Tandem Diabetes Care (TNDM) Stock Rating Upgraded by Zacks Investment Research

Tandem Diabetes Care (NASDAQ:TNDM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The firm currently has a $2.75 target price on the medical device company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 14.58% from the company’s current price.

According to Zacks, “Tandem Diabetes Care, Inc. is a medical device company. The Company designs, develops, and commercializes products for people with insulin-dependent diabetes. Its products include t:slim Insulin Delivery System. Tandem Diabetes Care, Inc. is headquartered in San Diego, California. “

A number of other research firms have also commented on TNDM. Piper Jaffray Companies reissued a “hold” rating and issued a $15.00 price target on shares of Tandem Diabetes Care in a research report on Friday, October 6th. Robert W. Baird reissued a “hold” rating and issued a $3.00 price target on shares of Tandem Diabetes Care in a research report on Sunday, November 19th. Finally, Wedbush reissued an “outperform” rating and issued a $17.00 price target (down from $50.00) on shares of Tandem Diabetes Care in a research report on Tuesday, October 10th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $11.29.

Tandem Diabetes Care (TNDM) traded down $0.10 during midday trading on Wednesday, reaching $2.40. The company had a trading volume of 287,900 shares, compared to its average volume of 200,990. Tandem Diabetes Care has a twelve month low of $2.15 and a twelve month high of $30.00. The company has a quick ratio of 0.88, a current ratio of 1.90 and a debt-to-equity ratio of -2.70.

Tandem Diabetes Care (NASDAQ:TNDM) last released its quarterly earnings results on Thursday, October 26th. The medical device company reported ($3.09) EPS for the quarter, beating analysts’ consensus estimates of ($3.74) by $0.65. The business had revenue of $27.00 million during the quarter, compared to analyst estimates of $25.92 million. Tandem Diabetes Care had a negative return on equity of 1,177.11% and a negative net margin of 79.45%. Tandem Diabetes Care’s quarterly revenue was up 119.7% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.97) EPS. equities analysts expect that Tandem Diabetes Care will post -15.37 EPS for the current year.

In other Tandem Diabetes Care news, CEO Kim D. Blickenstaff bought 285,700 shares of the firm’s stock in a transaction dated Friday, October 13th. The stock was purchased at an average cost of $3.50 per share, with a total value of $999,950.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 20.90% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Tandem Diabetes Care by 2.7% during the 2nd 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. Keybank National Association OH increased its position in shares of Tandem Diabetes Care by 32.7% during the 2nd 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 position in shares of Tandem Diabetes Care by 13.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 659,993 shares of the medical device company’s stock valued at $482,000 after purchasing an additional 78,748 shares during the last quarter. Wedbush Securities Inc. increased its position in shares of Tandem Diabetes Care by 88.6% during the 3rd 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. Finally, Bank of America Corp DE increased its position in shares of Tandem Diabetes Care by 88.6% during the 1st quarter. Bank of America Corp DE now owns 861,026 shares of the medical device company’s stock valued at $1,032,000 after purchasing an additional 404,452 shares during 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).

Analyst Recommendations for Tandem Diabetes Care (NASDAQ:TNDM)

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