Tandem Diabetes Care Inc (NASDAQ:TNDM) saw a significant growth in short interest in February. As of February 28th, there was short interest totalling 1,103,935 shares, a growth of 48.9% from the February 15th total of 741,553 shares. Based on an average daily trading volume, of 1,750,166 shares, the short-interest ratio is currently 0.6 days. Currently, 6.1% of the shares of the company are short sold.
A number of equities analysts recently weighed in on the stock. ValuEngine lowered shares of Tandem Diabetes Care from a “hold” rating to a “sell” rating in a research report on Wednesday, March 7th. Stifel Nicolaus restated a “hold” rating and set a $4.00 price target on shares of Tandem Diabetes Care in a research report on Friday, March 2nd. Zacks Investment Research upgraded shares of Tandem Diabetes Care from a “sell” rating to a “hold” rating in a report on Wednesday, March 7th. Cowen reiterated a “hold” rating on shares of Tandem Diabetes Care in a report on Tuesday, February 27th. Finally, Citigroup initiated coverage on shares of Tandem Diabetes Care in a report on Tuesday, February 27th. They issued an “outperform” rating and a $5.50 target price on the stock. One analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. Tandem Diabetes Care has a consensus rating of “Hold” and a consensus price target of $9.25.
Shares of Tandem Diabetes Care (TNDM) opened at $3.84 on Tuesday. Tandem Diabetes Care has a 52 week low of $2.14 and a 52 week high of $21.00. The firm has a market cap of $180.59, a P/E ratio of -0.24 and a beta of 0.20. The company has a current ratio of 1.78, a quick ratio of 1.03 and a debt-to-equity ratio of -2.63.
Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings data on Thursday, March 1st. The medical device company reported ($1.23) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.10) by ($0.13). The business had revenue of $40.00 million for the quarter, compared to the consensus estimate of $38.41 million. During the same quarter in the previous year, the company posted ($0.48) earnings per share. The company’s revenue was up 61.3% on a year-over-year basis. analysts predict that Tandem Diabetes Care will post -1.43 earnings per share for the current year.
In related news, Director Dick Allen bought 25,539 shares of the business’s stock in a transaction dated Tuesday, March 6th. The stock was acquired at an average price of $3.88 per share, with a total value of $99,091.32. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Christopher J. Twomey bought 75,000 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were bought at an average cost of $2.00 per share, with a total value of $150,000.00. The disclosure for this purchase can be found here. Insiders acquired 850,539 shares of company stock valued at $1,749,091 in the last ninety days. 20.90% of the stock is owned by corporate insiders.
A hedge fund recently raised its stake in Tandem Diabetes Care stock. Russell Investments Group Ltd. grew its stake in Tandem Diabetes Care Inc (NASDAQ:TNDM) by 13.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 659,993 shares of the medical device company’s stock after buying an additional 78,748 shares during the period. Russell Investments Group Ltd. owned 6.52% of Tandem Diabetes Care worth $482,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 8.74% of the company’s stock.
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About Tandem Diabetes Care
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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