Tandem Diabetes Care Inc (NASDAQ:TNDM) was down 6.4% during trading on Friday . The company traded as low as $35.51 and last traded at $36.12. Approximately 1,941,384 shares changed hands during mid-day trading, a decline of 22% from the average daily volume of 2,489,668 shares. The stock had previously closed at $38.59.
A number of equities research analysts have commented on TNDM shares. Oppenheimer set a $31.00 target price on Tandem Diabetes Care and gave the company a “buy” rating in a research report on Tuesday, July 31st. BidaskClub downgraded Tandem Diabetes Care from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 31st. Lake Street Capital lifted their target price on Tandem Diabetes Care to $35.00 and gave the company a “buy” rating in a research report on Tuesday, July 31st. Cowen reaffirmed a “buy” rating and issued a $28.00 price objective on shares of Tandem Diabetes Care in a research note on Tuesday, July 31st. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $31.00 price objective on shares of Tandem Diabetes Care in a research note on Monday, July 23rd. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. Tandem Diabetes Care presently has an average rating of “Buy” and a consensus target price of $43.73.
The company has a quick ratio of 2.43, a current ratio of 3.02 and a debt-to-equity ratio of 2.97. The company has a market cap of $2.14 billion, a price-to-earnings ratio of -2.81 and a beta of 0.36.
In other news, Director Richard P. Valencia acquired 1,754 shares of the company’s stock in a transaction dated Friday, August 3rd. The stock was acquired at an average cost of $28.50 per share, with a total value of $49,989.00. Following the completion of the purchase, the director now owns 1,754 shares of the company’s stock, valued at approximately $49,989. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 9.30% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Legal & General Group Plc acquired a new position in Tandem Diabetes Care during the 2nd quarter worth $147,000. Element Capital Management LLC acquired a new position in Tandem Diabetes Care during the 1st quarter worth $184,000. A.R.T. Advisors LLC grew its stake in Tandem Diabetes Care by 284.4% during the 1st quarter. A.R.T. Advisors LLC now owns 38,518 shares of the medical device company’s stock worth $191,000 after purchasing an additional 28,499 shares in the last quarter. Fox Run Management L.L.C. acquired a new position in Tandem Diabetes Care during the 3rd quarter worth $203,000. Finally, Barclays PLC grew its stake in Tandem Diabetes Care by 75.7% during the 1st quarter. Barclays PLC now owns 47,100 shares of the medical device company’s stock worth $234,000 after purchasing an additional 20,300 shares in the last quarter. 62.89% of the stock is owned by institutional investors and hedge funds.
Tandem Diabetes Care Company Profile (NASDAQ:TNDM)
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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