Tandem Diabetes Care (TNDM) Stock Rating Upgraded by Zacks Investment Research

Tandem Diabetes Care (NASDAQ:TNDM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The firm currently has a $2.75 price target on the medical device company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 6.59% from the stock’s previous close.

According to Zacks, “Tandem Diabetes Care, Inc. is a medical device company. The Company designs, develops, and commercializes products for people with insulin-dependent diabetes. Its products include t:slim Insulin Delivery System. Tandem Diabetes Care, Inc. is headquartered in San Diego, California. “

A number of other equities analysts have also recently issued reports on TNDM. Wedbush reissued an “outperform” rating and issued a $17.00 target price (down previously from $50.00) on shares of Tandem Diabetes Care in a report on Tuesday, October 10th. Robert W. Baird reissued a “hold” rating and issued a $3.00 target price on shares of Tandem Diabetes Care in a report on Sunday, November 19th. Finally, Piper Jaffray Companies reissued a “hold” rating and issued a $15.00 target price on shares of Tandem Diabetes Care in a report on Friday, October 6th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $11.29.

Tandem Diabetes Care (TNDM) opened at $2.58 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 1.90 and a debt-to-equity ratio of -2.70. Tandem Diabetes Care has a twelve month low of $2.15 and a twelve month high of $30.00.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its earnings results on Thursday, October 26th. The medical device company reported ($3.09) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($3.74) by $0.65. Tandem Diabetes Care had a negative net margin of 79.45% and a negative return on equity of 1,177.11%. The firm had revenue of $27.00 million for the quarter, compared to analysts’ expectations of $25.92 million. During the same quarter last year, the company posted ($0.97) earnings per share. Tandem Diabetes Care’s revenue was up 119.7% on a year-over-year basis. equities research analysts forecast that Tandem Diabetes Care will post -15.37 EPS for the current year.

In other Tandem Diabetes Care news, CEO Kim D. Blickenstaff purchased 285,700 shares of the business’s stock in a transaction dated Friday, October 13th. The shares were bought at an average price of $3.50 per share, with a total value of $999,950.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 20.90% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in TNDM. Bank of America Corp DE raised its holdings in shares of Tandem Diabetes Care by 88.6% during the first quarter. Bank of America Corp DE now owns 861,026 shares of the medical device company’s stock valued at $1,032,000 after buying an additional 404,452 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Tandem Diabetes Care by 93.3% during the second quarter. Russell Investments Group Ltd. now owns 581,245 shares of the medical device company’s stock valued at $465,000 after buying an additional 280,551 shares during the last quarter. Wedbush Securities Inc. raised its holdings in shares of Tandem Diabetes Care by 88.6% during the third quarter. Wedbush Securities Inc. now owns 188,877 shares of the medical device company’s stock valued at $138,000 after buying an additional 88,709 shares during the last quarter. Keybank National Association OH raised its holdings in shares of Tandem Diabetes Care by 32.7% during the second quarter. Keybank National Association OH now owns 293,206 shares of the medical device company’s stock valued at $235,000 after buying an additional 72,177 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Tandem Diabetes Care by 2.7% during the second quarter. Vanguard Group Inc. now owns 1,233,607 shares of the medical device company’s stock valued at $987,000 after buying an additional 32,991 shares during 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).

Analyst Recommendations for Tandem Diabetes Care (NASDAQ:TNDM)

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