 and had previously closed at $2.52.

Several equities analysts recently commented on the company. Zacks Investment Research upgraded Tandem Diabetes Care from a “hold” rating to a “buy” rating and set a $2.75 price objective on the stock in a research note on Wednesday, December 6th. Robert W. Baird reiterated a “hold” rating and issued a $3.00 price objective on shares of Tandem Diabetes Care in a research note on Sunday, November 19th. Piper Jaffray Companies reiterated a “hold” rating and issued a $15.00 price objective on shares of Tandem Diabetes Care in a research note on Friday, October 6th. Finally, Wedbush reissued an “outperform” rating and set a $17.00 target price (down previously from $50.00) on shares of Tandem Diabetes Care in a report on Tuesday, October 10th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Tandem Diabetes Care currently has an average rating of “Hold” and an average price target of $11.29.

The company has a debt-to-equity ratio of -2.70, a quick ratio of 0.88 and a current ratio of 1.90. The company has a market capitalization of $28.94, a price-to-earnings ratio of -0.15 and a beta of 0.17.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its earnings results on Thursday, October 26th. The medical device company reported ($3.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($3.74) by $0.65. The business had revenue of $27.00 million for the quarter, compared to the consensus estimate of $25.92 million. During the same period in the previous year, the firm earned ($0.97) EPS. The company’s revenue was up 119.7% compared to the same quarter last year. equities research analysts expect that Tandem Diabetes Care Inc will post -15.37 EPS for the current year.

In other news, CEO Kim D. Blickenstaff purchased 285,700 shares of the firm’s stock in a transaction dated Friday, October 13th. The shares were purchased at an average price of $3.50 per share, with a total value of $999,950.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 20.90% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Wedbush Securities Inc. increased 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 worth $138,000 after purchasing an additional 88,709 shares during the period. Keybank National Association OH increased 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 worth $235,000 after purchasing an additional 72,177 shares during the period. Russell Investments Group Ltd. increased 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 worth $465,000 after purchasing an additional 280,551 shares during the period. Finally, Vanguard Group Inc. increased 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 worth $987,000 after purchasing an additional 32,991 shares during the period.

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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).

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