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 Thursday. The firm currently has a $5.75 price objective on the medical device company’s stock.
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. “
TNDM has been the subject of a number of other research reports. Oppenheimer assumed coverage on shares of Tandem Diabetes Care in a research report on Monday, February 26th. They issued a “buy” rating and a $6.00 target price for the company. Citigroup assumed coverage on shares of Tandem Diabetes Care in a research report on Tuesday, February 27th. They issued an “outperform” rating and a $5.50 target price for the company. Cowen reiterated 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 “sell” rating to a “strong sell” rating in a research report on Thursday, March 1st. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $4.00 target price on shares of Tandem Diabetes Care in a research report on Friday, March 2nd. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $9.81.
Shares of NASDAQ:TNDM opened at $5.75 on Thursday. The company has a debt-to-equity ratio of -2.63, a current ratio of 1.78 and a quick ratio of 1.03. The company has a market capitalization of $241.82, a P/E ratio of -0.45 and a beta of -0.32. 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 issued its quarterly earnings results on Thursday, March 1st. The medical device company reported ($1.23) EPS for the quarter, missing the Thomson Reuters’ consensus estimate 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 business’s quarterly revenue was up 61.3% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.48) EPS. research analysts expect that Tandem Diabetes Care will post -1.43 earnings per share for the current year.
In other Tandem Diabetes Care news, Director Dick Allen purchased 25,539 shares of the company’s stock in a transaction dated 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 purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Christopher J. Twomey purchased 75,000 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were acquired at an average price of $2.00 per share, for a total transaction of $150,000.00. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 850,539 shares of company stock valued at $1,749,091. 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. lifted its holdings in shares of Tandem Diabetes Care (NASDAQ:TNDM) by 13.5% during the 3rd quarter, according to the company in its most recent 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 quarter. Russell Investments Group Ltd. owned approximately 6.52% of Tandem Diabetes Care worth $482,000 as of its most recent SEC filing. Hedge funds and other 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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