Tandem Diabetes Care (NASDAQ:TNDM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.
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 brokerages have also weighed in on TNDM. ValuEngine upgraded Tandem Diabetes Care from a “sell” rating to a “hold” rating in a research note on Saturday. Oppenheimer set a $8.00 target price on Tandem Diabetes Care and gave the stock a “buy” rating in a research note on Friday. Cowen upgraded Tandem Diabetes Care from a “market perform” rating to an “outperform” rating in a research note on Wednesday, March 28th. Stifel Nicolaus restated a “hold” rating and set a $4.00 price objective on shares of Tandem Diabetes Care in a research note on Friday, March 2nd. Finally, Robert W. Baird upgraded Tandem Diabetes Care from a “neutral” rating to an “outperform” rating in a research note on Friday, March 23rd. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $9.81.
Shares of NASDAQ TNDM traded up $0.23 during trading hours on Friday, reaching $5.75. 2,360,514 shares of the stock were exchanged, compared to its average volume of 1,477,456. The firm has a market cap of $246.74, a P/E ratio of -0.45 and a beta of -0.32. The company has a current ratio of 1.78, a quick ratio of 1.03 and a debt-to-equity ratio of -2.63. Tandem Diabetes Care has a 52 week low of $2.14 and a 52 week high of $12.20.
Tandem Diabetes Care (NASDAQ:TNDM) last announced its earnings results on Thursday, March 1st. The medical device company reported ($1.23) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.10) by ($0.13). The firm had revenue of $40.00 million during the quarter, compared to the consensus estimate of $38.41 million. The company’s revenue for the quarter was up 61.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.48) EPS. analysts forecast that Tandem Diabetes Care will post -1.43 EPS for the current year.
In related news, Director Christopher J. Twomey acquired 75,000 shares of the stock in a transaction on Friday, February 9th. The shares were purchased at an average price of $2.00 per share, for a total transaction of $150,000.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Dick Allen acquired 25,539 shares of the stock in a transaction on Tuesday, March 6th. The shares were bought at an average price of $3.88 per share, for a total transaction of $99,091.32. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 850,539 shares of company stock worth $1,749,091. Corporate 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. raised its holdings in Tandem Diabetes Care (NASDAQ:TNDM) by 13.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor 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 6.52% of Tandem Diabetes Care worth $482,000 as of its most recent SEC filing. Institutional investors 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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