Tandem Diabetes Care Inc (NASDAQ:TNDM) gapped up prior to trading on Tuesday . The stock had previously closed at $44.58, but opened at $45.69. Tandem Diabetes Care shares last traded at $46.57, with a volume of 3169124 shares traded.
TNDM has been the topic of a number of recent analyst reports. Lake Street Capital initiated coverage on Tandem Diabetes Care in a research report on Monday, June 18th. They issued a “buy” rating and a $30.00 price objective on the stock. Oppenheimer set a $15.00 price objective on Tandem Diabetes Care and gave the stock a “buy” rating in a research report on Sunday, May 27th. BidaskClub downgraded Tandem Diabetes Care from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 31st. Cowen reiterated a “buy” rating and issued a $28.00 price objective on shares of Tandem Diabetes Care in a research report on Tuesday, July 31st. Finally, Robert W. Baird reiterated a “buy” rating and issued a $31.00 price objective on shares of Tandem Diabetes Care in a research report on Monday, July 23rd. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. Tandem Diabetes Care presently has an average rating of “Buy” and a consensus target price of $35.87.
The company has a debt-to-equity ratio of 2.97, a current ratio of 3.02 and a quick ratio of 2.43. The stock has a market capitalization of $2.43 billion, a PE ratio of -3.44 and a beta of 0.35.
Tandem Diabetes Care (NASDAQ:TNDM) last released its quarterly earnings results on Monday, July 30th. The medical device company reported ($1.17) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.35) by ($0.82). The business had revenue of $34.10 million during the quarter, compared to analyst estimates of $29.68 million. During the same quarter last year, the firm earned ($0.44) EPS. The firm’s quarterly revenue was up 60.1% on a year-over-year basis. analysts expect that Tandem Diabetes Care Inc will post -1.49 earnings per share for the current fiscal year.
In other news, Director Richard P. Valencia purchased 1,754 shares of the stock in a transaction on Friday, August 3rd. The shares were acquired at an average price of $28.50 per share, for a total transaction of $49,989.00. Following the completion of the transaction, the director now directly owns 1,754 shares of the company’s stock, valued at approximately $49,989. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 9.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TNDM. First Light Asset Management LLC purchased a new stake in Tandem Diabetes Care during the first quarter valued at about $23,482,000. BlackRock Inc. grew its stake in shares of Tandem Diabetes Care by 6,936.3% during the second quarter. BlackRock Inc. now owns 2,935,537 shares of the medical device company’s stock valued at $64,641,000 after buying an additional 2,893,817 shares during the last quarter. Federated Investors Inc. PA grew its stake in shares of Tandem Diabetes Care by 714,273.3% during the first quarter. Federated Investors Inc. PA now owns 2,250,276 shares of the medical device company’s stock valued at $11,161,000 after buying an additional 2,249,961 shares during the last quarter. Fred Alger Management Inc. grew its stake in shares of Tandem Diabetes Care by 9,750.9% during the second quarter. Fred Alger Management Inc. now owns 1,970,184 shares of the medical device company’s stock valued at $43,383,000 after buying an additional 1,950,184 shares during the last quarter. Finally, Orbimed Advisors LLC bought a new position in shares of Tandem Diabetes Care during the second quarter valued at about $37,192,000. Institutional investors and hedge funds own 62.77% of the company’s stock.
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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