Tandem Diabetes Care (NASDAQ:TNDM) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Tandem Diabetes Care (NASDAQ:TNDM) from a hold rating to a buy rating in a research report released on Wednesday, December 6th. They currently have $2.75 target price on the medical device company’s stock.

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 research analysts have also commented on TNDM. Wedbush restated an outperform rating and issued a $17.00 target price (down from $50.00) on shares of Tandem Diabetes Care in a research note on Tuesday, October 10th. Robert W. Baird restated a hold rating and issued a $3.00 target price on shares of Tandem Diabetes Care in a research note on Sunday, November 19th. Finally, Piper Jaffray Companies reiterated a hold rating and set a $15.00 price objective on shares of Tandem Diabetes Care in a research note on Friday, October 6th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $11.29.

Shares of Tandem Diabetes Care (TNDM) opened at $2.46 on Wednesday. Tandem Diabetes Care has a twelve month low of $2.15 and a twelve month high of $30.00. 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 (NASDAQ:TNDM) last announced its quarterly earnings results on Thursday, October 26th. The medical device company reported ($3.09) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($3.74) by $0.65. The business had revenue of $27.00 million during the quarter, compared to analysts’ expectations of $25.92 million. Tandem Diabetes Care had a negative return on equity of 1,177.11% and a negative net margin of 79.45%. The firm’s quarterly revenue was up 119.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.97) EPS. equities research analysts predict that Tandem Diabetes Care will post -15.37 earnings per share for the current year.

In related news, CEO Kim D. Blickenstaff bought 285,700 shares of Tandem Diabetes Care stock in a transaction on Friday, October 13th. The shares were purchased at an average price of $3.50 per share, for a total transaction of $999,950.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 20.90% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Wedbush Securities Inc. raised its position 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 worth $138,000 after purchasing an additional 88,709 shares during the period. Keybank National Association OH raised its position 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 worth $235,000 after purchasing an additional 72,177 shares during the period. Russell Investments Group Ltd. raised its position 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 worth $465,000 after purchasing an additional 280,551 shares during the period. Bank of America Corp DE raised its position 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 worth $1,032,000 after purchasing an additional 404,452 shares during the period. Finally, Vanguard Group Inc. raised its position 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 worth $987,000 after purchasing an additional 32,991 shares during the period.

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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).

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