Tandem Diabetes Care Inc (NASDAQ:TNDM) shot up 23.4% during mid-day trading on Tuesday . The company traded as high as $3.13 and last traded at $3.11. 1,351,300 shares traded hands during mid-day trading, an increase of 232% from the average session volume of 407,060 shares. The stock had previously closed at $2.52.
A number of brokerages have recently issued reports on TNDM. Zacks Investment Research raised shares of Tandem Diabetes Care from a “hold” rating to a “buy” rating and set a $2.75 target price for the company in a research report on Wednesday, December 6th. Robert W. Baird reaffirmed a “hold” rating and issued a $3.00 price target on shares of Tandem Diabetes Care in a research note on Sunday, November 19th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $15.00 price target on shares of Tandem Diabetes Care in a research note on Friday, October 6th. Finally, Wedbush reaffirmed an “outperform” rating and issued 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 three have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $11.29.
The stock has a market capitalization of $34.71, a P/E ratio of -0.17 and a beta of 0.17. The company has a current ratio of 1.90, a quick ratio of 0.88 and a debt-to-equity ratio of -2.70.
In related news, CEO Kim D. Blickenstaff purchased 285,700 shares of the company’s stock in a transaction that occurred on Friday, October 13th. The stock was acquired at an average price of $3.50 per share, with a total value of $999,950.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 20.90% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in Tandem Diabetes Care by 2.7% during the second quarter. Vanguard Group Inc. now owns 1,233,607 shares of the medical device company’s stock worth $987,000 after acquiring an additional 32,991 shares in the last quarter. Keybank National Association OH raised its stake in Tandem Diabetes Care by 32.7% during the second quarter. Keybank National Association OH now owns 293,206 shares of the medical device company’s stock worth $235,000 after acquiring an additional 72,177 shares in the last quarter. Russell Investments Group Ltd. raised its stake in Tandem Diabetes Care by 13.5% during the third quarter. Russell Investments Group Ltd. now owns 659,993 shares of the medical device company’s stock worth $482,000 after acquiring an additional 78,748 shares in the last quarter. Finally, Wedbush Securities Inc. raised its stake in Tandem Diabetes Care by 88.6% during the third quarter. Wedbush Securities Inc. now owns 188,877 shares of the medical device company’s stock worth $138,000 after acquiring an additional 88,709 shares in 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).
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