Tandem Diabetes Care (NASDAQ:TNDM) traded up 6.2% during mid-day trading on Monday . The stock traded as high as $7.59 and last traded at $7.55. 1,814,495 shares were traded during trading, an increase of 15% from the average session volume of 1,581,519 shares. The stock had previously closed at $7.11.
Several equities research analysts have issued reports on the company. BidaskClub raised Tandem Diabetes Care from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, April 11th. Zacks Investment Research cut Tandem Diabetes Care from a “buy” rating to a “hold” rating in a research note on Saturday, April 7th. ValuEngine upgraded Tandem Diabetes Care from a “sell” rating to a “hold” rating in a research report on Saturday, April 7th. Oppenheimer set a $8.00 price target on Tandem Diabetes Care and gave the stock a “buy” rating in a research report on Friday, April 6th. Finally, Cowen upgraded Tandem Diabetes Care from a “market perform” rating to an “outperform” rating in a research report on Wednesday, March 28th. Five analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Tandem Diabetes Care has an average rating of “Buy” and a consensus price target of $9.16.
The stock has a market capitalization of $337.48, a P/E ratio of -0.59 and a beta of -0.32. The company has a debt-to-equity ratio of -2.63, a current ratio of 1.78 and a quick ratio of 1.03.
Tandem Diabetes Care (NASDAQ:TNDM) last released its earnings results on Thursday, March 1st. The medical device company reported ($1.23) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.10) by ($0.13). The company had revenue of $40.00 million during the quarter, compared to analysts’ expectations 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 period in the previous year, the business posted ($0.48) EPS. analysts forecast that Tandem Diabetes Care will post -1.42 EPS for the current fiscal year.
In other Tandem Diabetes Care news, Director Christopher J. Twomey purchased 75,000 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was bought at an average cost of $2.00 per share, with a total value of $150,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Dick Allen purchased 25,539 shares of the firm’s stock in a transaction on Tuesday, March 6th. The shares were acquired at an average cost of $3.88 per share, with a total value of $99,091.32. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 850,539 shares of company stock valued at $1,749,091. 20.90% of the stock is currently owned by company insiders.
An institutional investor recently raised its position in Tandem Diabetes Care stock. Russell Investments Group Ltd. lifted its position in shares of Tandem Diabetes Care (NASDAQ:TNDM) by 13.5% during the third quarter, according to its most recent Form 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 period. Russell Investments Group Ltd. owned about 6.52% of Tandem Diabetes Care worth $482,000 at the end of the most recent reporting period. Institutional investors own 8.77% of the company’s stock.
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Tandem Diabetes Care Company Profile
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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