Tandem Diabetes Care (TNDM) Shares Up 6.2%

Shares of Tandem Diabetes Care (NASDAQ:TNDM) shot 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 traded hands during mid-day trading, an increase of 15% from the average session volume of 1,581,519 shares. The stock had previously closed at $7.11.

Several brokerages have issued reports on TNDM. Oppenheimer set a $8.00 price objective on shares of Tandem Diabetes Care and gave the stock a “buy” rating in a research note on Friday, April 6th. Zacks Investment Research downgraded shares of Tandem Diabetes Care from a “buy” rating to a “hold” rating in a research note on Saturday, April 7th. ValuEngine raised shares of Tandem Diabetes Care from a “sell” rating to a “hold” rating in a research note on Saturday, April 7th. BidaskClub raised shares of Tandem Diabetes Care from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, April 11th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $4.00 price target on shares of Tandem Diabetes Care in a research note on Friday, March 2nd. Five equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $9.16.

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The company has a current ratio of 1.78, a quick ratio of 1.03 and a debt-to-equity ratio of -2.63. The company has a market cap of $317.81, a price-to-earnings ratio of -0.59 and a beta of -0.35.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings results on Thursday, March 1st. The medical device company reported ($1.23) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.10) by ($0.13). The firm had revenue of $40.00 million for the quarter, compared to analysts’ expectations of $38.41 million. During the same period in the previous year, the company earned ($0.48) earnings per share. The business’s quarterly revenue was up 61.3% on a year-over-year basis. equities analysts predict that Tandem Diabetes Care will post -1.42 earnings per share for the current fiscal year.

In related news, CEO Kim D. Blickenstaff purchased 750,000 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was purchased at an average price of $2.00 per share, with a total value of $1,500,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dick Allen purchased 25,539 shares of the firm’s stock in a transaction dated Tuesday, March 6th. The shares were bought 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. Insiders have bought 850,539 shares of company stock valued at $1,749,091 in the last ninety days. 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. increased its holdings in Tandem Diabetes Care (NASDAQ:TNDM) by 13.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 659,993 shares of the medical device company’s stock after buying 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 filing with the Securities & Exchange Commission. 8.77% of the stock is currently owned by institutional investors and hedge funds.

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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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