Shares of Tandem Diabetes Care Inc (NASDAQ:TNDM) traded up 23.4% during trading on Tuesday . The company traded as high as $3.13 and last traded at $3.11. 1,351,300 shares were traded during mid-day trading, an increase of 232% from the average session volume of 407,060 shares. The stock had previously closed at $2.52.
A number of analysts recently commented on the stock. Zacks Investment Research upgraded shares of Tandem Diabetes Care from a “hold” rating to a “buy” rating and set a $2.75 target price for the company in a research note on Wednesday, December 6th. Robert W. Baird reissued a “hold” rating and set a $3.00 price target on shares of Tandem Diabetes Care in a research report on Sunday, November 19th. Piper Jaffray Companies reissued a “hold” rating and set a $15.00 price target on shares of Tandem Diabetes Care in a research report on Friday, October 6th. Finally, Wedbush reissued an “outperform” rating and set a $17.00 price target (down from $50.00) on shares of Tandem Diabetes Care in a research report on Tuesday, October 10th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $11.29.
The company has a quick ratio of 0.88, a current ratio of 1.90 and a debt-to-equity ratio of -2.70. The stock has a market capitalization of $28.94, a PE ratio of -0.15 and a beta of 0.17.
Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings results on Thursday, October 26th. The medical device company reported ($3.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($3.74) by $0.65. The business had revenue of $27.00 million for the quarter, compared to analysts’ expectations of $25.92 million. During the same period in the prior year, the business posted ($0.97) earnings per share. The business’s quarterly revenue was up 119.7% compared to the same quarter last year. equities analysts predict that Tandem Diabetes Care Inc will post -15.37 EPS for the current fiscal year.
In other Tandem Diabetes Care news, CEO Kim D. Blickenstaff purchased 285,700 shares of Tandem Diabetes Care stock in a transaction on Friday, October 13th. The stock was bought at an average cost of $3.50 per share, with a total value of $999,950.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 20.90% of the company’s stock.
Large investors have recently bought and sold shares of the company. Wedbush Securities Inc. increased its holdings in shares of Tandem Diabetes Care by 88.6% during the 3rd quarter. Wedbush Securities Inc. now owns 188,877 shares of the medical device company’s stock valued at $138,000 after purchasing an additional 88,709 shares in the last quarter. Keybank National Association OH increased its holdings in shares of Tandem Diabetes Care by 32.7% during the 2nd quarter. Keybank National Association OH now owns 293,206 shares of the medical device company’s stock valued at $235,000 after purchasing an additional 72,177 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Tandem Diabetes Care by 93.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 581,245 shares of the medical device company’s stock valued at $465,000 after purchasing an additional 280,551 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Tandem Diabetes Care by 2.7% during the 2nd quarter. Vanguard Group Inc. now owns 1,233,607 shares of the medical device company’s stock valued at $987,000 after purchasing an additional 32,991 shares in the last quarter.
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Tandem Diabetes Care Company Profile
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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