Tandem Diabetes Care Inc. (TNDM) Trading Down 4.5%
Tandem Diabetes Care Inc. (NASDAQ:TNDM)’s share price fell 4.5% during mid-day trading on Thursday . The stock traded as low as $7.83 and last traded at $7.90, with a volume of 222,347 shares changing hands. The stock had previously closed at $8.27.
Several research firms have recently issued reports on TNDM. Zacks Investment Research upgraded shares of Tandem Diabetes Care from a “hold” rating to a “buy” rating and set a $9.25 price objective on the stock in a report on Wednesday, May 4th. Robert W. Baird reiterated a “buy” rating on shares of Tandem Diabetes Care in a report on Monday, May 2nd. Piper Jaffray Cos. reiterated a “buy” rating and issued a $12.00 price target on shares of Tandem Diabetes Care in a report on Thursday, April 21st. Sterne Agee CRT reiterated a “neutral” rating on shares of Tandem Diabetes Care in a report on Monday, May 16th. Finally, Wedbush reiterated an “outperform” rating and issued a $20.00 price target on shares of Tandem Diabetes Care in a report on Wednesday, June 15th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $14.21.
The company’s market cap is $239.77 million. The company has a 50 day moving average of $7.50 and a 200-day moving average of $8.33.
Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings data on Thursday, April 28th. The medical device company reported ($0.68) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.69) by $0.01. The company earned $20.06 million during the quarter, compared to analysts’ expectations of $17.67 million. During the same quarter in the previous year, the business posted ($0.83) EPS. The business’s quarterly revenue was up 63.0% compared to the same quarter last year. Equities research analysts forecast that Tandem Diabetes Care Inc. will post ($2.16) earnings per share for the current year.
An institutional investor recently raised its position in Tandem Diabetes Care stock. Westfield Capital Management Co. LP increased its stake in shares of Tandem Diabetes Care Inc. (NASDAQ:TNDM) by 3.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,125,281 shares of the medical device company’s stock after buying an additional 35,680 shares during the period. Westfield Capital Management Co. LP owned 3.74% of Tandem Diabetes Care worth $13,290,000 at the end of the most recent quarter.
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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