Tandem Diabetes Care (NASDAQ:TNDM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Friday, January 5th.
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. “
Other analysts have also issued reports about the stock. Piper Jaffray Companies reaffirmed a “hold” rating and set 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 objective on shares of Tandem Diabetes Care in a research report on Sunday, November 19th. Finally, Wedbush restated an “outperform” rating and issued a $17.00 price target (down from $50.00) on shares of Tandem Diabetes Care in a research note 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 company currently has an average rating of “Hold” and an average target price of $11.29.
Tandem Diabetes Care (TNDM) opened at $3.24 on Friday. The stock has a market cap of $33.90, a P/E ratio of -0.16 and a beta of 0.17. Tandem Diabetes Care has a 1-year low of $2.15 and a 1-year high of $30.00. The company has a debt-to-equity ratio of -2.70, a quick ratio of 0.88 and a current ratio of 1.90.
Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings data on Thursday, October 26th. The medical device company reported ($3.09) EPS for the quarter, topping the Zacks’ consensus estimate of ($3.74) by $0.65. The business had revenue of $27.00 million during the quarter, compared to the consensus estimate of $25.92 million. During the same period in the prior year, the firm earned ($0.97) EPS. The business’s revenue for the quarter was up 119.7% compared to the same quarter last year. equities analysts forecast that Tandem Diabetes Care will post -15.37 EPS for the current year.
Hedge funds have recently bought and sold shares of the company. Russell Investments Group Ltd. raised its holdings in Tandem Diabetes Care by 93.3% in the 2nd quarter. Russell Investments Group Ltd. now owns 581,245 shares of the medical device company’s stock valued at $465,000 after buying an additional 280,551 shares during the last quarter. Keybank National Association OH raised its holdings in Tandem Diabetes Care by 32.7% in the 2nd 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 during the last quarter. Wedbush Securities Inc. raised its holdings in Tandem Diabetes Care by 88.6% in the 3rd quarter. Wedbush Securities Inc. now owns 188,877 shares of the medical device company’s stock valued at $138,000 after buying an additional 88,709 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in 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 worth $987,000 after purchasing an additional 32,991 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).
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