Tandem Diabetes Care, Inc. (TNDM) Sees Large Volume Increase
Tandem Diabetes Care, Inc. (NASDAQ:TNDM) shares saw an uptick in trading volume on Friday . 2,155,740 shares traded hands during mid-day trading, an increase of 61% from the previous session’s volume of 1,339,390 shares.The stock last traded at $0.82 and had previously closed at $0.72.
Separately, Zacks Investment Research raised shares of Tandem Diabetes Care from a “hold” rating to a “buy” rating and set a $0.75 price objective for the company in a research note on Thursday, September 28th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $4.46.
The company has a 50-day moving average price of $0.68 and a 200-day moving average price of $0.82. The stock’s market capitalization is $41.19 million.
Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings data on Thursday, July 27th. The medical device company reported ($0.44) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.48) by $0.04. Tandem Diabetes Care had a negative net margin of 110.70% and a negative return on equity of 1,177.11%. The company had revenue of $21.30 million during the quarter, compared to the consensus estimate of $21.74 million. During the same quarter in the prior year, the firm earned ($0.60) earnings per share. The firm’s revenue was down 7.4% compared to the same quarter last year. On average, equities research analysts forecast that Tandem Diabetes Care, Inc. will post ($1.79) earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings 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 purchasing an additional 32,991 shares during the last quarter. Bank of America Corp DE boosted its holdings in Tandem Diabetes Care by 88.6% during the first quarter. Bank of America Corp DE now owns 861,026 shares of the medical device company’s stock worth $1,032,000 after purchasing an additional 404,452 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in Tandem Diabetes Care by 93.3% during 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 last quarter. Paulson & CO. Inc. acquired a new position in Tandem Diabetes Care during the first quarter worth $600,000. Finally, Keybank National Association OH boosted its holdings 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 purchasing an additional 72,177 shares during the last quarter. Institutional investors and hedge funds own 36.64% 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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