Shares of Tandem Diabetes Care Inc (NASDAQ:TNDM) traded down 8% on Wednesday . The company traded as low as $2.74 and last traded at $2.86. 2,308,700 shares traded hands during trading, an increase of 219% from the average session volume of 724,567 shares. The stock had previously closed at $3.11.

A number of analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Tandem Diabetes Care from a “hold” rating to a “buy” rating and set a $2.75 target price on the stock in a research note on Saturday, January 6th. Robert W. Baird restated a “hold” rating and set a $3.00 target price on shares of Tandem Diabetes Care in a research note on Sunday, November 19th. 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 note on Tuesday, October 10th. Finally, Piper Jaffray Companies restated a “hold” rating and set a $15.00 target price on shares of Tandem Diabetes Care in a research note on Friday, October 6th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $11.29.

The stock has a market cap of $33.90, 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.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings results on Thursday, October 26th. The medical device company reported ($3.09) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($3.74) by $0.65. The company had revenue of $27.00 million during the quarter, compared to analysts’ expectations of $25.92 million. The business’s revenue for the quarter was up 119.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.97) earnings per share. sell-side analysts forecast that Tandem Diabetes Care Inc will post -15.37 earnings per share for the current fiscal year.

Institutional investors have recently made changes to their positions in the business. Wedbush Securities Inc. increased its stake in 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 valued at $138,000 after purchasing an additional 88,709 shares during the last quarter. Keybank National Association OH increased its stake in 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 valued at $235,000 after purchasing an additional 72,177 shares during the last quarter. Russell Investments Group Ltd. increased its stake in 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 valued at $465,000 after purchasing an additional 280,551 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in 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 valued at $987,000 after purchasing an additional 32,991 shares during the last quarter.

WARNING: “Tandem Diabetes Care (TNDM) Shares Down 8%” was published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this article on another website, it was illegally stolen and reposted in violation of US & international copyright law. The legal version of this article can be viewed at https://www.thecerbatgem.com/2018/01/12/tandem-diabetes-care-tndm-shares-down-8.html.

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).

Receive News & Stock Ratings for Tandem Diabetes Care Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tandem Diabetes Care and related stocks with our FREE daily email newsletter.