Tandem Diabetes Care (NASDAQ:TNDM) hit a new 52-week high and low during mid-day trading on Friday . The company traded as low as $14.59 and last traded at $14.12, with a volume of 72604 shares changing hands. The stock had previously closed at $13.64.
TNDM has been the topic of a number of research analyst reports. ValuEngine raised shares of Tandem Diabetes Care from a “sell” rating to a “hold” rating in a report on Saturday, April 7th. Zacks Investment Research raised shares of Tandem Diabetes Care from a “hold” rating to a “buy” rating and set a $5.75 target price on the stock in a report on Thursday, April 5th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $4.00 target price on shares of Tandem Diabetes Care in a report on Friday, March 2nd. BidaskClub raised shares of Tandem Diabetes Care from a “buy” rating to a “strong-buy” rating in a report on Wednesday, April 11th. Finally, Robert W. Baird raised shares of Tandem Diabetes Care from a “neutral” rating to an “outperform” rating in a report on Friday, March 23rd. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Tandem Diabetes Care presently has an average rating of “Buy” and an average price target of $9.32.
The firm has a market cap of $688.43 million, a price-to-earnings ratio of -1.10 and a beta of -0.40. The company has a current ratio of 2.62, a quick ratio of 2.01 and a debt-to-equity ratio of 6.45.
Tandem Diabetes Care (NASDAQ:TNDM) last released its quarterly earnings results on Thursday, March 1st. The medical device company reported ($1.23) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.10) by ($0.13). The business had revenue of $40.00 million for the quarter, compared to analysts’ expectations of $38.41 million. The firm’s revenue for the quarter was up 61.3% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.48) earnings per share. equities analysts anticipate that Tandem Diabetes Care will post -1.45 EPS for the current year.
In related news, Director Dick Allen purchased 25,539 shares of the stock in a transaction on Tuesday, March 6th. The shares were purchased at an average cost of $3.88 per share, with a total value of $99,091.32. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 9.30% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in TNDM. First Light Asset Management LLC bought a new position in Tandem Diabetes Care in the 1st quarter valued at about $23,482,000. Federated Investors Inc. PA grew its position in shares of Tandem Diabetes Care by 714,273.3% during the 1st quarter. Federated Investors Inc. PA now owns 2,250,276 shares of the medical device company’s stock worth $11,161,000 after purchasing an additional 2,249,961 shares in the last quarter. Frontier Capital Management Co. LLC grew its position in shares of Tandem Diabetes Care by 475.8% during the 1st quarter. Frontier Capital Management Co. LLC now owns 2,720,937 shares of the medical device company’s stock worth $13,496,000 after purchasing an additional 2,248,382 shares in the last quarter. Acuta Capital Partners LLC acquired a new position in shares of Tandem Diabetes Care during the 1st quarter worth approximately $6,678,000. Finally, Millennium Management LLC acquired a new position in shares of Tandem Diabetes Care during the 1st quarter worth approximately $4,225,000. 47.09% of the stock is currently owned by hedge funds and other institutional investors.
About Tandem Diabetes Care
Tandem Diabetes Care, Inc is a medical device company, which designs, develops and commercializes products for people with insulin dependent diabetes. The company was founded by Paul M. DiPerna on January 27, 2006 and is headquartered in San Diego, CA.
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