Tandem Diabetes Care Inc (NASDAQ:TNDM) was the target of a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 1,103,935 shares, a growth of 48.9% from the February 15th total of 741,553 shares. Based on an average trading volume of 1,750,166 shares, the short-interest ratio is currently 0.6 days. Currently, 6.1% of the company’s shares are short sold.
In other news, Director Dick Allen purchased 25,539 shares of the stock in a transaction on Tuesday, March 6th. The stock was bought at an average price of $3.88 per share, for a total transaction of $99,091.32. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Kim D. Blickenstaff bought 750,000 shares of the stock in a transaction dated Friday, February 9th. The stock was bought at an average price of $2.00 per share, with a total value of $1,500,000.00. The disclosure for this purchase can be found here. Insiders bought a total of 850,539 shares of company stock worth $1,749,091 over the last three months. Insiders own 20.90% of the company’s stock.
A hedge fund recently raised its stake in Tandem Diabetes Care stock. Russell Investments Group Ltd. boosted its holdings in Tandem Diabetes Care Inc (NASDAQ:TNDM) by 13.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 659,993 shares of the medical device company’s stock after purchasing an additional 78,748 shares during the quarter. Russell Investments Group Ltd. owned approximately 6.52% of Tandem Diabetes Care worth $482,000 at the end of the most recent quarter. 8.74% of the stock is owned by institutional investors and hedge funds.
Shares of Tandem Diabetes Care stock opened at $3.70 on Thursday. The company has a debt-to-equity ratio of -2.63, a quick ratio of 1.03 and a current ratio of 1.78. The stock has a market cap of $171.65, a P/E ratio of -0.23 and a beta of 0.20. Tandem Diabetes Care has a 12 month low of $2.14 and a 12 month high of $16.50.
Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings results on Thursday, March 1st. The medical device company reported ($1.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.10) by ($0.13). The company had revenue of $40.00 million for the quarter, compared to analyst estimates of $38.41 million. The company’s revenue was up 61.3% on a year-over-year basis. During the same period in the previous year, the business posted ($0.48) EPS. sell-side analysts forecast that Tandem Diabetes Care will post -1.43 EPS for the current fiscal year.
A number of brokerages recently weighed in on TNDM. Zacks Investment Research upgraded shares of Tandem Diabetes Care from a “hold” rating to a “buy” rating and set a $2.75 price target for the company in a research note on Wednesday, December 6th. Stifel Nicolaus restated a “hold” rating and set a $4.00 price objective on shares of Tandem Diabetes Care in a research report on Friday, March 2nd. Cowen restated a “hold” rating on shares of Tandem Diabetes Care in a research report on Tuesday, February 27th. ValuEngine downgraded shares of Tandem Diabetes Care from a “hold” rating to a “sell” rating in a report on Wednesday, March 7th. Finally, Citigroup began coverage on shares of Tandem Diabetes Care in a research note on Tuesday, February 27th. They issued an “outperform” rating and a $5.50 price objective on the stock. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $9.25.
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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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