Tandem Diabetes Care Inc. (TNDM) Trading Down 13.9%
Shares of Tandem Diabetes Care Inc. (NASDAQ:TNDM) were down 13.9% on Friday . The stock traded as low as $6.62 and last traded at $6.70, with a volume of 437,868 shares changing hands. The stock had previously closed at $7.78.
Several equities analysts have commented on the stock. Wedbush restated an “outperform” rating and issued a $20.00 price target on shares of Tandem Diabetes Care in a research note on Friday. Sterne Agee CRT restated a “neutral” rating on shares of Tandem Diabetes Care in a research note on Monday, May 16th. Zacks Investment Research upgraded shares of Tandem Diabetes Care from a “hold” rating to a “buy” rating and set a $8.25 price target for the company in a research note on Wednesday, July 6th. Piper Jaffray Cos. restated a “buy” rating and issued a $12.00 price target on shares of Tandem Diabetes Care in a research note on Thursday, April 21st. Finally, Robert W. Baird restated a “buy” rating on shares of Tandem Diabetes Care in a research note on Monday, May 2nd. 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 company’s stock. Tandem Diabetes Care currently has an average rating of “Buy” and a consensus price target of $14.21.
The stock has a 50 day moving average of $7.53 and a 200-day moving average of $8.19. The stock’s market capitalization is $202.96 million.
Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings data on Thursday, July 28th. The medical device company reported ($0.60) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.65) by $0.05. The firm had revenue of $23 million for the quarter, compared to analysts’ expectations of $23.08 million. During the same period in the previous year, the company posted ($0.65) EPS. The business’s quarterly revenue was up 46.5% on a year-over-year basis. Equities analysts anticipate that Tandem Diabetes Care Inc. will post ($2.16) earnings per share for the current year.
A hedge fund recently raised its stake in Tandem Diabetes Care stock. Westfield Capital Management Co. LP boosted its stake in shares of Tandem Diabetes Care Inc. (NASDAQ:TNDM) by 3.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm 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 approximately 3.74% of Tandem Diabetes Care worth $13,290,000 as of its most recent SEC filing.
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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