Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) were up 18.9% during mid-day trading on Friday . The stock traded as high as $0.63 and last traded at $0.63. Approximately 1,275,958 shares changed hands during mid-day trading, an increase of 0% from the average daily volume of 1,271,940 shares. The stock had previously closed at $0.53.

Separately, Zacks Investment Research lowered Tandem Diabetes Care from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $4.71.

The company’s market capitalization is $31.64 million. The firm’s 50 day moving average price is $0.62 and its 200-day moving average price is $0.97.

Tandem Diabetes Care (NASDAQ:TNDM) last released its quarterly earnings data on Thursday, July 27th. The medical device company reported ($0.44) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.48) by $0.04. The business had revenue of $21.30 million for the quarter, compared to the consensus estimate of $21.74 million. Tandem Diabetes Care had a negative return on equity of 1,177.11% and a negative net margin of 110.70%. The company’s revenue was down 7.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.60) EPS. On average, equities research analysts forecast that Tandem Diabetes Care, Inc. will post ($1.79) EPS for the current year.

Institutional investors have recently made changes to their positions in the company. Keybank National Association OH boosted its holdings in shares of Tandem Diabetes Care by 217.9% in the 1st quarter. Keybank National Association OH now owns 221,029 shares of the medical device company’s stock worth $265,000 after purchasing an additional 151,492 shares during the period. Paulson & CO. Inc. purchased a new position in shares of Tandem Diabetes Care in the 1st quarter worth approximately $600,000. Iguana Healthcare Management LLC boosted its holdings in shares of Tandem Diabetes Care by 33.3% in the 1st quarter. Iguana Healthcare Management LLC now owns 100,000 shares of the medical device company’s stock worth $120,000 after purchasing an additional 25,000 shares during the period. Frontier Capital Management Co. LLC boosted its holdings in shares of Tandem Diabetes Care by 348.5% in the 1st quarter. Frontier Capital Management Co. LLC now owns 4,901,870 shares of the medical device company’s stock worth $5,882,000 after purchasing an additional 3,808,950 shares during the period. Finally, Group One Trading L.P. purchased a new position in shares of Tandem Diabetes Care in the 1st quarter worth approximately $185,000. Hedge funds and other institutional investors own 36.71% of the company’s stock.

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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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