Tandem Diabetes Care Inc (NASDAQ:TNDM)’s share price shot up 6.1% during mid-day trading on Monday after Lake Street Capital raised their price target on the stock from $35.00 to $65.00. Lake Street Capital currently has a buy rating on the stock. Tandem Diabetes Care traded as high as $36.23 and last traded at $35.96. 2,830,809 shares changed hands during mid-day trading, an increase of 33% from the average session volume of 2,136,285 shares. The stock had previously closed at $33.88.
A number of other equities analysts have also recently issued reports on the stock. Zacks Investment Research upgraded shares of Tandem Diabetes Care from a “sell” rating to a “hold” rating in a research note on Tuesday, August 14th. BidaskClub upgraded shares of Tandem Diabetes Care from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 7th. Oppenheimer set a $38.00 price objective on shares of Tandem Diabetes Care and gave the company a “buy” rating in a research note on Monday, August 6th. ValuEngine cut shares of Tandem Diabetes Care from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 2nd. Finally, Piper Jaffray Companies increased their price objective on shares of Tandem Diabetes Care to $32.00 and gave the company an “overweight” rating in a research note on Tuesday, July 31st. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $27.13.
In other news, Director Richard P. Valencia bought 1,754 shares of the stock in a transaction dated Friday, August 3rd. The shares were acquired at an average price of $28.50 per share, with a total value of $49,989.00. Following the acquisition, the director now owns 1,754 shares in the company, valued at $49,989. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 9.30% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. Legal & General Group Plc bought a new stake in shares of Tandem Diabetes Care in the 2nd quarter worth about $147,000. California Public Employees Retirement System bought a new stake in shares of Tandem Diabetes Care in the 2nd quarter worth about $249,000. State Board of Administration of Florida Retirement System bought a new stake in shares of Tandem Diabetes Care in the 2nd quarter worth about $300,000. First Manhattan Co. bought a new stake in shares of Tandem Diabetes Care in the 2nd quarter worth about $336,000. Finally, Voya Investment Management LLC bought a new stake in shares of Tandem Diabetes Care in the 2nd quarter worth about $386,000. 51.18% of the stock is currently owned by institutional investors and hedge funds.
The company has a debt-to-equity ratio of 2.97, a quick ratio of 2.43 and a current ratio of 3.02. The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of -2.79 and a beta of 0.02.
Tandem Diabetes Care (NASDAQ:TNDM) last posted its earnings results on Monday, July 30th. The medical device company reported ($1.17) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.35) by ($0.82). The firm had revenue of $34.10 million for the quarter, compared to analyst estimates of $29.68 million. During the same quarter last year, the firm posted ($0.44) earnings per share. The business’s revenue was up 60.1% compared to the same quarter last year. equities analysts predict that Tandem Diabetes Care Inc will post -1.48 earnings per share for the current year.
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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