Oppenheimer set a $8.00 price target on Tandem Diabetes Care (NASDAQ:TNDM) in a research note published on Friday. The firm currently has a buy rating on the medical device company’s stock.
A number of other equities research analysts also recently weighed in on TNDM. Zacks Investment Research downgraded Tandem Diabetes Care from a buy rating to a hold rating in a report on Wednesday, December 13th. Citigroup started coverage on Tandem Diabetes Care in a report on Tuesday, February 27th. They issued an outperform rating and a $5.50 price target for the company. Cowen restated a hold rating on shares of Tandem Diabetes Care in a research note on Tuesday, February 27th. ValuEngine downgraded Tandem Diabetes Care from a sell rating to a strong sell rating in a research note on Thursday, March 1st. Finally, Stifel Nicolaus reiterated a hold rating and set a $4.00 price target on shares of Tandem Diabetes Care in a research report on Friday, March 2nd. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Tandem Diabetes Care presently has an average rating of Buy and an average target price of $9.81.
TNDM stock traded up $0.23 during midday trading on Friday, hitting $5.75. 2,360,514 shares of the company’s stock were exchanged, compared to its average volume of 1,477,456. The company has a quick ratio of 1.03, a current ratio of 1.78 and a debt-to-equity ratio of -2.63. Tandem Diabetes Care has a 12-month low of $2.14 and a 12-month high of $12.20. The company has a market capitalization of $246.74, a PE ratio of -0.45 and a beta of -0.32.
Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings data on Thursday, March 1st. The medical device company reported ($1.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.10) by ($0.13). The business had revenue of $40.00 million during the quarter, compared to the consensus estimate of $38.41 million. During the same quarter in the previous year, the company earned ($0.48) EPS. The firm’s revenue was up 61.3% compared to the same quarter last year. sell-side analysts anticipate that Tandem Diabetes Care will post -1.43 EPS for the current year.
In other news, Director Christopher J. Twomey acquired 75,000 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was acquired at an average price of $2.00 per share, for a total transaction of $150,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dick Allen acquired 25,539 shares of the business’s stock in a transaction dated Tuesday, March 6th. The stock was purchased at an average price of $3.88 per share, with a total value of $99,091.32. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 850,539 shares of company stock valued at $1,749,091. Insiders own 20.90% of the company’s stock.
An institutional investor recently raised its position in Tandem Diabetes Care stock. Russell Investments Group Ltd. grew its stake in shares of Tandem Diabetes Care (NASDAQ:TNDM) by 13.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 659,993 shares of the medical device company’s stock after purchasing an additional 78,748 shares during the period. Russell Investments Group Ltd. owned about 6.52% of Tandem Diabetes Care worth $482,000 as of its most recent SEC filing. Institutional investors and hedge funds own 8.74% of the company’s stock.
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About Tandem Diabetes Care
Tandem Diabetes Care, Inc, a medical device company, designs, develops, and commercializes various products for people with insulin-dependent diabetes in the United States. The company's flagship product is the t:slim X2 insulin delivery system that comprises t:slim X2 pump, its 300-unit disposable insulin cartridge, and an infusion set.
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