Tandem Diabetes Care, Inc. (TNDM) Trading Up 5.4%
Tandem Diabetes Care, Inc. (NASDAQ:TNDM) was up 5.4% during trading on Friday . The stock traded as high as $2.66 and last traded at $2.53. Approximately 1,392,613 shares changed hands during trading, a decline of 7% from the average daily volume of 1,490,980 shares. The stock had previously closed at $2.40.
Several equities research analysts have commented on TNDM shares. Piper Jaffray Companies restated a “hold” rating and set a $15.00 target price on shares of Tandem Diabetes Care in a research report on Friday, October 6th. Zacks Investment Research lowered shares of Tandem Diabetes Care from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Finally, Wedbush restated an “outperform” rating and set a $17.00 target price (down from $50.00) on shares of Tandem Diabetes Care in a research report on Tuesday, October 10th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $29.31.
The stock’s market capitalization is $127.08 million. The stock has a 50-day moving average of $5.75 and a 200-day moving average of $7.45.
Tandem Diabetes Care (NASDAQ:TNDM) last announced its earnings results on Thursday, July 27th. The medical device company reported ($4.40) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($4.80) by $0.40. Tandem Diabetes Care had a negative return on equity of 1,177.11% and a negative net margin of 110.70%. The business had revenue of $21.30 million during the quarter, compared to analysts’ expectations of $21.74 million. During the same quarter last year, the business posted ($6.00) earnings per share. The company’s quarterly revenue was down 7.4% on a year-over-year basis. On average, analysts forecast that Tandem Diabetes Care, Inc. will post ($17.06) earnings per share for the current fiscal year.
In other news, CEO Kim D. Blickenstaff bought 285,700 shares of the firm’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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 20.90% of the company’s stock.
A number of hedge funds have recently made changes to their positions in TNDM. Bank of America Corp DE boosted its stake 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 valued at $1,032,000 after buying an additional 404,452 shares in the last quarter. Russell Investments Group Ltd. bought a new position in Tandem Diabetes Care during the first quarter valued at about $360,000. Keybank National Association OH boosted 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 valued at $235,000 after buying an additional 72,177 shares in the last quarter. Finally, Vanguard Group Inc. boosted 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 valued at $987,000 after buying an additional 32,991 shares in the last quarter.
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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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